Purchase price 25,000 + $750 closing costs. 2 bedroom with large landing upstairs. Add one wall and a door, and it's a 3 bedroom. Closet there already.

House roof 7 yrs old but shoddy because it has a leak. Minor localized plaster damage inside. Plaster has been removed, and buckets are used.

Needs gutters. Also, 1 stall garage roof caving in. Basement has it's own door to outside (and also stairs from inside), so something could maybe come of that very clean basement space, eventually. Enclosed porch foundation has 3 stair-step cracks because of no gutters, ground movement. Gutters a priority but things seem stable otherwise.

Rent around $900. Comps in better condition but tad rougher area about 42-45k, and they are getting $925-950 in rent per MLS listing.

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Very clean. Fixed income owner. She tried her best.

If the roof is not a tear off, the rehab would be about $5000, includes sprucing up inside. That includes the garage roof. So, all in at 30,000.

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It's in what was a rough neighborhood - it's been gentrified (in many spots) by a hardworking, lower income population. Hit or miss. But, this sits on a alley by itself - literally, the only address on the 'street' and directly behind a beauty shop (shop is on a busy street with lots of open space). So, buffered on 2 sides with much open space and/or a business, from the very C-class of the neighboring houses. Neighbor (from adjacent street that butts up to the side of this house) has a Pit Bull, but this home has a newer tall wood fence and a huge deck in need of minor repair.

Have you ever taken on a C for the good returns? Thanks.

Also thought about cleaning it up a bit and flipping it privately to an investor (BP?) for a few grand.

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Would you C-class at 3%?

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