Wow! What a great find near Royal Palm Park. Central corridor near 7th Ave and Dunlap. Home was build in 1959 and is 1954 square feet with 296 square foot guest house and a diving pool. Lot size is 17,093. Homes are selling in 30-60 days.
Need set: Updating, convert carport to garage, resurface pool
Wholesale Price: $380,000
Estimated Budget: $50K
Estimated ARV: $600,000
First contract and $5k non-refundable deposit to title wins. Buyer to pay all closing costs. GO!
See below for fun disclaimers, ESTIMATED budget, pics, and comps:
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.
Link to pics:
https://www.dropbox.com/sh/ktvsblvas5bifkg/ AAAmHIFRhWiqz3TFZZ5vqAVka?dl=0
Comps:
Estimated Budget:
Purchase Price | 380000 | ||||||
Front side | |||||||
Hard Mony loan | 304000 | ||||||
Hard money down payment | 76000 | ||||||
Interest hard money | |||||||
10% 6month term - 4 months | 3040 | 12160 | |||||
Closing costs | 1500 | ||||||
Remodel | 50000 | ||||||
Insurance | 700 | ||||||
APS/Water | 700 | ||||||
Total cash invest | 141060 | 141060 | |||||
Total Frontside costs | 445060 | ||||||
Backside | |||||||
Estimated renovated sales price | 600000 | ||||||
Realestate commission | 0.05 | 30000 | |||||
title fees | 1500 | ||||||
total fees | 31500 | 31500 | |||||
total frontside costs | 445060 | ||||||
Total Earnings | 123440 | ||||||
ROI | 0.875089 | ||||||