This is a great project to start now to keep you busy though the slow month and be ready to rent or flip in time for the Spring selling season.
We are offering a three bedroom, one bath bungalow in Roanoke City, just North of Melrose Avenue. All the projects are in play but the roof holds water and once you walk through you should see there aren’t any surprises. The house needs everything: kitchen and bath work, paint and a floor refinish, and windows. It could also help the final bottom line if you added air conditioning and did just a little landscaping.
A house like this should rent for $750-$800 a month depending on how nice you make it, and with this purchase price this low, and the reconditioning expenses considered, one can expect a 13-15 percent cap rate. That’s pretty strong.
Please don’t wait to call us today. Investment inventory is scarce this winter. Don’t miss out on the easy ones!