Probable Deal Type: Fix & Flip
Killer opportunity in a great spot in Decatur near the East Lake area. Very simple.
Option A – put up to 10k into it and rent. In good shape as it.
Option B – Rehab existing for 25-30k tops and then put 50k into a 500 sq ft addition to hit resale values below. One advantage you will have is you can have an 8 ft ceiling unfinished basement space with interior access built into the addition that is above grade. So 1436 sq ft heated with 500 sq ft unheated. Or put another little bit extra into it (you could get it into the 50k if you have good contractor prices) and now you have approx 1936 sq ft heated ABOVE GRADE so fully appraisalable. ARV likely 300+ at that point being none of the comps below have usable basement space. AND the existing house has storage space below the existing house albeit with a lower ceiling so not really the best choice to finish.
LOTS of OPTIONS! Solid deal and good bones. Definitely one of the better deals for a flip!
The retail comps: Address, Price
2185 Miriam Ln – 300,000
2175 Miriam Ln – 293,000
1927 Don Juan Ln – 275.000
2203 Glendale Dr – 272,500
2140 Glendale Dr – 269,900
2732 Joyce Ave – 259,900
Realtors: Add whatever fee you want to the purchase price and notate with your offer.
Access: Appointment
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, an e-mail or phone call is sufficient.
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| City: | Decatur |
| County: | Dekalb |
| State: | GA |
| Zip Code: | 30032 |
| Year Built: | 1952 |
| Square Feet: | 936 sq.ft. |
| Bedrooms: | 2 |
| Bathrooms: | 1 |