From my homebase in Brightwood Trails I look for investment properties. One of the potential properties is 4017 Baker St. Looking at the MLS sheet would leave you to believe that the house just needs a "few" upgrades to make it a great place to live. After all it does have a great location and the subdivision of Forestwood is very affordable.
4017 Baker St Durham, NC is listed at close to market value which would be ok if it didn't need a full rehab. The little room is the master bath shower. The roof, HVAC, siding, carpet, paint, vinyl, cabinets and so on. Well you get the picture.
I talked my investor into making a verbal offer (he wouldn't bother with a written offer) even though I told him he was much better off with a written offer. The seller did not take the verbal offer. Now I am not sure if they just didn't want the low offer or if they have a higher mortgage then what was offered. The house has been on the market for 247 days and is vacant.
At a lower price this home would be great for one of my buyers interested in a 203K loan as that would allow them to purchase the home and fix it up to their tastes. the home would be perfect for my HomeTown Hero program as well. The rehab of 4017 Baker St would benefit the subdivision of Forestwood as well as provide my buyer a great house to live in. Hopefully the seller will come down on the price and let someone rehab this nice home.
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