3rd Street and Osborn quaint cottage. 3 bedroom, 1 bath, with detached 2 car garage, 1200+ sq ft, lot size of 6800+, built in 1945. Massive upswing potential in this one. Close to freeway access, down town, airport, night life, hospitals, and cityscape revitalization. Condos are going for $350k+ within stone's throw.
Needset: Cosmetic remodel with modern urban flare, curb appeal
Wholesale Price: $185k
Estimated Rehab: $30k
Estimated ARV: $310k
First contract and $5k non-refundable deposit to title wins. Escrow is open with Kim Stembridge at First Arizona Title. Buyer to pay all closing costs. GO!
See below for fun disclaimers, ESTIMATED budget, pics, and comps:
Fun disclaimers:
All Prices based on cash sale with $5k 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 10-18% 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.
Pics:
Comps:
Estimated Budget:
| Purchase Price | 185000 | ||||||||
| Front side | |||||||||
| Hard Mony loan | 148000 | ||||||||
| Hard money down payment | 37000 | ||||||||
| Interest hard money | |||||||||
| - 18% 6month term - 4 months | 2220 | 8880 | |||||||
| Closing costs | 1500 | ||||||||
| Remodel | 30000 | ||||||||
| Insurance | 700 | ||||||||
| APS/Water | 700 | ||||||||
| Total cash invest | 78780 | 78780 | |||||||
| Total Frontside costs | 226780 | ||||||||
| Backside | |||||||||
| Estimated renovated sales price | 310000 | ||||||||
| Realestate commission | 0.05 | 15500 | |||||||
| title fees | 1500 | ||||||||
| total fees | 17000 | 17000 | |||||||
| total frontside costs | 226780 | ||||||||
| Total Earnings | 66220 | ||||||||
| ROI | 0.840568672 | ||||||||
