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Arlington, Washington 98223

Perfect rental property two homes on the same lot. One home is a 3bed 1bath and the other is a 2bed 1bath. The smaller home already has a tenant in place. The larger home needs repairs. Great for a Cash Flow property because it will be two sources of income from one lot. If looking to Fix n Flip the property it will offer a large equity spread after the repairs. Back House# 1: Private entrance,2bed 1bath, tenant in place. Front house: Vacant, 3bed 1bath, needs repairs. (35k in repairs) REPAIRS: $35,000 • exterior paint • interior paint • drywall repair • bathroom • kitchen • flooring • more.. Lock box code can be provided for further analysis. COMPS AND FULL ANALYSIS: PROPERTY ANALYSIS ACQUISITION PRICE: THE TAX ASSESSED VALUE $123,000 AFTER REPAIR VALUE: $230,000 EXIT PLAN (LOWEST ESTIMATE): 1) FIX & FLIP IT 2) FIX & RENT IT/ LEASE TO OWN $2,223 in total rents. Renter currently in 2b 1bath home in the back and has been there for 28 years. Will move if you want him moved but he is not paying the average rent which is $875 (rentometer) and the 3b 1b can be fixed and rented for $1,348.

Property Info

Beds 5
Baths 2
Sqft (Living) 2318 sq ft.
Sqft (Lot) 38000 sq ft.
Year Built 1905
Deal Type Wholesale
Property Type Single Family
ARV $230,000
Estimated Rent 2223
Building Block Construction

Location

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