Wholesale Deal In Old Friarsgate Irmo, SC $25,000

318 Serpentine Rd, Irmo, SC 29063

$135,000 After Repair Value -
$25,000 Asking Price -
$70,000 Cost of Repairs =
$40,000 Potential Profit

Property Details

Asking Price $25,000

After Repair Value $135,000

Costs of Repairs $70,000

Potential Profit $40,000

Living Area 1606 ft2

Property Type Single Family House

Bedrooms 4

Bathrooms 2

Half Bathrooms 0

Parking 0

Listed with Agent No

Property Description

An opportunity to live on a corner lot in desirable New Friarsgate. The brick home suffered a fire in February from an electrical blanket. Sold As Is. Obviously a good clean out needs to be done first. Rugs and floors pulled up as well as insulation and trash disposed of.

This house as it says had a fire and as such about 40% of the roof structure needs to be rebuilt. The whole roof will need new shingles. About half the electrical needs to be replaced (maybe). Some for sure. Once the roof is done and windows replaced then normal rehab needs to be done. Some ceilings to be replaced as well as a few walls.
Replace all floors with carpet, tile, and wood of some sort. Fumigate and paint everything. Save kitchen. Replace countertops and put in new hardware. Replace appliances.
House is open for inspection. Use driveway door.
A good landscaping and some fence repair. Some foundation repair is needed.

This house is in New Friarsgate Subdivision in Irmo. Irmo is highly sought after and comps show
Houses sell fast.

PURCHASE: $25,000
REHAB: $70,000
ARV: $135,000 +

Comps by Kristen Brown of Exit Realty below:
318 Milway Rd. Irmo, SC sold 4/18/2018 $139,000
124 Elstow Rd. Irmo, SC sold 1/22/2018 $133,800
101 Hayburg Dr Irmo, SC sold 2/27/2018 $144,900 all these comps are close in same sub division

Repairs Needed

This house as it says had a fire and as such about 40% of the roof structure needs to be rebuilt. The whole roof will need new shingles. About half the electrical needs to be replaced (maybe). Some for sure. Once the roof is done and windows replaced then normal rehab needs to be done. Some ceilings to be replaced as well as a few walls.\r\nReplace all floors with carpet, tile, and wood of some sort. Fumigate and paint everything. Save kitchen. Replace countertops and put in new hardware. Replace appliances.\r\nHouse is open for inspection. Use driveway door. \r\nA good landscaping and some fence repair. Some foundation repair is needed.

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