Summary
| Total After Repair Value | Buy and Hold |
| Total Optimized Rent | $6,000 |
| Total Current Rent | $1,600 |
| Starting Price | $245,000 |
| Buy it Now Price | $250,000 |
Property
| Property | Unit | Bedrooms | Bathrooms | Square Footage | Rent Amount |
| 1509 Waverly Street High Point, NC 27265 | B | 1 | 1 | 700 | $400 |
| 1509 Waverly Street High Point, NC 27265 | C | 1 | 1 | 700 | $400 |
| 1511 Waverly Street High Point, NC 27265 | A | 1 | 1 | 700 | $400 |
| 1511 Waverly Street High Point, NC 27265 | B | 1 | 1 | 700 | Vacant |
| 1511 Waverly Street High Point, NC 27265 | C | 1 | 1 | 700 | $400 |
| 1511 Waverly Street High Point, NC 27265 | D | 1 | 1 | 700 | $400 |
Details
| System | Notes |
| Roof | New Roof |
| Heating | Gas Furnace |
| Air Conditioning | Window Units |
| Plumbing | No reported issues, partially upgraded |
| Electrical | No reported issues. panel boxes |
| Windows | Some units are vinyl some are wood, replace the wood |
| Occupancy | Tenant Occupied except one unit |
| Water Heater | Good condition, no issues reported – Gas |
| Water Source | City |
| Sewer Source | City |
Description
Package deal of 6 condos only 2 minutes from High Point University! 4 of the units are in one building and 2 units are in the neighboring building. All tenants are month to month at around $400/month. All units could use some TLC. Fully renovating the units will bring the highest rental values. Houses are being renovated in and around this area. HPU is continually expanding which means this area will continue to see major growth. Units could be resold individually or it may be worth researching to see if you can transform the condos into apartments. There are 3 buildings with 12 units in total and you would own 6 of them. Another investor owns 4 of the units (2 in 1509 and 2 in 1507). If that seller is willing to sell and/or partner you may be able to make that transition. 1 bedroom apartments in High Point are renting from $850 on the lower end to $1300 on the luxury end with amenities. This package offers a great cash flow opportunity as well as equity growth potential. This deal won’t last long!
HOA is $100/month, HOA pays water. Tenants pay gas and electric.
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 ALL CLOSING COSTS
$5,000 NON REFUNDABLE EARNEST MONEY DEPOSIT DUE ONCE UNDER CONTRACT
TENANT OCCUPIED, DO NOT DISTURB, CONTACT ROBERT FOR SHOWINGS
TITLE IN THE PROCESS OF BEING CLEANED. EMD IS REFUNDABLE IF CLEAR AND MARKETABLE TITLE CANNOT BE OBTAINED BY CLOSING.