5BR3BA - Strategy Suggestions - Comp ideas - .

[Kirk R.]

Hi All,

5 BR 2.5 BA house no garage. Decent area/School district. $120k asking thru Realtor.

Listed on MLS June 7th. DOM about 33.

2 bedrooms are 11X10. The other 3 are much larger. Hard to find 5 Large BR with 2.5 baths in good areas. Hard to sell this one because it is a bilevel side split without garage good location but kind of weird one town with another school district.

I can charge about $450 per room.
I plan to rent out 5 rooms to 5 Professional Adults. End of the year 4th quarter the biggest employer in the area typically freeze hiring and sometimes even lets people go. & then normally floods people back in 1st Quarter.

$2250 5 rooms rented @$450.

Bills:
$750 PITI @ list price
$200 Maintenance
$150 Gas/Electric
$50 Water
$50 Internet
$1200 Total (3 rooms rented covers all)
$1050 Cash Flow/Month (5 rooms rented)

Questions/thoughts/Ideas:

Hard to comp this house. Didn't sell for $120,500 for last 4 months in 2012.
Realtor charging @ least 6% ($7k) Not sure how much I could sell it for. I've looked at the other sales this property is a bit more unique than a typical....??? looked @ trulia & Any advice?

Would you wait to approach until it is no longer listed by the agent? I think the Realtor has some claim if she shows it to me during the listing period. But if I approach her she has both sides and could reduce her commission.

Seems like I should just wait til it is delisted & try to get it to close in January 2014? See what the owners bottom line is? No Repairs needed.

Will be a little disappointed to see it go because it is hard to find 5 BR 2.5 baths with decent sized rooms. But guess be more disappointed to have a house with few renters.

Seller not that motivated since they haven't lowered the price or maybe their or else they would lower the price. I could go to the court house and find out how much is loaned against the house.

Maybe Bottom line - no motivated seller - move on? shoot a low ball offer? Come back at it when it is no longer with a Realtor?

All input appreciated.