Off Market SFR Asking $29000 ARV $68300 Rehab $20000 72% of ARV

[John Hamilton]

Contract: Off-Market SFH, 3/1, 1190 sqft, 9562sf lot, built in 1957. No mortgage. Owner inherited it over 10 years ago.

Asking: $29,000 all cash. Buyer pays closing costs. ARV=$68,300. Rehab=$20,000, 72% ARV to buyer. $1,164 taxes, Rents for $750-825. This is an assignment contract.

Needs: $20,000 rehab -  shower plumbing in-lines need repair, some soffit/facia repair/replacement, ceiling tiles in some rooms need replaced/added, sink faucet in kitchen needs replaced, All painting needed and some flooring (carpet/lino) needed, bathtub may need replaced, and some kitchen refacing, front awning needs help, front screen room of porch may need some re-screening and part of ceiling replaced, air unit is master bedroom will need replaced, master bed closet ceiling needs repaired.

Updates: New roof, electrical, plumbing under the house to main, detached 1 car garage. Landscape is good. Fences are good.

PICs will be available later this week.

Currently occupied, but will be vacant upon closing. Needs some repair to be rented.

325 W 66th St is located in the Tallulah/North Shore area of Jacksonville, FL. At this time, the property has an estimated value of $68,300 and yearly taxes of $1,164. This home has 3 bedrooms, 1 bathroom, and approximately 1,086 sqft of living space. The property was built in 1957. Similar homes nearby have 3 bedrooms, 1 bath and sell for around $70,000.

COMPS:

1) Sold for $93,000 on 9/20/2015
9212 Greenleaf Rd, Jacksonville, Fl, 32208
3/1/1184sf/7099sf

2) Sold for $88,000 on 9/3/2015
7331 Wakefield Ave Jacksonville, Fl, 32208
3/1/1038sf/0.24ac

3) Sold for $85,000 on 8/14/2015
9453 Sibbald Rd, Jacksonville, FL, 32208
3/1.5/934sf/8349sf 

Buyer takes on all responsibility and is to perform their own due diligence. Selling as-is, where-is.