1417 Milan St, Durham, NC 27701. The cash price is $255,000.

1417 Milan has a ton of value-add potential. The unfinished walkout basement already has a bathroom and is full height, full footprint. Finishing the basement would create an additional 960 sq feet of living space, turning the 1,653 sqft of living space into 2,600+-. The rest of the house is a simple cosmetic rehab. 

Here are the pictures. 

Below are the properties As-Is details:

Single Family Home

3 bed/3.5 bath

Vacant

SqFt: 1,653 

Lot: 9,845

Year Built: 1987

Cash Price: $255,000

Comps:

6 Jessica ct sold $10k above ask in September for $299,100. The square footage and layout are nearly identical, MINUS THE BASEMENT. Jessica ct sold for $177/Sqft. Using the same price per square foot, suggests an ARV of $460,200, after finishing the basement. This is higher than you can attain, but it’s a good marker. 

10 Cynthia Ct is 1625 sqft and is pending at $340,000 ($209/sqft) and went under contract in one day. 1417 Milan has the potential to be 1,000 sqft larger. 

3 Hellen Ct  sold this month over ask for $335,000 ($217/sqft) and went under contract in three days. 3 Hellen is 1,538 sqft.