Right over the bridge from Naval Base Norfolk is this quick flip or long term hold in a stable, housing short market in close proximity to the base. Expanded square footage and a guest house as a bonus that could be rented separately for additional income even. Motivated seller needs to liquidate for cash asap.

ARV = 226k *.7 - 35k in essentially a very healthy cosmetic budget = contract for assignment at 123k

See attached pictures for clarity. The immediate improvements would be paint, floors, and bathrooms. Siding would greatly enhance curb appeal but is in good condition. Roof, Electric Panel, HVAC and Plumbing were all replaced approx 10 years ago. Lots of life in them. This is a pretty easy and straightforward lipstick flip which could then be cashed out or rented for approx $2000 per month for similar properties.

COMPS:

406 S Hope St, Hampton, VA 23663 – 2/2 and 954 sq - sold for $185k at 203 p sq ft

208 Downes St, Hampton, VA 23663 - 3/ 2 and 1,308 sqft - sold for $175k at 133 p sq ft

210 Downes St, Hampton, VA 23663 – 3/2 and 1308 sq ft - sold for $194k at 149 p sq ft

Seller needs to liquidate and free up capital asap; lets make a deal work!