Sits on both Old Coal Hollow + Coal Hollow (you feasibly recognize it if you’re local; sits in proud isolation w/all the parking out front, on the left coming down Rte. 130/Coal Hollow):
– house accessed from either road
-garage from Coal Hollow (at least right now – rebuild & poss add driveway from OCH)
- big open-concept kitchen
- formal DR
- updated electric
- central heat **newer furnace in basement just awaits installation!!
- original hardwood, interior doors, high ceilings
- walk-out basement
- much parking – covered (2-c.-garage) + uncovered (gravel pkg. pad + behind)
- many covered outdoor decks/porches
- exceptionally sunlit – much light enters the entire property, not just the bonus-sunroom.
Prop is an asset via location, layout/size of interior & *land, condition despite being pretty much a full gut, and the anticipated ROI.
Verona ZIP/central Penn Hills yet situated on a big lot, which is surrounded by a loooong stretch of *abandoned, vacant lots; opp to work a deal w/the township to secure an enormous chunk of land, much of it previously developed (empty parcels mapped in photo reel).
Cap rate will have your investment paid back in 3½-4 years, est. 24.8% if you put mid-$20k’s into rent-ready reno. Could be less depending on your trade/resources. ARV mid-$100k’s.
Some recent work done by carpenter-owner, also a fellow investor.
A good transparent prop for many investor types.
- Taxes: $1,643
- Electric: Updated
- Plumbing: Updated
- Kitchen: Needs updating
- Bath: Needs tub/shower/drywall work; otherwise not bad!!
- Roof: Functional, replace sooner than later
- Furnace: Newer! (on-premises, needs installing)
- Hot Water Tank: OK
- Windows: Mixed
- Floors: 2+
- Parking: 2-car detached garage + parking pad + more off-street
- Rental Potential: $1,575-$1,625/mo