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Exterior
This home was rehabbed approximetly 1.5 years ago, and is currently rented at $650 per month!
Exterior
This is a beautiful multi-level wood deck on the back of the home!
Exterior
This is a beautiful multi-level wood deck on the back of the home!
Exterior
The deck has a nice iron gate too!
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826 Wells Ave.
Single Family Home
| Status | Sold |
| List Price | $42,000.00 |
| Units | 1 |
| Bedrooms | 3 |
| Baths | 1 |
| Est. Rent | $650.00 |
| SqFt | 1080 |
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| Lot Info |
| Year Built | 1965 |
| Lot Width | 60 |
| Lot Depth | 100 |
| Lot Sq. Ft. | 6000 |
| Acreage | 0.137 |
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| This home was purchased at an auction and was meant to be cleaned up and resold, but the tenant came in and signed a new one year lease at her current rent of $650. But once this lease is up the rent goes up to the current market rate of $750. I would recommend paying cash for this property and then doing a cash out refinance. You should easily be able to retrieve all the cash you put out at purchase! At that point you would have an infinite rate of return because you would actually have none of your own money in the property!!! The cash on cash will be 37% the first year, 48% the fifth year and 69% by year ten if you have 20% into the property .So my loss is your gain!! This home is being wholesaled and is going to make someone a ton of money! The home has an updated water heater, windows, carpet, kitchen and bath flooring and kitchen cabinets. The tenant that is in there is making a mess so it will need to be repainted when she leaves and there is going to have to be some money spent on cleanup and landscaping but all of it can be done for just a few thousand. Even after fixing up after the current tenant someone will have vary little in the property if anything at all. Consider we rehabbed and sold the home right next door to it for $65,000 just a few months ago! |
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|  Updated windows, carpet, water heater, remodeled kitchen and bath! Nice deck! |
| At the current market rate of $750 the ROI will be 37% the first year, 48% the fifth year and 69% by year ten!!!! |
| Already rented with a new one year lease! Start cash flowing right away!! |
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