Lakeridge-comps feet. Comparable sales range from $127,000 to $197,000 in the area with most falling in the $140,000 – 155,000 range (see attached report).
With our lease option model we should be able to sell this property around the $140,000 mark. We’re looking for an investment of $80,000 so there is plenty of equity in the deal. We project rent to be $1300-1500 per month so this property will cash-flow nicely. The house is a bit dated but mostly functional and should pass occupancy without too many issues. There is also hardwood under the green carpet. The main house has a 2 car garage and there is also a huge detached workshop/garage which is a nice feature. The lot is 1.25 acres and very private. All the features of this house (large house, large lot, extra garage) means this one should move pretty quickly in our rent to own system.
This one is scheduled to close 10/7/16 at Title Experts.
Click on this link for comps: