This is a great cashflowing investment, with instant equity and upside potential of the area improving due to being in an opportunity zone and having just been upgraded to a Louisiana Cultural District (University Gateway Cultural District). Previous owner bought it for $35,000 and invested $20K getting it rent ready. A new roof was added, interior painted, carpet removed, hardwood floors sanded and polished among other things. It was rented to a tenant for $850 pm but when the tenant was evicted they decided to sell the property and focus on their business in New Orleans where they live. They are prepared to sell it for $38,000 to a cash buyer who is willing to close fast and pay closing costs. Check out the video walkthrough here https://youtu.be/FcKNxSJX0aE The house could be rented right away with very little work. If you wanted to restore the house to it's former glory you would want to repare facia and soffits, repaint the exterior and replace some to the siding, add back the front balcony, upgrade electrical panel. There are not many large, 2 story properties in the area so hard to find a comparable sale. Next door sold for $60,000 in April and is only 1639 sq ft This would be a great purchase for an investor who wants a high cashflow rental. It would also work really well for an investor who wants to do a bond of deed or rent to own.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
