Richmond Village Block Flip

Richmond Village Block Flip

4 bed 1.5 bath 1300 sq ft Built in 1969 Single Family
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74
Quality of Comparables
Low High
14 /20
Level of Rehab
Heavy Light
16/20
Location of Neighborhood
Far Close
17/20
Quality of Floor Plan
Choppy Flowing
14/20
School Rating
F A
5/10
Placement in Neighborhood
Busy Calm
8/10
Property Details

Introducing this ideal flip or BRRR opportunity located in the investor-friendly subdivision Richmond Village. In recent years, this community has served as a hot spot for flippers and landlords alike. Due to its central location and low price point, this is ideal for first-time homeowners and renters, presenting multiple exit strategies. This property is a diamond in the rough, offering immense potential for those seeking a lucrative investment opportunity. The home features 4 bedrooms, 1.5 bathrooms, 1,300 living square feet, and a private carport. 

While the property requires some repairs, it also boasts notable upgrades, such as a roof from 2016, HVAC system from 2011, and updates to the electrical in 2011 as well. We suggest doing a full-blown cosmetic interior update to achieve maximum resale potential, with some subtle improvements to the exterior. 

Strong comparables in the area suggest that this flip, if done correctly, should garner a ton of interest once listed on the retail market; We are advertising this property with a competitive After Repair Value of $315,000. Some homes in the area have sold as high as $242 a sqft just a few months back. Whether you decide to flip it or turn it into a rental this home comes with an ample amount of equity! Call your EquityPro Advisor today to secure this investment! 

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We recommend flip
Rental Income
$2,500 mo. / $30,000 yr.
Estimated Taxes
$3,400 / yr.
Maintenance
$500 / yr.
HOA Dues
$0 / yr.
$21,300
Projected Income
8.77%
Estimated APY
$49,225
Projected Income
18.52%
Estimated ROI

Comps

 
Listed
 
Pending
 
Sold

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