Northern Virginia 2 for 1 Deal – HOT AREA Cheap Price
We picked up a property that does NOT fit our investing strategy in Dumfries, VA.
Let me know if you are interested:
Sale Price: $129,900.00
Estimate Repairs: $80,000.00
After repair value: $350,000.00
Profit Margin: $140,000.00
Description of Home
Type: Single Family
Lot Size(Acres): 0.75 – 1
17007 Mine Rd. (2br/1ba) – Active – $175,000.00
4151 Elby Drive (3br/1ba) – Sold price – $200,000.00
TWO homes for LESS than the price of ONE! This home is NOT a short sale, foreclosure, or in MLS. Two homes located on one lot (can NOT be subdivided). Septic system has failed. I have written estimate from a local, certified septic inspector to fix it for $50,000.00, STILL leaving you plenty of built in equity! You can also fix, refi, and rent. Section 8 is currently paying over $1200/month for 2 br units & $1400/month for 3 br units, giving you gross rent total of $2,600/month. If you refinance 100% of the purchase and renovation cost, your PITI would be about $1400/month, GIVING YOU A $1,200/MONTH POSITIVE CASH FLOW!! Normally, you find those returns only in SE DC and PG county, NOT in NoVA!!