Parcel ID: 14 007500040833
Why buy this property:
Because the Mechanicsville/Pittsburgh area is a hotbed for building more affordable properties! The demand for affordable housing is tremendous.
Do you have a need for a deal in a solid upcoming area?
Have you ever wanted to explore a new build project?
Do you want to build something simple and affordable as a result to your budget and to the Buyer?
Is it important for you to be near rapidly gentrifying mixed use areas?
Do you mind if we tell you more about this deal?
If the answer is yes to any of the above questions, you are at the right deal. Mechanicsville is in a big gentrification phase conveniently sitting between two large up and coming mixed use developments in Summerhill and Pittsburgh Yards. And with the MET a hope and a skip away, the centralized location could not be more convenient.
And to make it even affordable, this is a Federally Approved Opportunity Zone! Take advantage of the tax incentives provided to you by Uncle Sam to boost your profitability! A copy of more information on what is available to you is found here. https://www.investatlanta.com/assets/city_of_atlanta_oz_prospectus_04.04.2019_final_OPBjrY2.pdf
Many of the homes in the community were built in the 2000s so there is a great mix of new and charm for a diversified community feel.
And as a bonus, we have a few lots in this community and can entertain package offerings saving you thousands!
The Numbers
Purchase Price: 95000
Prep Work Pre-Build (survey, architecture, permits): 9000
Home construction $100 sq ft: 150000 – 1500 sq ft
GC fee – 22500
All In: 276500
Sale price for new: 379000
Net Sale Price 93%: 352470 (average concessions in area is 1%)
Net profit: 75970
The retail comps: Address, Price
Note for Days on Market for New Builds: We do not know if time on market includes build time since prelisted homes have no pattern of entry to the market.
728 Garibaldi St – 424999 – 4 bd/3 ba
700 Garibaldi St – 390000 – 3 bd/2.5 ba
669 Garibaldi St – 359900
225 Crumley St – 397425
213 Crumley St – 384000
217 Crumley St – 366100
215 Crumley St – 353100
650 Ira St – 449500 – 5 bd/3 ba – Pending
Land Comps:
697 Garibaldi – 99000
726 Windsor – 90000
0 Doane St – 91000
Land Comps:
697 Garibaldi – 99000
726 Windsor – 90000
0 Doane St – 91000
Active listings:
766 Cooper – 414900 – 4 bd/3 ba
Realtors: Add whatever fee you want to the purchase price and notate with your offer.
Access: Land so can see anytime.
What if we showed you how to do this deal? Coaching is available if desired at an additional cost.
How to Buy
MAKE US AN OFFER!
Properties are sold on a first come, first serve basis. If you are interested and would like to put this property under contract, please contact us ASAP. Keep in mind we use our own contract so to make an offer whether e-mail or phone call. We’ll handle the busy work for you.
MAKE US AN OFFER!
| Price: | $95,000 |
| City: | Atlanta |
| County: | Fulton |
| State: | GA |
| Zip Code: | 30315 |
| Property Type: | Vacant lot |
| Lot size: | 0.16 acres |