The renovation is complete. This property is now occupied and cash flowing at $1,400 a month via section 8. The lease is set to renew on 7/31/2018.
Here is the Scope of Work completed on this property:
- New wooden fence in the backyard
- New concrete slab in the back of the house for parking
- Large dead trees cut down and removed
- Landscaped a lot front and back
- Patched sidewalk as needed
- Tuck pointed throughout
- Installed handrail
- Hardwood floors sanded and refinished throughout
- All drywall patched, repaired throughout
- New two tone paint throughout with accent walls, ceilings, walls, trim and doors painted
- Replaced/repaired several windows
- Installed window in attic on west side
- Fixed plumbing where needed and upgraded
- New tile shower surround in both bathrooms
- New shower head and hardware in both bathrooms
- New bathtubs, vanities, toilets, mirrors, and lighting
- New tile flooring in bathrooms
- New light fixtures throughout
- New kitchen cabinets, countertops, sink and faucet
- New kitchen appliances, refrigerator, stove
- New tile flooring in kitchen
- Several new doors throughout including front door and back door
- New security doors
- Opened a new door through the kitchen to ender the 3rd bedroom, enlarged the back room to make it a legal sized bedroom built a closet, and installed laminate flooring.
- New duct for heating in the back bedroom
- Added drywall, electrical, flooring, etc. for new bedroom in the basement
- New window in basement
- New steps built off the back of the house
*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.