$50,000 · CORAPEAKE, NC 27926
Works for flippers

Available

$50,000Asking price

2 bd · 1 ba · 864 sq ft · built 1955

CORAPEAKE, NC 27926

No contract on file

via InvestorLift Classic

3 views · listed Oct 28

Works for flippers

The Numbers

Sells for (ARV)From the listing: $80,000
Asking price: −$50,000
RepairsMiddle of the seller’s $5,000 – $10,000. Ours: $10,000 – $21,000: −$7,500
Loan, holding, closing20% down, 12% interest, 2 points, 63 days: −$5,528
Profit21.2% of ARV · flippers want 10%+: $16,972
Works

Works for a flipper up to $58,000.

SENDFLIP LLC

Brad M

No reviews yet

Comps

ARV $80,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $34,000.

The sales behind this value are shown to members.

ARV $80,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

SENDFLIP LLC

Brad M

No reviews yet

Seller Description

PROPERTY SUMMARY: • Address: 616 State Highway 32 N, Corapeake, NC 27926 • County: Gates County (Parcel: 05-00553) • Property Type: Single-Family Detached • Specs: 2 Bed / 1 Bath | 864 Sq. Ft. (+ 240 Sq. Ft. Enclosed Porch) • Lot Size: 0.5 Acres • Year Built: 1955 • Systems: Crawl Space Foundation, Septic System • Occupancy: Vacant (unlocked front door, no lockbox; former tenant belongings remain inside)

FINANCIALS & DEAL STRUCTURE: • Price: $50,000 (Cash Only) • Assessed Value: ~$80,000 • Nearby Comps: $68,500 – $185,500 • Earnest Money Deposit (EMD): $3,000

CONDITION & SCOPE OF WORK: • Major renovation / full gut required. • Needs full replacement or overhauls on: Roof, Windows, Electrical, and HVAC. • Excellent upside on a quiet half-acre lot. Perfect for a contractor or investor seeking a lucrative fix-and-flip or high-yield rental hold.

SELLER MOTIVATION & TERMS: • Sellers are purchasing a new primary residence and need this loan cleared to fix their debt-to-income (DTI) ratio. • Straightforward, hassle-free cash transaction required.

Disclaimer: All properties offered are wholesale or assignment contracts. Buyers must perform their own due diligence, verification of comps, and inspection of repairs needed.