Hello BP, I have a 2 story corner lot home it is a 3bed 1bath, full basement and hardwood floors, central air, fenced yard and 1 car garage.
South Bend, Indiana
Home needs some TLC
Asking Price: $13,900
Lot Sqft 4400
Area Rents: $550-$650
What are the estimated repair costs? ARV?
@Felton Johnson You're missing the most critical piece of information for investors to make an informed decision regarding the property. What is the address?
Sorry about that, the address is 631 Dayton st, South Bend IN 46613
Repair from contractors $3,200-$3,500
@Felton Johnson we also need the tax accessed value so we can calculate the EXACT taxes - a range of "$800-$900" seems too vague.
$800 in annual taxes would be a $80k accessed property if it was recently owner occupied and you used 1% or $40k if it was a rental and you are correctly using 2% to figure the annual taxes for a non-owner occupied rate.
The tax accessed value is $50,200 but the property has not been owner occupied in over 5 yr. The owners had a tenant in the property, no lease just month 2 month for all that time.
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