Description
6 houses for 300k is the type of deal you’ve been holding your money on the sideline for. Now it’s time to get into the game. It may be a long time before you get an opportunity like this again. Don’t miss it!
$5,100 in potential rents after optimization offers an amazing cash flow opportunity! 4/6 houses are under 600 sqft and on one lot which means maintenance will be minimal and you’ll always have renters for properties of that size.
312 Church street can be a great rental or retail flip given the curb appeal and nearly retail ready condition. As a retail sale it’s a 2/1 but as a rental there is an upstairs that would most likely be used as a third bedroom for any potential renter.
At 1,800 sqft, 4 bedrooms and 2 baths Lindsey street offers a few of great opportunities:
1. You can finish it out retail and sale for around $160,000 similar to the other comps in the area.
2. You can rent to one family at about $1,200/month or more.
3. You can entertain making it a rent by the room (code permitting) at $400-600/month. This will raise the potential rent from $1,200/month to $1,600-$2,400/month pushing the total package rents to around $6,000 after optimization!
Video Walkthrough – 332 Church Street
Video Walkthrough – 334 Church Street
Video Walkthrough – 336 Church Street
Video Walkthrough – 224 Holderby Street
Video Walkthrough – 811 Lindsey Street (Downstairs)
Video Walkthrough – 811 Lindsey Street (Upstairs)
Summary
| Total After Repair Value | $460,000 |
| Total Optimized Rent | $5,100 |
| Total Current Rent | $1,350 |
| Starting Price | $290,000 |
| Buy it Now Price | $300,000 |
Properties
| Address | City | Bedroom | Bathroom | Sqft | Acres | ARV | Current Rent | Optimized Rent |
| 312 Church Street | Reidsville | 3 | 1 | 844 | .16 | $90,000 | $450 | $1,000 |
| 332 Church Street | Reidsville | 1 | 1 | 588 | .05 | $210,000 | $450 | $700 |
| 334 Church Street | Reidsville | 1 | 1 | 588 | .05 | – | Vacant | $700 |
| 336 Church Street | Reidsville | 1 | 1 | 588 | .05 | – | Vacant | $700 |
| 224 Holderby Street | Reidsville | 2 | 1 | 588 | .05 | – | $450 | $800 |
| 811 Lindsey Street | Reidsville | 4 | 2 | 1,872 | .08 | $160,000 | Vacant | $1,200 |
Comparables
| Address | City | Comp Link |
| 332,334,336 Church St & 224 Holderby St | Reidsville | Houses on one parcel – Optimized rents for this parcel would be $2,900/month. 1% rule puts value around 210k after taxes, insurance and maintenance |
Comparables
| Address | City | Comp Link |
| 312 Church Street | Reidsville | https://triad.mlsmatrix.com/Matrix/Public/Portal.aspx?ID=DE-46892244613&eml=cG9tcGV5LnJvYmVydEBnbWFpbC5jb20= |
Comparables
| Address | City | Comp Link |
| 811 Lindsey Street | Reidsville | https://triad.mlsmatrix.com/Matrix/Public/Portal.aspx?ID=DE-46892236258&eml=cG9tcGV5LnJvYmVydEBnbWFpbC5jb20= |
Details: 312 Church Street
| System | Notes |
| Roof | Flat Shingle – No Leaks Reported |
| Heating | Central |
| Air Conditioning | Central |
| Plumbing | Updated |
| Electrical | 200 Amp |
| Windows | Vinyl |
| Subfloor | Solid Throughout |
| Water Heater | Electric – Good Condition |
| Water Source | City |
| Sewer Source | City |
Details: 332 Church Street
| System | Notes |
| Roof | New Roof – Architectural |
| Heating | Electric Baseboard Heat |
| Air Conditioning | Window Units |
| Plumbing | Updated |
| Electrical | 100 Amp |
| Windows | Vinyl |
| Subfloor | Solid Throughout |
| Water Heater | Electric – Good Condition |
| Water Source | City |
| Sewer Source | City |
Details: 334 Church Street
| System | Notes |
| Roof | New Roof – Architectural |
| Heating | Electric Baseboard Heat |
| Air Conditioning | Window Units |
| Plumbing | Updated |
| Electrical | 100 Amp |
| Windows | Vinyl |
| Subfloor | Solid Throughout – Laundry Area needs work |
| Water Heater | Electric – Good Condition |
| Water Source | City |
| Sewer Source | City |
Details: 336 Church Street
| System | Notes |
| Roof | Flat Roof Shingle – Replace |
| Heating | Electric Baseboard Heat |
| Air Conditioning | Window Units |
| Plumbing | Updated |
| Electrical | 100 Amp |
| Windows | Vinyl |
| Subfloor | Sloped and uneven throughout, needs attention |
| Water Heater | Electric |
| Water Source | City |
| Sewer Source | City |
Details: 224 Holderby Street
| System | Notes |
| Roof | No Reported Leaks |
| Heating | Baseboard Heat |
| Air Conditioning | Window Units |
| Plumbing | Updated |
| Electrical | 100 Amp |
| Windows | Vinyl |
| Subfloor | Solid Throughout |
| Water Heater | Electric – Good Condition |
| Water Source | City |
| Sewer Source | City |
Details: 811 Lindsey Street
| System | Notes |
| Roof | Metal Roof – May need to Replace |
| Heating | Central |
| Air Conditioning | Central |
| Plumbing | Updated |
| Electrical | 200 Amp |
| Windows | Vinyl |
| Subfloor | Solid Throughout Except Laundry Room |
| Water Heater | Electric – Good condition |
| Water Source | City |
| Sewer Source | City |
Offer Process
Highest and best offer wins, beat the competition by choosing to “Buy it Now” at the listed ‘Buy it Now Price’
Showings
Contact Robert for showings 704-707-6945. Video walkthrough available.
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
$5,000 NON REFUNDABLE EARNEST MONEY DEPOSIT DUE ONCE UNDER CONTRACT
TITLE IN THE PROCESS OF BEING CLEANED. EMD IS REFUNDABLE IF CLEAR AND MARKETABLE TITLE CANNOT BE OBTAINED BY CLOSING.