Property Description:

3/1 880 S.F. BUILT 1963. Home is increasing in value about 3% every year. Realtor.com: $90,000. County Assessed Value: $59,248 Recent Certified Appraisal. (Attached): $80,093 (or $91 / sq ft) Repairs needed: • Some floors, painting, upgrade electrical, small roof leak, repair cabinets. • My contractor will perform all repairs “SALE READY” FOR $12,000. Or use your contractor. We will convey this property “As Is” for $38,500. Title Company closing. Buyer will have some closing costs, but will have Title Insurance. So, your acquisition cost, including rehab is still less than county appraisal. This leaves close to $30,000 clear SALE Margin. $30,000 on $50,500 is not bad. As for rental, I estimate fair market rental at $850. If you invest $38,500 + $12,000, you will have $50,500 invested and it will be a very nice house ready to rent at handsome profit. If you decide to hold and rent, your CASH ON CASH return will be about 20%. (I add collected rents as income, and I omit taxes, maintenance and other costs. Just acquisition cost, because property depreciation basically covers other costs.) • Hold and rent: About 20% • Buy, rehab, and sell: Invest around $50,500. Receive around $80,000, less closing, marketing costs Title report, Formal appraisal, pics available upon request