One of them is new to the market, the other has been there a while & ripe for an offer…!
Let’s start with the 1st one that is located at 6128-6130 Oakgreen Circle in Carmichael. It’s been on the market for a little over a year and started out as a “short sale” but wound up as a foreclosure and now offered for sale as a “bank owned” property.
Oakgreen Circle is an interesting little street of “Pride of Ownership” type of properties that have many of these Duplexes occupied by their owners. If you are a First Time Buyer, this would be an excellent property to make as your first home.
I have the estimated cash flow figures and a “walk through video below. You will notice that I have an offer price lower than the list price but the cash flow based upon a higher sales price and that is because it’s going to take about $45,000 to $50,000 to really get this property right. After that… it should be a “coupon clipper” for years to come.
Click Here for the estimated cash flow figures.
Click here for the Walk Through video and I think after you have seen it, you’ll realize it has potential. It just needs the right kind of investor looking for a long term hold.
UPDATE AS OF 12:53pm... When I wrote the information above early this morning, the property was still showing “active”… well wouldn’t you know… someone thought it was a good investment and made an offer on it… I’ll keep an eye out for it and see what the ultimate outcome is and post it here…
The other property is more of what I call an “investment” and is located at 8145-47 Desesret Avenue, Fair Oaks, Ca. I inspected this property late last week. I know this area well, because I also just closed a deal on a duplex just a few doors away on East Knoll, a cross street.
My estimate to bring this one up to a nice condition would be approximately $15,000 which would be enough to get in the interiors fixed up and have enough to allow you to put some “curb appeal” landscape improvements in.
It’s listed at just over $194,000. The most recent sale was just a tad over $190,000 with about $3,000 credit going back to the Buyer in the form of closing costs and was tenant occupied at $900 per month each side. The cash flow figures I have are based upon an assumption of a sales price of about $180,000 and approcximately $15,000 in fix up costs, which brings it close to the original list price coincidently.
Click here for the estimated Cash Flow after fix up.
Click here for the “walk through” video.
Make it a great day…!!
Ed Favinger, Broker CRS, GRI, SFR firstname.lastname@example.org 916-203-1260