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D.I.R House: Attractive 3 Bedroom Home in the Gated Community of Forest Ridge – Perfect for Growing Family

Suggested Offer $ 245,000
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Overview

  • Updated On:
  • November 13, 2020
  • 3 Bedrooms
  • 2.5 Bathrooms
  • 1,957.00 ft2
  • Year Built: 2001

Property Description

Address: call/email for specifics

Investment Highlight 

Market Value  $277,000
Asking  $264,900
GAP  -$12,100
SDI’s suggested Offer  $245,000
Offer-Asking GAP ($)  -$19,900
Offer-Asking GAP (%)  8%
Offer-MarketValue Gap ($)  -$32,000
Offer-MarketValue Gap (%)  12%
Days on Market  96
Estimated (rough) repairs needed  $6,250

 

What we Do NOT Know YET about This House:

  1. A Simply Do It agent has NOT seen this house yet

What Do We Know About This House

  1. $339 projected cashflow AFTER expenses and mortgage payments
  2. It should qualify for both cash and conventional financing.
  3. Sitting on the market for a ~95+ days
  4. Low crime area
  5. Based on FEMA’s map – is in a flood area – needs to be confirmed w/ an insurance agent.

Your Next Step

Want to understand the flow of buying a D.I.R property? See the flow chart here

Contact Simply Do It – meet@simplydoit.net

Agent’s Notes from Visit

  • N/A yet

What is a D.I.R – Diamond in The Rough – Investment Property?

Profit from Properties that Slip Through the Cracks

Some properties fall between the cracks – this one is an excellent and very rare example.

What does “between the cracks mean?

A retail buyer or an investor who uses a mortgage would NOT be able to purchase this house. This house will not be qualified by an appraiser, reason being – it needs some work in order to pass appraisal. This level of work, although is not something every buyer is willing to do, are you merely because of the cost associated.

House flippers may not see enough profit margin and will pass this one over.

This creates a great opportunity for a cash buyer who is willing to do some work on this house and make it livable.

As a buyer who has the ability to buy cash, you should see this “slipping through the cracks” as a great opportunity.

Personal note: I need to look at more than 300 houses to see one with all this upside potential.

D.I.R Fee: 2% with a minimum of $3,500 + regular Simply Do It fees applicable 

 

Notes from Listing (seller’s) Agent/Owner

House needs: N/A yet

Agent Notes

N/A yet

Photos Taken During SDI’s Agent Visit

N/A yet

FAQ

  • Who will do the work?
    Simply Do It’s vetted local team will handle the work
  • Is this a full/complicated rehab project?
    No. As much as we can tell it will require a painter, flooring, roofer, HVAC, misc. other items (handyman)
  • Do you have an inspection report?
    No. Buyer will need to hold an inspection once under contract
  • Can I buy remotely/sigh-un-seen?
    Yes. Simply Do It has vetted, trusted teams on the ground including property manager, Realtor, and lender.
  • Do you provide ANY guarantees?
    No. This is an investment and there are no guarantees. We will do our utmost to help any buyer as we have assisted in more than 4500 transactions nationwide for 16+ years.
Address: txt/email for details
Area:
State/County:
Zip: 34689
Country: United States
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Property Id : 22388
Price: Suggested Offer $ 245,000
Property Size: 1,957.00 ft2
Property Lot Size: 6,098.00 ft2
Rooms: 8
Bedrooms: 3
Bathrooms: 2.5
Year Built: 2001
Garage: Attached
Garage Size: 3
External Construction: Block
Roofing: Composition Shingle
Rent (mo): 1875
ROI (ann): 26.8
Cashflow (mo): 339
Property Taxes (mo): 204
Insurance (mo): 115
Repairs (mo): 75
Management Fee (mo): 149
Leasing Fee (ann): 62.08
HOA (mo): 35
Vacancy Rate (ann): 4
Other Features
fenced yard
fireplace
pool
walkscore14 / Car-Dependent more details here

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