5712 Victoria Avenue - Asking $657K
- Homeowner/Investor/Developer Opportunity; 4 bedroom 2 bath home in need of TLC; bring your vision and your contractor to see endless possibilities with the home on a large lot (7,004 sq ft); long driveway sufficient to accommodate two cars and an RV; enormous stand up attic space that can provide 2nd floor living space with renovation; seller is open to renovation loan financing; wood flooring under carpeting; basement; coved ceilings in living room; 3/4 bath upgraded; large all original kitchen; fireplace; original doors and windows
This is definitely a diamond in the rough. You can’t tell but there is a massive space upstairs that can be your new master suite of rooms. This leaves 3 nice size bedrooms and a large kitchen and laundry area for your open concept living. The huge lot and detached garage provide many options for additional indoor & outdoor living space.
A Perfect Home for a Family with great upside equity potential in a wonderful family neighborhood. A Perfect Home for an Investor looking for a HOLD + RENTAL INCOME OPPORTUNITY in a wonderful family neighborhood One Block from the NEW CRENSHAW CORRIDOR RAIL LINE. A Perfect Home for an Investor looking for a FLIP OPPORTUNITY.
FLIP OPPORTUNITY COMPS & ANALYSIS
The average is $556/SF or $1.040M
|Est. ARV (@ $500 Per SF)*||$ 935,500|
|85% LTV||$ 795,175|
|Est. Interior rehab (@$65/SF)||$ 121,615|
|Est. Add *0 SF (@$225/SF)||$ –|
|Est. Exterior Rehab||$ 10,000|
|Est. Holding Costs||$ 40,000|
|Est. Closing (Comm @ 5%)||$ 51,000|
|Est. Maximum Offer||$ 572,560|
|1/2 mile radius, sold within 3 mos|
|Source||Zoned: LAR1||Zoned: LAR1||Zoned: LAR2||Zoned: LAR1|
|sold price to list price||-||98.5%||100.1%||108.4%|
|days to accepted offer||100||128||43|
|lot square footage||7005||7007||5716||7199|
|remodeled?||major fixer/cash only||remodeled||remocdeled||remodeled|
|Heat||floor furnace||central||natural gas; wall||central|
|Sale Date Adjustment||$1,391,780||$858,500||$1,313,000|
|bldg square footage variance/sq. ft.||-390||459||-181|
|bldg square footage variance @ $75/SF||-$29,250||$34,425||-$13,575|
|lot square footage variance/sq. ft.||-2||1,291||-1,483|
|lot square footage variance @ $20/SF||-$40||$25,820||-$29,660|
|adjusted price @||$1,262,490||$868,745||$1,244,765|
|Avg Price Per SF of Updated/Renovated Homes||$556|
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What are Opportunity Zone funds?
Opportunity Zone Funds are investment vehicles created for investors to take advantage of the recent tax code changes. The changes allow for a reduction in capital gains tax through investments in qualified “Opportunity Zones”.