Starting Price: $445,000

Bedrooms: 2

Bathrooms: 2

Square feet: 1,019 sqft

Built: 1977

HOA: $473 per month

Rehab Estimate: $35,000

ARV: $606,500 includes 10% annualized appreciation

Profit Analysis: $61,800 ROI 12.3%

Closing date: Oct 30th or sooner

Notes: 

• In and Out in Less Than 20 days
• Great location in a quiet neighborhood on the West side of Queen Anne
• Great view of the golf course, ocean, and surrounding aerial view. The view and deck are what make this property unique and with a higher ARV. Many of the other condos on the cliff edge do not have a panoramic view of the sites listed above 
• Very clean inside with minimal cosmetic fix, seller has owned it for 36 years, and only spent 2 months in it each year between Alaska and Hawaii
• The parking space is one of a couple that are covered and is included with the unit.
• HOA is low compared to the relative area, and there are no major assessments scheduled for the next 15 years. 30-year roof done 14 years ago 
• Plenty of street parking day and night and 3 guest parking spaces.
• Will make for a great flip
• Storage closet is also included. 
• The whole south facing side of the building was replaced with siding and vinyl windows. Seller paid extra to have the slider and left west facing window replaced. The only window not upgraded is one on the west side to the right of the slider, which is in front of the kitchen and dining area. 

Flip Analysis above. Things to note and assumptions:

• Closing Costs/WA Excise Tax: VERY RARE buyer and seller split the closing costs and seller pays their own excise tax. 
• 10% down HML with 1.75 points and 9% rate. I'm assuming you have terms at least this good, but if you don't I'm happy to put you in touch with my lender. Obviously, if you're doing this with cash it's even better.