Handyman Special – Great Fix & Flip Opportunity

87 Shaefer St, Akron, OH 44311

$75,000 After Repair Value -
$15,000 Asking Price -
$30,500 Cost of Repairs =
$29,500 Potential Profit

Property Details

Asking Price $15,000

After Repair Value $75,000

Costs of Repairs $30,500

Potential Profit $29,500

Living Area 1600 ft2

Property Type Unknown

Bedrooms 4

Bathrooms 2

Half Bathrooms 1

Parking 1

Listed with Agent No

EPI (Estimated Potential Income)

Potential Rental Income $12,840

Yearly Expenses $2,050

Property Taxes $984

Net Operating Income $9,816

Cap Rate 12.985

Property Description

Great handyman special/fix and flip opportunity for a cash buyer.

Won’t last long. Contact me ASAP to access the property and for further details.

This is a 4 Bed 2 Bath sitting at 1600 SF of cash flipping fun

Great handyman special/fix and flip opportunity for a cash buyer. Won’t last long.

Was a 2 Family converted to SFR. Converting back to a 2 Family will be relatively easy at a cost of 12k -13k. GREAT ROI for a rehabber considering sale price is $15,000 and comps are $75000 k PLUS! NEW ROOF 4.5 yrs. Old!!! Contact me!!

Contact me ASAP to access the property and for further details

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Repairs Needed

The walkway has cracking & settlement present. Repairs/replacement recommended.\r\n-The rear balcony door has no balcony. Installation recommended for safety considerations.\r\n-The water service entry is lead. This should be considered a major safety hazard. Further review from a licensed plumber is recommended.\r\n-A large portion of the distribution plumbing is missing throughout the house. Further review from a licensed plumber is recommended.\r\n-The holes/damage at the interior and bedroom walls/ceiling should be considered a costly defect. Repairs recommended by a qualified contractor.\r\n-The windows throughout the structure were broken/damaged/boarded. Replacements are recommended throughout being a costly repair.\r\nItems Needing Further Review\r\n-The gas meter is missing. Further review from a qualified plumber is recommended.\r\n-The water heat is not installed/missing. Further review from a licensed plumber is recommended for installation.\r\n-A mold like growth is present at the basement. Further review from a qualified specialist is recommended.\r\n-Furnace was in poor condition, recommend servicing by technician.\r\n-The upper kitchen sink is missing a faucet and plumbing. Replacement recommended by a qualified plumber.\r\n-The lower kitchen sink is missing proper plumbing. Replacement recommended by a qualified plumber.\r\n-The lower kitchen cabinets are missing several doors and are in overall poor condition. Replacement repairs recommended by a qualified contractor.\r\n-Both bathroom sinks are missing proper functional plumbing. Further review from a qualified plumber is recommended although existing plumbing looks like it will need to be abated and replaced along with HVAC AND ELECTRICAL COMPONENTS {electrical and HVAC pathways}\r\n\r\nThe water service entry is lead. This should be considered a major safety hazard. Further review from a licensed plumber is recommended.\r\n-A large portion of the distribution plumbing is missing throughout the house. Further review from a licensed plumber is recommended.\r\n-The water was shut off to the house preventing a thorough inspection of the plumbing.\r\n\r\nSafety Hazards/ Safety Related Upgrades\r\n-The rear entrance is missing steps and a landing. Installation recommended for safety considerations. -The patio pavers have settled creating trip hazards. Repairs recommended.\r\n-The rear balcony door has no balcony. Installation recommended for safety considerations. -Recommend upgrading all exterior outlets to GFCI for enhanced electrical safety.\r\n-At least two of the main exterior entrance doors were missing or damaged. Replacement recommended for safety considerations.\r\n-The electrical panel is missing a panel cover. Replacement recommended.\r\n-A GFCI is recommended at every countertop receptacle. Replacement recommended for safety considerations.\r\nItems Needing Repair\r\n-The walkway is pitched towards the home. This is a invitation for moisture at the foundation. Repairs can be made through a process called slab jacking.\r\n\r\nINTERIOR PLUMBING NOTE:\r\n\r\nThe water service entry is lead. This should be considered a major safety hazard. Further review from a licensed plumber is recommended.\r\n-A large portion of the distribution plumbing is missing throughout the house. Further review from a licensed plumber is recommended.\r\n-The water was shut off to the house preventing a thorough inspection of the plumbing.\r\n\r\n-There was a missing downspout, recommend replacement.\r\n-The house has asbestos siding. As long as the siding is entirely painted it poses low threat of harm. Any damaged or missing sections should be painted or replaced to remain completely sealed.\r\nTree branches growing over the roof should be cut back to prevent premature wear and damage.\r\n-The chimney had missing mortar, recommend tuck pointing repairs to prevent settlement.\r\n-The gutters have debris present. Recommend cleaning.\r\n-The wood soffit has flaking paint present. Scraping and painting the affected sections is recommended. -The fascia has flaking paint, recommend scraping/repainting to prevent moisture intrusion into the wood. -Some windows had flaking paint trim, recommend scraping/repainting.\r\n\r\nThe gas meter is missing. Further review from a qualified plumber is recommended.\r\n\r\nThe water heat is not installed/missing. Further review from a licensed plumber is recommended for installation.\r\n\r\nThere was efflorescence observed on some areas of the foundation walls, which is a sign of moisture intrusion through the walls. Recommend monitoring as it did not appear to be a major concern.\r\n-A mold like growth is present at the basement. Further review from a qualified specialist is recommended.\r\n\r\nThe water heat is not installed/missing. Further review from a licensed plumber is recommended for installation.\r\n\r\nThe furnace could not be tested at the time of the inspection. -Furnace was in poor condition, recommend servicing by technician.\r\n\r\nOpen main electrical panel\r\n-The electrical was shut off to the house preventing a thorough inspection.\r\n-The electrical panel is missing a panel cover. Replacement recommended.\r\n\r\nThe upper kitchen sink is missing a faucet and plumbing. Replacement recommended by a qualified plumber.\r\n\r\n\r\n\r\nCharacteristics:\r\n- Duplex, 4 Beds and 2 Baths\r\n- 98% on Fix & Flip Profit Potential Return of Investment!\r\n\r\nPlease find the contractor who conducted the initial walk-through below: {Feel FREE to reach out to confirm your numbers and due diligence}\r\n\r\nThe Home Detective\r\n154 E Aurora Rd\r\n#212\r\nNorthfield, OH 44067 2166329020 Homedetectiveohio@gmail.com\r\nReport Number:\r\n08232021-01\r\nInspector:\r\nJohn Farmiloe\r\nLicense/Certification #:\r\nOHI.2021004704\r\n\r\nPLEASE NOTE: VERY LITTLE TO NO FLEXIBILITY ON MY ASKING PRICE.

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