Property Listing

OFF Market Deal in Mary Esther! SOLD!


Property Overview

Amazing Off Market Deal In Mary Esther!!

We are selling our Assignable Purchase and Sale Agreement for:

$95,000

  • 3 Bedrooms 1.5 Baths
  • 0.22 Acres
  • 1564 sqft 
  • Built in 1964

This is a great 3 bedroom ranch style home in a quiet, well-established neighborhood that backs to Hurlburt field.  The neighborhood has a playground and community garden that is located just two houses away.  The home consists of 3 bedrooms and 1.5 baths with tile throughout.  The garage has been converted to extra living space that can easily be turned into a large master with the addition of a bathroom and closet; making this a 4 bed 2 bath home.  There is a utility room and screened in back porch.  This home is located on almost a quarter acre with Hurlburt Field on the other side of the back fence. The back yard is a nice size with old growth trees for shade and a large shed for storage.

The electrical has been upgraded to copper wiring and the furnace was replaced in 2012.  All new tile was installed a few years ago but will need to be replaced in the hallway due to a plumbing issue that will need to be fixed.  The bathroom and kitchen needs updated and painting throughout.  The status of the roof is unknown, our estimate for repairs includes the cost of replacing the roof.  There are a few different exit strategies you can use just depends on what your end game is.  Lot's of potential with this property!  This is a fantastic income producing opportunity that won't last long!

Fix and Flip

(Keep as a 3 bed 1.5 bath)

  • Purchase Price:  $95,000
  • Estimated Repairs: $46,000
  • After Repair Value: $190,000
  • ROI: 21%

Fix and Flip

(Convert to 4 bed 2 bath)

  • Purchase Price:  $95,000
  • Estimated Repairs: $60,000
  • After Repair Value: $210,000
  • ROI: 23%

Buy and Hold

  • Purchase Price:  $95,000
  • Estimated Repairs: $22,000
  • Rental Income:  $1300/month

 

All repair estimates are figured with the cost of hiring a contractor to perform all work, estimates will vary and may be lower depending on your own exit strategy.

Cash or Hard Money Purchase - No Seller Financing

Agents, please add your commission to any offers.

Please contact Adele at (850) 710-0710 for more information or to schedule a viewing.

Property Details
Beds3Baths.1.5Square Ft.1564
WaterCitySewer/ SepticSewerLot Size0.22 acres
Year Built1964StyleRanchHeatingCentral Air
Top