Great Rehab Deal at VCU 1248 Wallace Street Richmond, VA 23220
Only $82,900!
Tax Assessment $112,200
Approximate Repairs $20,000 or Less to Rent or $31,000 to Retail
Should Rent For $1100 Per Month to Students
After Repaired Value $160,000
This 3-bedroom, 1-bath brick house is situated in just 4 blocks from Virginia Commonwealth University. There is lots of new construction all around in this up and coming area. The home is 1322 Sq Ft and features beautiful original hardwood floors, ceramic tile bathtub, front porch, and a brick fireplace. To rent, the repairs include paint, carpet, minor structural repair, roof patch, and minor drywall and cosmetics. To retail, it would need these repairs as well as possible replacement windows, HVAC, kitchen and bathroom and electric updates, and other minor miscellaneous repairs. This is a great deal to rent and enjoy immediate equity and cash-flow. It will make for a nice easy rehab now.Either way this is a unique opportunity to buy a cheap house in a nice college area.
Comps:
1502 Wallace Street- 1372 Sq Ft$164,950 on 05/28/08
1307 Dance Street- 1434 Sq Ft $167,000 on 07/09/08
402 Bethany Drive- 1360 Sq Ft $173,000 on 5/13/08
Don’t miss this rare opportunity to get a steal of a deal near VCU!!!
