$850,000 · KEMAH, TX 77565
Tight for flippers

Available

$850,000Asking price

10 bd · 6 ba · 2,500 sq ft · built 1950

KEMAH, TX 77565

No contract on file

via InvestorLift Classic

3 views · listed Oct 23

Tight for flippers

The Numbers

Sells for (ARV)From the listing: $1,050,000
Asking price: −$850,000
RepairsMiddle of the seller’s $40,000 – $80,000. Ours: $35,500 – $74,000: −$60,000
Loan, holding, closing20% down, 12% interest, 2 points, 84 days: −$89,379
Profit4.8% of ARV · flippers want 10%+: $50,621
Tight

Works for a flipper at $799,000 or less.

OFFERPROP LLC

OfferProp

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Comps

ARV $1,050,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $844,000.

The sales behind this value are shown to members.

ARV $1,050,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

OFFERPROP LLC

OfferProp

No reviews yet

Seller Description

KEMAH, TX | 3-PROPERTY MULTIFAMILY & MIXED-USE PORTFOLIO | CASH-FLOW OPPORTUNITY

701 & 703 7th St + 609 Kipp Ave, Kemah, TX 77565

Asking Price: $850,000 — Slightly Negotiable3 Properties | 6 Identified Units + 609 Kipp AveReported Rental Income: $10,900/Month | $130,800/Year (701 & 703 Only)Projected NOI: $78,809/Year (701 & 703 Only)Closing: Details Available Upon Request

Excellent multifamily investment opportunity in Kemah, Texas! This three-property portfolio combines residential rental units, commercial space, and an additional investment property, offering investors multiple income sources within one acquisition.

PORTFOLIO BREAKDOWN

701 7th Street — Residential Quadplex4 Residential Units2BR / 1BA LayoutsReported Rental Income: $7,550/MonthExisting Lease DocumentationRoof Reportedly ~5 Years OldWindow A/C Systems

703 7th Street — Mixed-Use Duplex2 Units — Commercial & Residential/Mixed-UseExisting Tattoo Shop TenantReported Rental Income: $3,350/MonthCommercial Lease DocumentationRoof Reportedly ~11 Years OldWindow A/C Systems

609 Kipp Avenue — Additional Investment PropertyAdditional Property Included in Proposed PortfolioLease Documentation AvailableProperty Photos AvailableRoof Reportedly ~11 Years OldAdditional Income & Property Details Subject to Verification

INVESTOR TERMS

Asking: $850,000 — Slightly NegotiablePortfolio: 701 & 703 7th St + 609 Kipp AveIdentified Units: 6 at 701 & 703, plus 609 Kipp AveReported Gross Income: $130,800/Year (701 & 703)Projected NOI: $78,809/Year (701 & 703)Closing: Details Available Upon RequestDue Diligence: Lease Materials, Property Information & Supporting Documents Available

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