Details: [Zillow] [Google Map]
3 bed, 1 bath
1176 sq ft
Asking price: $27,500.00
Current offer $25,000.00 -verbal agreement, more details as I get them
Estimated closing costs: $2500.00
Rehab costs:
$1800.00 drywall, mud/tape/sanding -remove/replace wood paneling & drop ceiling
$1500.00 floors (new kitchen laminate, new rugs upstairs)
$800.00 painting
$1000.00 updated appliances (fridge/stove/washer/dryer)
$600.00 window repair/replacement if needed
$2500.00 contingency
$2500.00 contractor
$375.00 Lowes Iris alarm system
$11,475 Total for Repairs/upgrades
Property total cost estimate:
$25,000.00
$2,500.00
11,475.00
Total: $38,975.00
Estimated value on appraisal: $70,000.00 (based on 3br/1bath appraisals within 1 block)
Rental estimate: $825.00/month (based on rentals within 1 block)
Notes: new roof from 2011, very close to public transportation & upcoming Phoenix Community Park