Summary
| Total After Repair Value | $130,000 |
| Total Optimized Rent | $1,200 |
| Total Current Rent | $600 |
| Asking Price | $50,000 |
Property
| Address | City | Bedroom | Bathroom | Sqft | Acres | ARV | Current Rent | Optimized Rent |
| 2531 Manchester Street | Winston Salem | 4 | 1 | 1,216 | 0.17 | $130,000 | $600 | $1,200 |
Comparables
| Address | City | Comp Link |
| 2531 Manchester Street | Winston Salem | https://triad.mlsmatrix.com/Matrix/Public/Portal.aspx?ID=DE-36541469174&eml=cG9tcGV5LnJvYmVydEBnbWFpbC5jb20= |
Details
| System | Notes |
| Roof | Flat shingle, no leaks noticed on walkthrough but appears to be closer to end of life |
| Heating | Gas Furnace, Meter has been removed though |
| Air Conditioning | Window Units |
| Plumbing | No reported issues |
| Electrical | No reported issues |
| Windows | Replacement vinyl windows |
| Subfloor | Soft spot in kitchen, minor sloping in some sections of house |
| Water Heater | Good condition, appears to be newer |
| Water Source | City |
| Sewer Source | City |
House has 4 bedrooms and one bath. Two bedrooms upstairs and two downstairs. The bathroom is downstairs. The ideal set up would be to turn it into a 3 bedroom, 2 bath for a flip since one bedroom upstairs has functional obsolescence. Decent flip activity in the area and this would make a great flip given the brick exterior and lot size. Curb appeal would be amazing if done correctly. This can also be a great rental with optimized cashflow potential of around 1,200+/month. Current rent is $600/month. Gas heat but the meter has been removed so the tenants use space heaters. Window units for A/C. Windows have been replaced. Tenants are month to month on section 8. This provides opportunity to raise rent and have section 8 pay for if desired.
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 ALL CLOSING COSTS
$1,000 NON REFUNDABLE EARNEST MONEY DEPOSIT DUE ONCE UNDER CONTRACT
TENANT OCCUPIED, DO NOT DISTURB, SHOWINGS ONLY AFTER ACCEPTED OFFER
TITLE IN THE PROCESS OF BEING CLEANED. EMD IS REFUNDABLE IF CLEAR AND MARKETABLE TITLE CANNOT BE OBTAINED BY CLOSING.