- 3-4BR
- huge fenced yard
- central heat
- tall ceilings
- CLEAN, mechanically sound
- in a central-to-everything North Side neighborhood
- on gigantic lot (~1/3 acre + 1/4-acre lot next to it has it sitting on over 1/2 an acre)
Hold, resell (easy work), or live in as primary – versatile property works for any of it.
Excellent tenant @$1,295/month just vacated; property rented historically between $1295-1500. Cap rate will be similar whether you update it or not before re-renting (16-17% est.).
Can move in with time to still enjoy sitting on the bench under shade trees in the large yard, and walk/bike to Riverview Park/The Observatory.
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Things to get it fully tight:
- Main bath + kitchen would benefit from an upgrade
- 1/2 bath in basement would need FULL overhaul, *but* you’d have a solid 2nd BA
- Rest of roof replacement (was partially done)
- 2nd-floor deck needs replaced
- Misc. general cosmetics
Otherwise, it’s really not bad at all. Trustworthy rental or primary property. ARV seems to be hovering in the $175-185k range.
- Taxes: $793
- Electric: Updated
- Plumbing: Updated
- Kitchen: OK; upgrade preferred
- Bath: (1) Needs updating; (bsmt) needs shredded
- Roof: Partially replaced; the rest: 20 yrs old
- Furnace: 15 yrs old
- Hot Water Tank: 5 yrs old
- Windows: Double-paned
- Floors: 2+
- Parking: On/off-street
- Rental Potential: $1,500+/mo.