Overview
- 3 Bedrooms
- 3 Bathrooms
- 1,320 ft
- Year Built: 1960
Description
Address: 2929 Ave N 1/2, Galveston, TX 77550
This 3-bedroom / 3-bathroom property makes sense for any rental investor! A large equity spread in the deal.
Deal Takeaways:
New Roof (last year) / New HVAC / New flooring throughout
Kitchen and Bathrooms new tile
Cosmetic Work needed throughout the house
Garage Unit: 1 bed/ 1 bath
Main Home: 2 Beds / 2 Baths
Financials:
ARV: $350,000
Purchase Price: $281,000
Estimated Profit Details (Flipper/MLS Sale):
ARV: $350,000
(*) 94% for sale commissions
(-) $281,000 purchase price
(-) $5,000 closing / holding cost
(-) $30,000 rehab
(=) $13,000 profit
Estimated Rental Profit Details:
Rental Income: $2100
(-) $221 monthly tax
(-) $110 monthly insurance
(-) $210 property management
(-) $210 recommended allocation for repairs, vacancy, etc
(=) $1,349 a month
Property Details:
Garage Unit: 1 bed/ 1 bath
Main Home: 2 Beds / 2 Baths
1,320 Home Square Feet
4,800 Square Feet Lot Size