Two Ugly Houses With Plenty Of Room For Profit

[Major Robertson]

11714 & 11720 Old Mitchell Hill Road, Fairdale , KY 40118

Here are two ugly houses on a single 1.3 acre site. They are UGLY. Both dwellings have their own septic tank so they can be split. There is only one water line from the main. Plenty of profit potential in this deal. As always, we used very conservative numbers.

As-is value $125,000 ARV is $160,000+ Asking $98,500 Terms: Assignable Contact Non-refundable $2,500 deposit For more information or to view the property E-Mail myself at [email protected] or Brett at [email protected] Or call: (502) 473-9397

Both are 4 bedroom, 1 bathroom houses.The front house has a 18 x 31 metal shed with a gravel floor. The other house is built atop a deep 2 car (wide) garage. The gross living area is 1,791 sq.ft. The pop-outs on the 2nd floor of the front house used to be decks. The kitchen and bathroom are updated but some of the trim work is unfinished and there is a fissure in the brick at the back of the house (settling). The PVA indicates the garage house is 1,836 sq.ft. It is in good shape and appears to need nothing. It has a newer HVAC system and the floors, kitchen, bathrooms are all updated. Market rent is $800 to $900/mo for each; that takes into account the ugly factor. The leases are in effect until May 1st & June 1st 2017 respectively at $500/mo. Total income is $1,000/mo. The tenant over the garage would like to buy. Comps for big ugly houses in the area indicate that a remodeled 'ugly' house on +/- a 1.0 acre has a market value around $100k and a little higher. Considering how ugly these houses are, I would place them conservatively at $80k each after they are split for a total value of $160,000. Close to Louisville Kentucky