Brick SFH Fix and Flip: 30%+ Return - Auburn Gresham

[Fernando Angelucci]

Hello BP!

We have available for immediate assignment a large brick bungalow fix and flip project in Auburn Gresham for $65,000.

Address: 7505 S. Carpenter, Chicago, IL

Size: 1,110 sq. ft. (Assessor's figure; we estimate it to be 1,600 sq. ft.)

Bedrooms: 3

Bathrooms: 2.1

Price: $65,000

Estimated Rehab: $55,000

ARV: $175,000+

Cash on Cash Return: 31.25%+

Details: This brick bungalow is located one block away from Stagg Elementary School and 3 blocks away from the Thurgood Marshall Chicago Public Library. The home has a great layout with a huge living room that leads into the large kitchen with two bedrooms and a full bathroom off to the side. One of the bedrooms has an enclosed back porch area that could be easily converted into a large walk-in closet. Upstairs has a 3/4 bathroom that could be expanded into a common area section for a master bath for the bedroom upstairs. The unfinished basement has a half bath and has plenty of space to have two bedrooms and an entertainment area if finished. Our rehab suggestions include refinishing the hardwood floors (there are hardwood floors under the carpet in the living room as well), updating the kitchens and baths, roof work, landscaping, paint, carpet upstairs, and finish the basement.

Photos and Video Walkthrough: https://www.dropbox.com/sh/vt2l0cp5ebqwx8a/AACTlYcEDcrQW9uMJhyEioCWa?dl=0

MLS Sold Comparables: https://www.dropbox.com/s/wqgs2yp1dfrels2/7505%20S.%20Carpenter%2C%20Chicago%2C%20IL%20Sold%20Comparables.pdf?dl=0

The deal goes to the first person to sign the assignment of contract and remit the assignment fee. If you have any questions or interest, please do not hesitate to reach out as this one will not last long!

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