2804 Summit Ave, Greensboro NC 27405 $ 80,700 - Greensboro, North Carolina Date: 2 / 5 / 2019 PARTNER ...

Original publication date at the US Real Estate Forum's Facebook arena:
2019-02-06T07:06:34+0000

2804 summit Ave, Greensboro NC 27405
$ 80,700 - Greensboro, North Carolina

Date: 2 / 5 / 2019
Business Partner: Yonatan Anafi, Avertice

? 2804 Summit Ave, Greensboro NC 27405
?Country
? City
? neighborhood

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Type of transaction
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️ The type of strong, long-term transaction - preparing and renting the property for the tenant
? The property under contract? - Yes, the property is under contract
? Multi-property property? - No

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Transaction data and asset
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? Buyer Price in Dollars: 55000
? Living area in square piece: Property size in square fit 1840 sqft
️ Year of construction: 1955
? Number of units in the property (doors): 1
? Number of bedrooms: 3
? Number of services: 2
⛏ Estimating the price for renovation required in dollars: 17500
️ What renovation date should be completed: 3 / 20 / 2019 0: 00: 00
? Have you done this? Yes
? Link to the Axel Renovation Assessment if there is an assessment:
? Promoter escort fee: 7500
? Estimating closing costs and additional costs in dollars: 700
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? Total investment (purchase price + renovation price + escort fee + closing costs): 80700
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? About the area:
Positive migration of 23.37% Since the year 2000, positive migration of 7.9% between 2010-2017, the level of non-employment has dropped from 13% in 2010 to 3.2% today. The average in the United States is 3.9%. The city of Greensboro is the third most populous city in North Carolina and numbers about 1,000 people. The local economy is based on transportation, aeronautics, education and technology. In recent years, the city has attracted many investors in the residential, entertainment and business sectors. At 300, a project worth over $ 2016 million was completed for the renovation and construction of a textile factory and converting it into a residential, office and entertainment complex.

? About the property:
The property is located very close to the famous Revolucin Mill, a very active improvement area in the city of Greensboro.
Great property compared to the environment. Original construction was 2 bedrooms and 4 bathroom. After a few years, they expanded to almost twice the original size and became 3 bedrooms and one bathroom. A few years ago, he lived in a handicapped home and made an interior change (without any permits) and turned a bedroom into a bathroom. It is true that the property is set in 2 bedrooms and 3 bathrooms. Located XNUMX minutes from the new Revolushin Mill project.

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Expected annual revenues
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? Monthly rental 850
? Annual rental 10200

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Expected annual expenses
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Provision for unearned property leased: 510
? Management Company: 1020
? Maintenance: 816
️ Arnona: 990
✍️ Insurance: 300
? Community Payments: 0
? Total annual expenses: 3636

? Net pre-tax annual cash flow:
? Gross Annual Return: 12.63%
? Net Annual Return: 8.13%

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? Comparative market data
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? Estimated market value of the property after renovation: 90000
️ Percentage of total investment relative to market price: 1

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? Comparative Market Analysis - First Property:
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? Address: 1611 Longfellow St, Greensboro, NC 27405
? Living Size in Square Pitt: 1175 sqft
️ Year of construction: 1956
? Number of bedrooms: 3
? Number of services: 1.5
? Distance from property: 0.3 miles
When did it sell: 15 / 05 / 2018

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? Sales Comparative Market Analysis - Second Property:
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? Address: 2909 Orange St, Greensboro, NC 27405
? Living Size in Square Pitt: 1398 sqft
️ Year of construction: 1956
? Number of bedrooms: 3
? Number of services: 1.5
? Distance from property: 0.4 miles
When did it sell: 13 / 09 / 2018

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? Comparative Market Analysis - Third Property:
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? Address: 1402 E Cone Blvd, Greensboro, NC 27405
? Living Size in Square Pitt: 1324 sqft
️ Year of construction: 1955
? Number of bedrooms: 3
? Number of services: 1
? Distance from property: 0.4 miles
When did it sell: 04 / 12 / 2018

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