What a beautiful neighborhood! This property is just down the road from a very nice lake! See for yourself in the neighborhood video tour!
The renovation is completed and it is occupied and cash flowing at $1,295 a month. The lease started on 4/21/17 and is set to renew on 3/31/18. This property has a neighborhood trustee, and the annual dues are $150.
Here is the Scope of Work done on this property:
- New furnace, new coil, new line set, new 2.5 ton ac unit, disconnect box, whip
- Cleaned gutters, leaf clean up, 4 new window wells,
- New storm door
- Removed tree in yard, power washed the exterior
- New kitchen cabinets
- New kitchen countertops
- New kitchen sink and faucet
- New kitchen appliances, dishwasher, refrigerator, new hood, stove
- New light fixtures throughout
- New toilet and vanity in bathroom
- Blinds in all windows
- Repaired and replaced a lot of drywall damage throughout in basement also
- New two tone paint throughout, walls, ceilings, trim and doors
- New smoke detectors and carbon monoxide throughout
- Painted the steps
- New carpet on stairs going down to basement
- Misc. items when finished
*All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.
*Stated returns and cash flow do not take into account vacancy and repairs that will happen over time.
All properties are free and clear of all encumbrances (such as known claims, court-attachments, adverse claims, disputed ownership, liens, nonpayment of a note secured by the property, pending judgments) and, therefore, has a clear and marketable title. All properties will be closed out with a Warranty Deed at a reputable title company or closing attorney. Property taxes, property fees, and rent will be prorated to the buyer based on the purchase date of the property and the county specific proration procedures to which the property belongs.
Property taxes and other related bills, utilities, and fees associated with the property that are due after the purchase date of the property will be the responsibility of the buyer. Descriptions are purely visual. All information derived from third party sources, including but not limited to property assessments, appraisals, and title reports, if any, is deemed reliable but not guaranteed. All buyers are deemed to have relied entirely on their own information, judgements and inspections of property in making their decision to purchase the property. Pictures of the property contained herein may not be completely current and may not accurately reflect the condition of the property at any future date. Buyer should determine the condition of the property by physical inspection prior to purchase.
Buyer acknowledges and verifies that Buyer has carried out the necessary due diligence to purchase the property. For a complete statement of the terms and conditions of any purchase of the property, please review a copy of our standard Real Estate Purchase Contract.