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Great Fix&Flip Opportunity in the quiet town of Semmes AL at 47% of ARV!

Semmes, Alabama
Semmes

Listings Stats

Published: Jul 11, 2024
Last Edited: Jul 15, 2024
Listing Type: Wholesale
Listing Status: Available
Number of Views: 185
Days On Flippery: 119
Number of Favorites: 0

The Numbers

Buy It Now Price: $95,000
Asking Price ($): $90,000
After Repair Value: $190,000
Est. Cost of Repairs: $40,000
Est. Gross Profit: $60,000
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Real Estate Investment

Description of Property

Home is a 3/1.5 with the potential to be turned into a 3/2

House is 1,400 sqft and stands on ~34k sqft of land.

The home has a newer metal roof and a large front covered front deck. Home also has partially hard wood floors.

Home is livable but could use cosmetic upgrades

ARV is estimated to be $190k and $200k+ if turned into a 3/2.

Sold at under 50% of ARV

Description of Repairs

Repairs needed:

Central AC and Ducting

Potentially new wiring because it's aluminum

Cosmetic Rehab

  • Access:
    Message Me
  • Build Year:
    1962
  • Home Area(sqft):
    1,412
  • Bedrooms:
    3
  • Heating:
    Boiler/ Radiator
  • Fireplace:
    Unknown
  • Water:
    City
  • Property Type:
    Single Family Residence
  • Lot Size(acres):
    0.78
  • Bathrooms:
    1.5
  • Cooling:
    Window Unit(s)
  • Foundation:
    Crawl Space
  • Sewer:
    Septic

The Numbers

  • Asking Price ($):
    $90,000
  • As-Is Price/Sq Ft:
    $67.28
  • Est. Cost of Repairs:
    $40,000
  • After Repair Value:
    $190,000
  • ARV Price/Sq Ft:
    $134.56
  • Est. Gross Profit/Equity:
    $60,000
  • Price Negotiable?:
    Yes
  • Purchase Option:
    Cash, Hard Money,
  • Rental Restrictions:
    No
  • Earnest Money Deposit:
    $4,000

Comparables

  • Comp 1

    Full Address:
    3314 Firetower Rd (1176 sqft well maintained)
    Distance from Listing Property (mi):
    0.7
    Sale Price:
    $169,000
    Sale Date:
    June 18, 2024

  • Comp 2

    Full Address:
    9071 Park Ave (lightly updated 1539 sqft)
    Distance from Listing Property (mi):
    0.6
    Sale Price:
    $215,000
    Sale Date:
    April 5, 2024

Property Inspection

Location

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