New Memphis Deal in 38122--Needs Work, But Promising Potential!!!

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New Memphis Deal in 38122--Needs Work, But Promising Potential!!!

Nate Ollie
Multifamily Investor · Hyattsville, MD · Member since 2015 · 40 posts · 14 votes

Cute home in the 38122 zip code of Memphis, on Maria St.  

997 Maria St

1602 sqft

3 bed, 2 bath

ARV: $79,000

Repairs estimate: $14,000 (official repairs estimate by local licensed/certified contractor available)

Asking: $40,500

Comps:

3909 Guernsey Ave 1/20/16 $81,000
3863 Guernsey Ave 1/29/16 $73,500

1023 Dillworth St 12/31/15 $67,000

Here's the dropbox link with photos and a video:

https://www.dropbox.com/sh/zl3b7iepijas4nr/AABnrNqw21KaJSXDin76yUuga?dl=0

If interested, please call or text Nate at 901-286-1856

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Alex CraigBusiness Member
Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
10y

Let me know if you can do closer to $30k.

901-848-9028
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  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    10y

    Let me know if you can do closer to $30k.

    901-848-9028
    1Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
    10y
    I'll pay $31k Alex Craig
    0Reply
  • Brandon Battle
    Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
    10y
    What exactly are you getting for $14,000 in rehab costs because looking at the pictures I would guess 25,000 minimum,rental or not.Roof damage,landscaping,flooring,painting,countertops,bathrooms and maybe plumbing and drywall from the looks of the pictures.Probably lighting and appliances as well.Just me guessing,don't take it for the gospel.
    0Reply
  • Davin Thrasher
    Petaluma, CA · Member since 2016 · 12 posts · 4 votes
    10y

    @Nate Ollie So what did it sell for? I'm curious to hear other feedback you've gotten offline or any updates to your original post. 

    Thanks for sharing!

    0Reply
  • Nate Ollie
    OP
    Multifamily Investor · Hyattsville, MD · Member since 2015 · 40 posts · 14 votes
    10y
    Originally posted by @Alex Craig:

    Let me know if you can do closer to $30k.

    Hey Alex, yes I can. I will call you shortly. 

    0Reply
  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    10y

    Just text me. My phone rings non stop. 

    901-848-9028
    0Reply
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