🏠🔥 Low Cost Flip | Muscatine, IA | 88k Spread ➡️🔐

Description

Address: 1001 E 7th St, Muscatine, IA 52761

This 4 bedrooms / 1.5 bathroom property makes sense for any rental investor! A large equity spread in the deal. A potential easy BRRRR/Flip property!

This property is currently OCCUPIED. Contact the Dispo Manager for viewing options. Property to close vacant.

Deal Takeaways:

Property occupied until closing on 04/30/24

A lot of belongings currently in the property, but occupants to move out prior to closing

Roof replaced 2017

HVAC and Furnace replaced 2019

Financials:

ARV: $195,000

Purchase Price: $107,300

Estimated Profit Details (Flipper/MLS Sale):

ARV: $195,000

(*) 94% for sale commissions

(-) $107,300 purchase price

(-) $30,000 rehab/make ready budget

(-) $3,000 closing / holding cost

(=) $43,000 profit

Estimated Rental Profit Details:

$1,150 estimated monthly rent

(-) $137 monthly tax

(-) $110 monthly insurance

(-) $115 property management

(-) $115 recommended allocation for repairs, vacancy, etc

(=) $673 a month

Property Details:

4 Beds / 1.5 Baths

2,706 Home Square Feet

8,400 Square Feet Lot Size

Year Built 1905