Updated about 9 years ago on . Most recent reply
TURNKEY Condo Rental in Irving!!!
Price: $59,000
Rehab: $3,000--just for drywall fix from the roof leak and whatever sprucing up an investor might want to do, but look at the pictures--it's pretty nice
ARV: $80,000--solid comps
Rent: $950/mo--right at, or barely under market
It is a 2/1 980 sqft. condo, which is already in great shape and decently updated AND tenanted at $950/mo! The only draw back is that there's a $240/mo. condo fee, but an investor is looking at a deal with incredibly low maintenance, already tenanted, and a solid return for $59K. The only repair necessary is the slight water damage from a roof leak (roof was fixed already), and that's it!
Pros:
- Cheap, easy, low-headache
- Already tenanted by two responsible, on-time tenants (nurses, I believe) who want to stay.
- Good location in Irving, which is super hot right now
Cons:
- REO property, so close date will be flexible--looking for early May closing
- Condo fee, but that's why it's priced so low