Knoxville = Bon Air, Mount Oliver, Carrick, Beltzhoover, Arlington, Allentown, et al’s neighbor.
Big Brick SFR has:
- Level yard w/rear deck
- Tall covered front porch
- Proximity to all the businesses in SouthSide, Mount Lebanon & Washington, etc.
- NICE OG hardwood
- A cool street w/historical houses
- Central heat
- Pretty cheap taxes
- Updated electric+plumbing
- Surprisingly decent, big, tiled, open kitchen
- Good walkability
- A tenant for the next few days
- A 2-car garage
- needs help, although photo shows cars do fit in there!!
Also needs (*see all pics to get idea):
- Some drywall & general handywork
- Post-tenant cleaning & repair
- Windows someday (they’re double-paned, but not new)
- A roof & furnace before too long
- Bathrooms re-updated if preferred
- Bedroom floors tightened-up
Wouldn’t be the greatest expense on a smaller property, yet it might add-up a bit per its size.
Tricky to gauge rental capacity w/it being the only 6-bedroom (or even 5) in the area; it rented as-is @$650/month.
Area 4BRs going for >$1k; can anticipate between $1,150 & $1,350 @ARV depending on how far you go w/updates.
- As-is if you re-rent for $650 again: 12.25%
- full ARV: 14.50%
Knoxville’s rep is coming up a bit:
- 332 Reifert Street sold last year for $90k; it’s ½ the size.
- Same deal @302 McKinley Street 450 feet away.
- Or perhaps you can make it look like this Carrick house for exceptional ARV.
- Taxes: $1,267
- Electric: Updated
- Plumbing: Updated
- Kitchen: Quite decent; eat-in
- Bath: (Both) Sufficient
- Roof: 15+ yrs old
- Furnace: 30 yrs old
- Hot Water Tank: 8 yrs old
- Windows: Double-paned (older)
- Floors: 2.5
- Parking: Off-street (2-car detached garage) + On-street
- Rental Income: $650/mo – ends 09/30/2019
- Rental Potential: $1,250/mo