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Updated about 6 years ago, 11/03/2018
When to gut rehab vs cosmetic rehab
Question on a property that I am considering in the Avondale area .
The cost to gut rehab is around 125 - 150k. With the holding costs and risk involved the return is not that great.
Asking : 250k
ARV Gut rehab , A plus rehab : 475 K
ARV cosmetic rehab : Not sure
1.5 story , unfinished basement
4 bed , 2 bath - 1700 Sq ft
My question is : When should we consider a gut vs cosmetic rehab
Few things I thought about :
1. Check the comps - Are most of them gutted and opened up ? Do we have comps suggesting that cosmetic rehab is an option
2. Current condition - Badly damaged and very boxy layout
Thanks Much