317 Omega Rd, Durham, NC 27712 is located in River Forest neighborhood in Durham.
4BR, 2Bath Ranch. Extremely rare opportunity on the Eno River in the city. Patio. There are city owned lots on either side of this home that makes the property appear and feel much bigger. Convenient to walking trails, shopping centers, West Point on the Eno Park, Downtown, Brier Creek, Duke and Hwy 85. New roof 2018. Great investment opportunity. Home has been completely gutted and ready for your personal touch!
GOOGLE MAPS View: (This was shot a few years back, but it’s basically the same today.)
Here’s the Numbers (For You Rehabbers):
CMA / ARV comes in at $147.00 per finished sq ft. (1448 x $147.00) = $213K – ARV (Solid.)
Rehab Needed (Interior): = Estimates in at $26,000.00 (All floors, sheet rock, paint, kitchen, baths and a nice stove, fridge, dishwasher and all interior fixtures.)
Gross Profit Margin (After Purchase and Rehab): $51,000.00
Net profit Margin After 12% (of purchase and rehab acquisition), 12% includes closing, holding, soft costs) = $31,560.00 PAYDAY!!
This is one of those deals that you long for as a rehab investor! It stands as an “open canvas”, gutted and ready for your imagination, skills and vision. This deal will sell EXTREMELY quickly, as you know, so please do not hesitate whatsoever to contact us immediately, if seriously considering this purchase and meets all of your investment criteria.
Side Note: Title work is completed at our attorney/title co for you. Only a $3500 EMD is required for escrow…to lock this one in for you. We can close this one with you very quickly.
Thanks for your continued business with us 🙂
Disclaimer: These number margins are based on the accurate ARV of $213K. Your profit margins will vary somewhat, depending mostly on the extent of finish you seek, cost of your materials and any extras you feel the home should have at completion.