FIXER in SE Portland PICK of the Week
My pick this week is a Rummer-inspired diamond in the rough located in SE Portland Mill Park Neighborhood.
The homes for sale in the SE Portland market are gaining some heat and activity, when they have be stagnant for some time. Homes in SE Portland are moving quickly especially the low-end fixers.
My colleagues in the area agree -- the SE Portland market is moving quickly, especially SE Portland FIXERS.
Photo is NOT the property for sale only an EXAMPLE of a Rummer
Are Fixers in SE Portland a Good Buy?
Some SE Portland fixers for sale are not good buys -- no matter what the price! They are located in high-traffic areas, or need a lot of expensive work. But this property located in SE Portland, although a fixer, is my pick of the week for price, location and YES -- even condition!!
11633 SE Lincoln CT, Portland, OR 97216 (MLS # 12576876)
(all data current as of 3/21/2012)
| $116,800 |
| 3 |
| 1 full |
| 1,304 sq ft |
| 6,969 sq ft |
This property has old-growth Redwood siding!! You can't buy this type of siding anymore, and if you do, it will cost you tens of thousands of dollars!! The Rummer-esque feel, natural hardwoods and minor fixing on this place makes it my pick of the week.
Solid foundation, dry crawlspace, no apparent leaks in the ceiling -- although a new roof is clearly warranted it is not currently leaking! Minor dry root visible on eaves and soffits.
Remember kids . . . this is a FIXER. YES, it does need some elbow grease and sweat equity to make it shine, but we focus on what it HAS to offer and the potential. Focus too much on the negative, and you'll continue being a renter.
Even at FULL LIST PRICE -- plus $10,000 +/- added in to rehab -- the mortage would be LESS THEN RENT!! About $800/month including PITI at 4% interest, 30 year fixed. You'd be NUTS not to take this property seriously!
This SE Portland Fixer Qualifies for Fannie Mae HomePath
Fannie Mae HomePath properties come with 3% down, NO PMI and can add the repairs/rehabs into the life of the loan, so no out of pocket expenses.
I work with a loan officer that does Fannie Mae Home Path loans . . . give me a call and we'll talk!!
This SE Portland fixer for sale is owned by Fannie Mae and can be purchased with as little as 3% down. It is also eligible for HomePath Financing which means the funds to rehab this SE Portland fixer for sale can be included in the loan.
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