Summary
| Total After Repair Value | $185,000 |
| Total Optimized Rent | $1,400 |
| Total Current Rent | $0 |
| Asking Price | $80,000 |
Property
| Address | City | Bedroom | Bathroom | Sqft | Acres | ARV | Current Rent | Optimized Rent |
| 137 Lindbergh Street | Winston Salem | 3 | 1 | 1,228 | .41 | $185,000 | $0 | $1,400 |
Comparables
| Address | City | Comp Link |
| 137 Lindbergh Street | Winston Salem | https://triad.mlsmatrix.com/Matrix/Public/Portal.aspx?ID=DE-41607983220&eml=cG9tcGV5LnJvYmVydEBnbWFpbC5jb20= |
Details
| System | Notes |
| Roof | Flat Shingle – Replace |
| Heating | Gas Forced Air |
| Air Conditioning | Window Units |
| Plumbing | Good condition, no reported issues |
| Electrical | Good condition, no reported issues |
| Windows | Wood, decent condition |
| Occupancy | Tenant Occupied – Moving |
| Water Heater | Good condition, no issues reported |
| Water Source | City |
| Sewer Source | City |
Description
Tenant occupied by a family member but he is in the process of moving. Buyer must be willing to be flexible to give owner/tenant time to move things out however I expect there will be a large amount of items left behind which will need to be trashed out or sold if you feel there is anything of value left over. The home is actually in good condition, although it is difficult to see through all of the stuff.
Flooring is solid throughout, kitchen and bathroom are in good but dated condition. Hardwoods under the carpet. For a rental we would suggest a trashout, new roof, paint and flooring work. There is a garage around the back of the house in the basement that will allow you to enter the main house through the basement stairs. The right side of the house was previously a garage that was supposed to be finished for additional sqft but it was never completed. This could be changed back into a main level garage or finished out for additional sqft if desired. It was difficult to see the major systems in the basement but they appear to be older so they may be near end of life.
A similar comp sold for 103 in 8 days and that had code violations, If you wanted to do a light rehab there is a 2/1 around 1,000 sqft that sold for 149k cash in 4 days, a full reno would put you closer to the 180-190 mark just above a comp that sold for 176k in 5 days on the same street. It is smaller, with one less bedroom on a smaller lot with no garage.
Showings
Showings available upon request. A walkthrough video is below.
Video Walkthrough
https://youtube.com/shorts/19eqlk37ziY?feature=share
Disclosures
ASSIGNMENT OF CONTRACT, CASH OR HARD MONEY ONLY, MUST CLOSE WITH OUR ATTORNEY, SELLERS DO NOT YET OWN, SELLERS ARE LICENSED NC REAL ESTATE AGENTS AFFILIATED WITH LEGACY REAL ESTATE SERVICES.
BUYERS TO PAY SELLER’S CLOSING COSTS
$1,000 NON REFUNDABLE EARNEST MONEY DEPOSIT DUE AFTER VIEWING
TENANT OCCUPIED, DO NOT DISTURB, SHOWINGS ONLY BY APPOINTMENT
TITLE IN THE PROCESS OF BEING CLEANED. EMD IS REFUNDABLE IF CLEAR AND MARKETABLE TITLE CANNOT BE OBTAINED BY CLOSING.