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Bagley District, Detroit : Fix and Flip Properties ARV $135k

18634 Woodingham Drive, Detroit, MI, USA
$85,000

Description

Bagley District Fix and Flip Property ARV $135k.

Great looking 3 bedroom COLONIAL in the sought after BAGLEY area of Detroit. ARV $135k cosmetic upgrades needed. This property is a rental property and will need to be upgraded to a retail sale property. Will need around $10 – $12k to make it a wonderful flip sale. Great deal for a investor  selling to a retail buyer.

The Opportunity:

This property needs the cosmetic upgrades only.

Properties in this Bagley neighborhood retail for $135k to retail mortgage approved buyers. It is a hot neighborhood for flip.

Here are addresses of neighbouring properties sold in the last during the last 90 days:

17600 Pennington Drive, Detroit 48221 – $134,000– SOLD 06/28/2018
18287 Pennington Drive, Detroit 48221 – $153,000 – SOLD 08/27/2018
8549 Marygrove Drive, Detroit 48221 – $135,000 – SOLD 06/22/2018
18067 Pennington Drive, Detroit 48221 – $150,000 – SOLD 05/30/2018

The Financials:

Purchase for $85,000
Rehab for $10,000
Total Investment: $95,000

After Repair Value (ARV): $135,000

Gross Return: $40,000

ROI: 42.1%

  • Address: 18634 Woodingham Drive, Detroit, MI, USA
  • City: Detroit Metro
  • State/county: Michigan
  • Zip/Postal Code: 48221
  • Neighborhood: Bagley
  • Country: United States

Detail

Updated on December 19, 2018 at 10:03 pm

  • Price: $85,000
  • Property Size: 1210 sqft
  • Land Area: 4356 sqft
  • Bedrooms: 3
  • Bathrooms: 1
  • Year Built: 1940
  • Property Type: Fix & Flip Homes for Sale
  • Property Status: Sold

Contact info

SovInvest
SovInvest
(313) 915 4673(313) 915 4673

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