Property Address: 921 E. Columbia St. (Under Contract)
Acquisition Cost (includes wholesale fee) $70,000
Repair Costs $40,000 – $60,000
After Repair Value $200,000
Gross Profit $70,000
1117 E. Monument St. – Under Contract for $198,500 – 2 Bedrooms /1 Bath – 1383 sq. ft. – 1 Detached Garage
807 E. St. Vrain St. – Sold for $220,000 – 3 Bedrooms /1 Baths – 1352 sq. ft. – 1 Detached Garage
824 N. Institute St. – Sold for $188,350 – 3 Bedroom /1 Bath – 1142 sq. ft. – 1 Detached Garage
818 E. San Miguel St. – Sold for $185,000 – 2 Bedroom/1 Bath – 1001 sq. ft. – 1 Detached Garage
This single family rancher has a lot of potential! Sits on a nice big lot just outside the “Old North End” of Colorado Springs. It is 1,139 sq. ft., 2 bedrooms and a den (that can be used as a 3rd bedroom), 1 full bath. There is plenty of room to add an additional bathroom and/or expand the kitchen if you desire. The house needs a new roof, furnace, water heater, and appliances. Kitchen and bath will require updates. The original hardwood floors are in really good condition, under the carpet, that you will want to refinish! There are also some foundation issues that Peak Basement Systems quoted to fix and stabilize the foundation (we will provide these docs). Clean up in the crawl space is needed.
The rehab costs really depend on how much work you want to put into the property; fix and flip or buy and hold. You will definitely have to repaint/update the interior and exterior, along with some stucco repair.
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.
7702 Crestone Peak Trail – Sold for $205,000 DOM 45
6235 Sorpresa Lane – Sold for $210,000 DOM 141
7774 Crestone Peak Trail – Sold for $211,000 DOM 88
7732 Crestone Peak Trail – Sold for $211,000 DOM 79
6215 Sorpresa Lane -Sold for $207,000 DOM 1
None of these comps have granite countertops
Property Notes: This house is currently a 3 Bedroom 1 Bath single family rancher. With a full gutting, moving some walls and adding a second bathroom, you will have a gorgeous 3 Bedroom 2 Bath house in a brand new subdivision. The front yard needs to be landscaped, along with the backyard if you choose. The house has recently been stuccoed, has a new roof and newer windows and comes with a spacious attached 2 car garage. If you want, we already have a contractor lined up and ready to start to project on July 5th.
Rehab Notes: This house needs all new plumbing, electrical and duct work. It has a very spacious and tall crawl space for easy access for work and storage. The house needs a new kitchen and two new bath rooms. You will need to refinish and patch the hardwood floors, along with new sheetrock in the entire house. You will also need to put a new water heater and furnace in the crawl space, along with new carpet in the bedrooms. This property would make a great fix and flip or fix and hold.
Most importantly the Parade of Homes will be going through this neighborhood right when the rehab should be coming to an end – Fast Sell!