907 Walker Ct, Fayetteville, NC 28311
One of our KILLER Wholesale Deals…with this adorable, recently rented, but now vacant 3 bed/1.5 bath/1200′ home in College Lakes on a cul-de-sac. New paint! Front yard has large shade trees (…if you wanna keep em’.) A bit overgrowth currently. House has lots of kitchen cabinet space, ceiling fans throughout, storage in the back of the house, and a large fenced in backyard, on almost 1/3rd of an acre.
Here’s The Numbers:
Current ARV: = $100K (Based on recent F/S and SOLD comps pulled in this zip and community. Do Your Diligence.) In brand new condition.
Rehab Needed: = $18K to $20K (Including new roof, carpet and flooring, some painting, baths and kitchen upgrades, a good landscaping, exterior cosmetics.)
Your Purchase Formula: = ARV x 70% = $70,000 minus approx $18K – $20K rehab costs.
Gross Profit Potential (After our $46K purchase price + $20K rehab costs): = $34,000.00
Net Profit Margin (After approx 10% ($10,000.) closing/holding/soft costs): = $24,000
Rental CAP RATE (For you landlords): = Rents @ $850.00 mo x 70% = $595.00 mo x 12 = $7,140 NOI divided by $66,000 (total acquisition cost of $66K = buy price + rehab cost) = 0.108 -or- 10.8% Cap Rate.
ROI = 110.8 mos -or- 9.2 years.
This deal is based on the current comps you can pull for this property. The $100K is accurate regarding the similar sales in this zip code and common area that my co and our CMA specialists pulled for us. (In brand new, completed condition, of course.)
Deals like this one are relatively rare, having the moderate rehab needed and the rental neighborhood it’s in. In our opinion, although there is a $24K rehab profit realized, this would mainly be a GREAT rental property….you should jump on!!
PLEASE HURRY if seriously interested. Cash deal only. This one’ll be gone…., before ya know it!! Please Don’t delay…
CALL US TODAY!!