Investor · Charlotte, NC · Member since 2014 · 24 posts · 9 votes
Buy & hold investment opportunity Asking 45,500 OBO - Cash Buyers Only
Brick ranch home located off Ansonville-Polkton Road Built 1950 1458 Square Feet 0.46 Acres Tax Value $62,600 3 Bedroom / 1 Bath Rent (as-is condition): 650/month - with improvements may get 675-700/month
Well-kept house is move-in ready, however buyer could likely increase rent with following updates:
Paint, carpet, new appliances, baseboard heating repairs, new steps at back door.
New roof just installed, new septic piping just installed, laundry room recently insulated
Sales price accounts for $6500 in repairs by buyer to still maintain approximate 9.75% cash on cash ROI and 11.38% Cap Rate, also accounting for buyer closing costs. (All in $53,200 with purchase, repairs, closing). See analysis pic for details.
If interested, please contact me for more info and access. Property is occupied, do not go on property without contacting me first. Cash purchase or hard money. No owner financing, Must close in 2-3 weeks.