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Updated over 11 years ago,
no work needed builder home
I'm going to look at this home later today. the owner is a builder and is looking to sell his current home and downsize after a recent divorce just doesn't need the room. home would make a perfect buy and hold property with the rooms in the house being rented out to college kids since the main campus of vasser college is about a quarter mile away. house is on a dead end street and most of the homes on the street are currently rented out to college students so it fits the bill.
house was built in 2007 on .6 acres with 3 beds 2 full baths good quality everything. 3 car garage nice yard the works.3000 sqft. home also has a attached 1 bedroom 1 full bath separate laundry and a 1 car garage space. currently his mom lives there. taxes are about $10800 house doesn't need any repairs beside things the end buyer might want to change.
he is asking 435,000 which im sure i will be able to talk him down from.
from the ruff numbers im running and just experience living in a college frat house and renting a room each room can be rented for about $500-$600 a month which would net $1500-1800 a month. the one bedroom can be rented for $800-$900 a month for a total of $2300-$2700 per month netting $27,600- $32,400 before taxes.
would this make a ideal buy an hold property? and i so i normally have worked with fix and flippers that aren't interested in a home like this. how can i market a home like this to attract a buy and hold investor?