The renovation is complete. The rent amount is an estimated amount from the property manager. Once we secure a tenant we will know exactly what the rent amount is going to be. Subject to change.
The main level is 764 sqft with 1 bedroom and 1 bathroom. The upstairs is roughly 500 sqft, completely finished with recessed lighting and we added 3 bedrooms and 1 bathroom. The basement is finished and we added 1 bedroom, making the total finished sqft 2,028.
Here is the Scope of Work Completed on this property:
- Replaced front and back entry doors with new locks
- Removed front eaves over the windows
- Brand New Roof
- Repaired damaged gate leading to back alley
- Painted back porch
- Replaced damaged fascia in back of house
- Removed part of rotted trees in back of house
- Installed missing exterior light fixtures on back porch
- Removed all debris throughout inside
- Installed new hot water heater
- New furnace being installed, not shown in photos yet…
- Removed and replaced ceramic tile on kitchen floor
- Removed and replaced kitchen cabinets
- New granite countertops in kitchen with new faucet and sink
- New kitchen appliances
- Replaced all outlets throughout
- Removed and replaced all vanities including bathtub in bathroom 1 and 2
- Installed 2 sets of GFI over kitchen counters and 1 set in bathrooms including 2 sets in basement
- Removed and replaced all light fixtures throughout
- Installed 65 sheets of drywall over existing walls and ceilings
- Replaced all bedroom doors and knobs including bathroom doors
- New subfloor in upstairs bedroom 2
- Removed and replaced laminate flooring in bedroom 2,3,4 & 5
- Sanded, polished and varnished hardwood floors in living room, dining room, halls, stairs leading to 2nd floor
- Patched and painted entire house two tone including all window frames, door frames trims and doors
- Removed and replaced damaged panels on walls in basement, painted basement floor
- Installed ceramic tile on front entrance floor
- Added a bedroom in the basement
- All new plumbing
- All new electric
- New gutters
*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.