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Updated over 4 years ago,

User Stats

18
Posts
7
Votes
Jacob Scholes
  • Investor
  • Hyrum, UT
7
Votes |
18
Posts

Looking at an off-market deal in Santa Rosa, CA

Jacob Scholes
  • Investor
  • Hyrum, UT
Posted

$480,000 off market

most recent sale in neighborhood $520,000(3 years ago)

sfr or convert to duplex

VA financing, live in 1 year

Hello everyone, I am looking at an off market deal in Santa Rosa California. A good friend of my father in laws has offered to sell his house to us at a discounted rate if he can avoid listing it and going through the hassle of dealing with a real estate agent.

Homes in this neighborhood do not sell often and have not sold for less than 520,000 and that was 3 years ago. (based on sold homes on Zillow)

He has offered it to us for 480,000 and is moving to retire in about 2 or 3 months.

it is a single family 3 bed 1 bad and has a carport that needs a garage door to enclose and become a garage.

The house is about 1000 sq ft and has just been remodeled. (new bathroom and kitchen) the only thing we'd possibly do is pull up the carpet and re finish the hardwood floors underneath.

I have experience remodeling homes( I worked as a framer and helped my dad remodel homes as a teenager as well).

the house is about 60-70 years old but in good condition.

I plan on financing with a VA loan but might consider traditional if my father in law has his property sell and go in with him as a partner.

My question is does this look like a good a good deal as a live in that we would be renting in about a year? (possibly a roommate before)

We are also considering converting the place into a duplex with and adding a bathroom for a 1/1 and a 2/1 or 3/1 and a studio(converting the garage).

If you were in my shoes would you think this is a good deal?

Houses in this neighborhood

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