Another domino falls

[John R Kepler]

Investment Info:

Single-family residence other investment in Pensacola.

Purchase price: $68,500
Cash invested: $25,000
Sale price: $86,000

Large (for the period) contmporary ranch 1850sf 3/2 with attached 2 car garage. This was a house hack. The home was only 15 years old but had not been cared for. Cedar t-111 with no finish left, termites in the chimney chase, rotten fence, minor drywall repairs, over grown landscape, bad condensor unit but the roof was still good. Sold when transferred to Japan. We did a $10k carryback at 12% for 7 years. Total take was $101,184 less repairs and purchase. I would put my net profit around $22k.