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- Price = $35,000
- Existing house is a 2/1, 1090 sqft (tax records).
- Main 2 rooms built 1900 – Addition to house added on 1950’s adding kitchen, bathroom, and extra room
- ARV/Rent:
- Estimate ARV at $90,000-110,000 Depending on the level of rehab
- Estimate rent for house at $1000-1200
- Check out photo tour & details below!
- Roof needs to be replaced
- Kitchen and Baths will need to be redone – The kitchen sink currently leaks via plumbing and has rotted out the sink base
- No HVAC in the home – Current situation has been window units. Gas lines throughout the house for different heater options. Based on exit strategy, window units may be suitable for buy/hold investors with the addition of a radiator heater to existing gas line or baseboard heat.
- Windows are single pane windows and could use replacing – minimum need some reframing on each window
- Electrical panel was replaced and upgraded in 2017
- Comps:
- 3537 S George St, Farmville, NC 27828 – 2Bed/1Bath – 798 SqFt – Sold for $127,000 = September 2023
- 3754 Cameron St Farmville 27828 – 2Bed/1Bath – 925 Sqft – Sold for $89,000 – May 2023
- 4387 W Vines St Farmville, NC 27828 – 3 Bed/1 Bath – 975 SqFt – Sold for $79,000 – July 2023
- 8278 258 Highway N, Farmville, NC 27828 – 3 Bed/2Bath – 1,398 SqFt – Sold $133,500 – October 2023
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PROPERTY DETAILS & ESTIMATED REPAIRS:
Buyers, please complete your own Due Diligence!
General Thoughts:
Farmville is about 20 minutes away from Greenville and 25 minutes from Wilson, which are both markets where appreciation and rent pricing have surged since Covid. The rents in the area range from about 800-1200 for a 2 bedroom house, and with the space of 1090 Sqft, you can easily convert this home into a 3 bedroom/2 bath home OR with the current 2 front door, convert this into a duplex with 1 bed / 1 bath each.
There is a medium to heavy rehab needed depending on your end goal.
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