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Great Fix and Flip Opportunity in Highlands Ranch!! ARV 235!

Listings details

Price
$145,000
Type of Listing
Bedrooms
Bathrooms
Heating
Gas Furnace
Square Footage
1594Sq. Ft.
Address
766 Stowe St., Highlands Ranch, CO, 80126
Telephone
303-332-4655
Posted
18 August 2011
General Features
Great Neighborhood on a corner lot
Interior Features
Fireplace
MLS #
1020876
Unheard of wholesale opportunity in Highlands Ranch! This is a tri-level, 3 bed/3 bath, 1594 total sq ft. house. This house is offered at 62% ARV of $235k. In the last 5 months 5 houses have sold with similar features from 235-260k. Fix up is estimated at 30k (27k with a 3000 cushion) break down below. All that means that if you are a cash buyer your estimated net return is $50,000 (ARV-price-fix cost-closing cost at 4.2%). If you are going with a hard money lender your estimated net return is $35,000 (with 4 points and 15%). ARV estimated by using sold comps from MLS.

Earnest Money is $3,200. Due Immediately to hold this house for you. The actual closing of the house will be in mid September (on market by November 1 with a 6 week flip). This money is non-refundable.
My partner is a Realtor in Denver, CO. If you purchase this wholesale he will discount his normal fee by 1/2 to list the property when you are completed.

This is a cosmetic Flip. Has a nice roof, solid structure, and fence (needs paint).
Repair
3 Bathrooms $6500
Kitchen $7000
Carpet $3000
Windows (most don't need replace we will say 10, I think 2-3) $2500
Concrete Slab in back yard $1500
Paint/Texture $3000
Outside Paint (fence/house) and replace couple siding $1500
Doors $1500
fixtures light/electrical $500

Total 27,000 leaving 3,000 for cushion.

Landscape (water..maybe seed) already in place.
Map

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