5 bedroom, 3.5 bath, 3453 sq ft, with pool, ramada, indoor and outdoor fireplace, wet bar, built in BBQ, and Peoria Zip code. Nestled in the community Lions Gate, is property has a prime local. Choice schools, high end properties, shopping, dining, entertainment, and quick freeway access will drive the price point. Pool was replastered in 2014. The one active listing in the neighborhood needs more of an update than this property and is lacking a pool and fancy backyard upgrades. See below for link to old listing of this property and 70 plus pics. Sold comps are $124-131/sq ft in the area. ARV based on $123/sq foot.
Need set: Cosmetic updating
Wholesale Price: $325k
Estimated Rehab: $20k
Estimated ARV: $425k
Close of escrow on or before 8/19/2016. First signed contract and $2500 non-refundable deposit to title wins. Buyer pays all closing costs. Escrow is opened at First Arizona Title - Kim Stembridge is EO (623)385-1004.
See below for fun disclaimers, ESTIMATED budget, pics, and comps and link to comps:
Fun disclaimers:
All Prices based on cash sale with $2500 non-refundable deposit to secure property.
IMPORTANT INFORMATION
- All properties offered are either owned or are under contract and selling equitable interest or offered in conjunction with business associate.
- One of managing members is a licensed Real Estate Agent in the state of Arizona.
- If estimated values are provided, they are based on interpretation of MLS and Tax Data.
- Hard Money Available on most transactions at range of 14-18% with 20-30% down and transaction fee.
- Price is net to seller and Buyer pays all closing cost
- Buyer agrees to double close of escrow
Investors/buyers
are encouraged to conduct their own due diligence. The members of the
selling entity are not tax or financial advisers. You should consult
with a certified financial and/or tax adviser on any investment you are
considering. Buyer pays all closing costs.
Old listing with 70 pics:
http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=17zegiapzqsn&s=12&cid=1
Pics to Wet your Whistle:
Estimated Budget:
| Purchase Price | 325000 | ||||||
| Front side | |||||||
| Hard Mony loan | 260000 | ||||||
| Hard money down payment | 65000 | ||||||
| Interest hard money | |||||||
| - 18% 6month term - 4 months | 3900 | 15600 | |||||
| Closing costs | 1500 | ||||||
| Remodel | 20000 | ||||||
| Insurance | 700 | ||||||
| APS/Water | 700 | ||||||
| Total cash invest | 103500 | 103500 | |||||
| Total Frontside costs | 363500 | ||||||
| Backside | |||||||
| Estimated renovated sales price | 425000 | ||||||
| Realestate commission | 0.05 | 21250 | |||||
| title fees | 1500 | ||||||
| total fees | 22750 | 22750 | |||||
| total frontside costs | 363500 | ||||||
| Total Earnings | 38750 | ||||||
| ROI | 0.374396 | ||||||
Comps:
