Estimated ARV: $285,000 - $300,000 (after full renovation)
Estimated Repairs: $50,000 - $70,000 (full interior update, systems and finishes)
Property Overview This single-family home on Saint Michael Ave in East Point sits on a 7,450 sq ft lot with a crawl-space foundation. It is a 3 bed / 2 bath, 1,200 sq ft home built in 1948, with a current "as is" value estimate of $160,000.
Comparable 3 bed / 2 bath homes nearby have sold in the $293,000 to $300,000 range, which leaves room for an investor to add value through a rental hold or a renovate-and-resell strategy. The location is close to East Point shops, Camp Creek, the airport, and Midtown.
Deal Details
Bedrooms / Bathrooms: 3 BR / 2 BA
Living Area: 1,200 sq ft
Year Built: 1948
Lot Size: 7,450 sq ft
Foundation: Crawl space
Asking Price: $119,900
Current Value Estimate (as is): $160,000
Estimated Monthly Rent: $1,614/mo
Numbers Snapshot
Purchase Price: $119,900
Estimated Repairs: $50,000 - $70,000
All-In Cost: $169,900 - $189,900
Estimated ARV: $285,000 - $300,000
Estimated Gross Spread: $95,100 - $130,100, before closing and holding costs
