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South Seattle Fixer priced 40 cents on dollar! ($121k below tax assessed value of land)!

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Services for Real Estate Pros with Heaton Dainard

 

S Seattle Fixer

40 Cents on the Dollar!

$121,000 Below Tax Assessed Value of the Land

 

 

 

Greetings!

 

8058 S 128th st,

Seattle WA 98178

 

 

Bedrooms: 3

Bathrooms: 1.5

Building Sq Ft: 1920

  • 960 down / 960 up (according to tax records)

Tax Assessed (2010): $226,800

Lot Sq Ft: 1.98  Acres (86,248)

Year Built: 1954

Garage: OVERSIZED 2 car

Tax Assessed Value $201,000 (Value of the land is $200,000)

Septic  

Currently this property needs a little work to get it market or rental ready. It sits on a oversized 2 acre parcel and is a great play for a long term hold and possibly subdivide in the future. Panel has been updated, but the rest of the house needs a full face lift for a flip. When this property is completely done, it will be one of the only houses for sale on this size of a lot in this price point.

 

 

House needs some work:

- Roof

- Windows

- Refinish Hardwoods

-  Update Kitchens

- Update bathrooms

- Interior / Exterior Paint

- Trim / Mill Work

-  Spruce garage

- Landscaping

 

 

Total Investor Acquisition = $80,000

 

Fixed Up Value = $190,000 - $199,000 (maybe more, hard to comp the 2 acre lot)

Click Here For More Pics: https://picasaweb.google.com/112506832239218751378/BurienFixer 

 

 

 

 

   

 

Exit Strategies:

 

Flip:If you put $50,000 in to remodeling the house completely, you will essentially be into the property for $130,000. At a sales price of $199,995 - $17,995 (selling cost) - $120,000 = a net profit of $52,400.00!

­Rental Income: Average Rents are $1200 - $1400 a month, depending on upgrades.

Based on a mortgage of $600 a month (a loan amount of $80,000 dollar loan with a rate of 4.5% with tax and insurance), you have the potential to cash flow $800 a month!!!

 

 

Call immediately to reserve this opportunity

 

 

Call Immediatly to Reserve this Opportunity!

Sincerely,

 

James Dainard

Invest Now, LLC

218 Main Street #388

(425)246-2187
james@investnow.net