Great property under contract in the central part of town that we are looking to wholesale. It makes a good rehab but will make a great buy and hold.
All the information follows:
2204 E. Willamette Ave. (Under Contract)
- Acquisition Cost (includes wholesale fee) $67,000
- Repair Costs $25,000 – $40,000
- After Repair Value $135,000 – $155,000
- Gross Profit $35,000 – $48,000
- 1117 Iowa Ave. Under Contract for $157,000, 2 Bedrooms / 1 Bath + a Studio with a Bath – 1241 sq. ft. – 2 Car Carport
- 218 Iowa Ave. Active for $160,000, 2 Bedrooms / 2 Baths – 1237 sq. ft. – 4 Car Garage
- 510 Swope Ave. Sold for $129,500, 2 Bedroom / 2 Bath – 1129 sq. ft. – 1 Car Garage
This single family rancher has a cottage feel to it with a lot of potential on a nice big corner lot. It is currently a 1271 sq. ft. 3 bedroom / 1 and 1/2 bath single family rancher. There is plenty of room to add a full bath. The house has a new roof, newer water heater and furnace. The house also has a wood burning fireplace with vents that will heat up the entire house.
The rehab costs really depend on how much work you want to put into the property. You will definitely have to repaint the interior and exterior. New carpet and appliances are needed, as well as some landscaping.