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Updated over 6 years ago,
13% cap rate / $100k profit flip - 3 homes - Fredericksburg, VA
Fantastic deal whether you buy and hold or flip. I am selling these properties to fund a larger investment and don't have time to fully maximize my profits. Can sell each property separately, prefer to sell together, looking for cash deals with quick closings.
RENT
$54,000 annual gross income
$2,200 annual taxes
$2,400 annual insurance
8% vacancy
$3,100 repairs
$3,000 capital expenditures
$16,560 total expenses
$39,000 annual net income
$300,000 purchase price
13% cap rateFLIP $300,000 purchase price $6,000 buyer closing costs $10,000 rehab costs $420,000 sale price $4,000 seller closing costs $100,000 total profit
13271 Julien St, Woodford, VA 22580
2400sqft manufactured home on 1.5 acres in neighborhood on well and septic. New HVAC (2017), water heater (2016), bamboo flooring (2015), light fixtures (2017), Unit B kitchen (2015), Unit A appliances (2017), and much more. 12x14 Shed. Stone road scheduled to be paved and maintained by county. Needs some work (baseboard, some flooring, some paint, more stone in driveway, etc).
Unit A: 3 bed, 2 bath, office/den, kitchen, dining, living, laundry. $1400/month, owner occupied.
Unit B: 1 bed, 1 bath, office/den, eat in kitchen, living. $900/month, currently rented.
https://www.realtor.com/realestateandhomes-detail/...
588 Carpenters Rest Rd, Caret, VA 22436
1380sqft manufactured home on 15 acres in rural community on well and septic. New water heater (2017), laminate flooring (2016), light fixtures (2016), kitchen (2016), appliances (2016), and much more. 10x18 Shed. 3 bed, 2 bath, office/den, kitchen, dining, living, laundry. Subdivision approved by county. $1100/ month, currently rented.
https://home.cozy.co/apply/#!/225511
590 Carpenters Rest Rd, Caret, VA 22436
1200sqft manufactured home on 15 acres in rural community on well and septic. New water heater (2017), HVAC (2017), laminate flooring (2017), light fixtures (2017), kitchen (2017), appliances (2017), and much more. 8x8 Shed. 3 bed, 2 bath, kitchen, dining, living, laundry. Title currently with DMV, needs converted to real estate. Subdivision approved by county. $1100/ month, currently rented.
Offering