NICE WHOLESALE DEAL IN HARVEY IL. Only 16k, After repair value 50,000.Great property for buy and hold investors. 16,000 cash! Nice Single Family home on a Double Lot. 3 beds 1 bath.Needs rehab estimate 15,000 rehab to make rentable. Needs paint, flooring, update kitchen, update bathrooms.Property can be rented for 1000 per month, 1200 per month section 8The numbers:Fix and flip :Purchase price 16,000Closing costs $1,000Fix up $13,000Holding costs $2640Realtor fees 2,700 (6 percent)Resale Price $50,000Net Profit $14,660Buy and HoldPurchase 16,000Closing costs $ 1000Fix up $7,000Rent $1,200 per monthNet Operating Income $7.920Cash on cash return 33 percentRepairsPaint $2,000Flooring $2,000Kitchen $5,000Bathroom $3,000Doors, light fixtures, $1,000Landscaping $1,000Total rehab $13,000Zestimate 57,000.Comparables:15616 Emerald Ave, Harvey, IL 60426 sold 04/11/2013 $50,00015741 Finch Ave, Harvey, IL 60426 sold 01/28/2013 for $43,00014600 Lexington Ave, Harvey, IL 60426 sold 01/11/2013 $42,000Estimate After Repair Value $ 45,000Earnest money required 2,000.Proof of funds required for viewing.Please due your own due diligence.Do you know someone that would buy this deal please forward this email we do compensate for referrals!
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