FIX AND FLIP OR HOLD IN 89408!

🏚 VIEW FULL ADDRESS ON THE DEAL PAGE LINK ⬇️

✅ For a quick response, call or text Alex for any details on this DEAL! (775) 577-7544

💰 Click the WIN IT NOW! button to lock this one up and avoid bidding wars

🔥 FIRST COME FIRST SERVE

Fernley, NV 89408

Property Overview:

• Single Family, Manufactured
• Not Converted to Real Property, Comes with the land
• 1536 sq ft
• 2 beds, 2 baths
• 1975 build
• Lot size: .19 acres

Other Info:

• Vacant at COE. COE is on or before 9/15.
• Rehab: See 150+ Photos, detailed Walkthrough Video, and home inspection. Full remodel needed. Roof, interior/exterior paint, flooring, fixtures, new kitchen, new bathrooms, yard cleanup.
• 8/3/23 Home Inspection Available.
• Price point is low enough that multiple exit strategies could be a possibility: flip, hold, seller finance to an end user, rip and replace.
• Buyer to assume personal property left behind by seller. Seller is continuing to remove personal property but some of it will be left behind.
• Buyer Pays all closing costs.

Comps:

**There are no recent trades for non-FHA financeable homes in the neighborhood. The first two comps are financeable and in the same neighborhood. There is another neighborhood of manufactured homes close by. Based on the financeable comps there, (like 920 Villa, sold $280k in April), it seems that these two neighborhoods are comparable in price - both have financeable homes going for $265k - $295k. The third comp is a non-financeable home from that neighborhood. In other areas of Northern Nevada, we've seen non-financeable homes trade for around 15% less than their financeable counterparts. 

1088 Scott, Fernley, NV 89408 - 3/2/0 - 2006 Sq Ft, 2006, .18 Acre Lot. Bigger, newer, clean, but original. FHA Financeable.

SOLD $293,000 on 6/21/2023

914 Scott, Fernley, NV 89408 - 3/2/0 - 1248 Sq Ft, 1984, .23 Acre Lot. Smaller, flipped, bigger lot w/ trailer parking. FHA Financeable.

SOLD $265,000 on 5/18/2023

1010 Villa, Fernley, NV 89408 - 3/2/0 - 1536 Sq Ft, 1974, .11 Acre Lot. Not updated, in the nearby neighborhood, but its a non-financeable comp close by.

ACTIVE $235,000 

Assuming this is a $250,000 house if it was financeable and after a full remodel and based on the available data, we're estimating ARV at $210,000. 

Asking Price: $105,000

Closing Date: on or before 9/15/23.