🏡 OFF MARKET FLIP OPPORTUNITY | Commerce Twp, MI | Hidden Gem 🏡

Description

Photos:
https://drive.google.com/drive/folders/1sYx5C7J2TuvRZgqMBxM5VmgPr9etRH3S?usp=drive_link

PROPERTY DETAILS
720 square feet
2 bedrooms
1 bathroom
No garage
Michigan basement
Ranch
Built in 1955
Lot size of 0.22 acres

PROPERTY INFORMATION
This property is located in a great neighborhood towards the end of a quiet street. The home has a large fenced back yard which rears into a large wooded area; making it a perfect quiet getaway.

The property was previously purchased by an inexperienced flipper who could not complete the project due to Commerce Township mandating a ‘stop work order’ because the flipper never pulled permits for the renovations.

The previous flipper completed lots of the work such as electrical and plumbing. This project is perfect for anyone who is looking to make a sizeable profit for a quick flip on a small and easy home.

The subject is located in a great neighborhood and is surrounded by multiple beautiful lakes. Homes in this neighborhood sell extremely fast (typically days on market is less than 10 days). There is minimal inventory in this neighborhood and this deal will not last long!

COMPARABLES
675 Cranbourne St, Commerce Township, MI 48382
This comparable sold for $164,000 on 10/5/2022
This comparable is a 680 SF ranch (with an attic), 2 bedroom, 1 bathroom, no garage, crawl space foundation, built in 1948 on 0.22 acres
This comparable was not renovated and was very outdated on both the interior and exterior when it sold. If the comparable had been renovated and updated, it would have EASILY sold at a much higher price
The comparable is located just two homes west from the subject
The comparable was listed on the market for only 10 days before going under contract; showing how desirable homes in this neighborhood are. The vast majority of homes sold within a one-mile radius from the subject sell in under 10 days from the time they are listed
The comparable sold in October of 2022 – when interest rates were continuously increasing and the market was EXTREMELY slow. Todays improved market would have generated an even higher sales price for the comparable