Two story 4 BR 2 Full Bath home with hardwood floors, fireplace and old world charm. Approx 1800 sInq ft, upgraded 200 amp electric service, 2 car garage with side street entrance, fenced back yard. Newly restored wood floors. Stainless steel refrigerator, washer and dryer included. Electrical and plumbing updated. Nice house in quiet neighborhood. Owner moving and must sell. The wave of new construction and renovation is moving south from the James River. This house is right at the edge of this wave, you can see nicely renovated or new homes on the next block. Recent sales of similar homes very close by: 2005 Edwards Ave - sold for $140k in Dec 2015 - Very nicely renovated house of similar size and style on same block as 2000 Dinwiddie (directly behind). 1805 Fairfax Ave - sold for $134k in Aug 2016 - Another very nicely renovated house, same style 2 blocks away. For Owner/Occupant: You could move in and slowly make upgrades over time. Take out the wall between the living room and foyer near stairs for a grand entrance. Higher ceilings (8'9") and fireplace will greet your visitors. Enjoy the master bedroom with attached bath. Modernize the kitchen over time. Watch as the neighborhood houses are renovated, resold and re-priced. For Investor: Could rent out house as-is or make some changes to maximize rental price. Collect rent for a few years, then flip with or without renovation. SAMPLE BUDGET: (not an offer, for information purposes only) $86,000 Sale Price $15,000 Down Payment $71,000 Loan Balance at 9% for 10 years $899 /month principle and interest $100 /month taxes $ 55 /month insurance ------------------------------------------------- $1055 / month TOTAL PITI (principle, interest, taxes, insurance) ******* All terms can be adjusted -- down payment amount, loan term, etc. ******** We would probably list this house to rent at $1,045 (4 bedrooms and 2 full baths are at a premium). For a similar monthly payment of $1,055 (see above example) you can own this home. After 4 years of RENTING you might only have a stack of receipts and a rent increase. After 4 years of OWNING you would have paid off almost 30% of the mortgage. And, of course, after 10 years you would own the house completely. House will be ready for viewing next week. If this house interests you, please feel free to drive by to check out the street, neighborhood, comps, etc. Email reply is best way to contact seller.
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