$400 Cash Flow opportunity. What do you all think?

[Tim Vecchioni]

Hey!

So this neighborhood I would say is a C/C+. The rent is all over the place with comps but I would assume fixed up, this should pull $1700 due to its location. You are literally minutes away from an A neighborhood and great shopping as well as all major community roads. The asking price is $140K and originally started at $180K back in Septemeber. However, the house was build in 1974, which leaves me to believe there is going to be a lot to replace/upgrade within the house. I am looking to go walk this ASAP to see for myself but wanted to post this to get some advice on what I should look for when walking an older home like this as well as make sure I didn't miss anything in the deal itself!

https://www.biggerpockets.com/buy_and_hold_results...

Thanks!

[Tim Jacob]

This sounds like a nice property for Annapolis.  Great employment base.  C properties are great investment properties.  The only thing I see being a problem is the reno budget.  If its functional you can take a little off the rent and keep the old cabinetry and flooring.  Maybe rent it a couple years than reno it.  It shouldnt drop the price more than 10%.  Obviously it would be good to get that from the start.   If it still cash flows alrigjt you can improve it later if you dont currently have the funding.