ATTENTION Investors! This is a Rehabbers delight with Hardwood floors, high ceilings, arched doorways and Small town Living! Large 4 bedroom home with tons of potential. Nice big rooms. With some TLC this home could be a GREAT family home or investment property.Spacious Victorian built in 1910 with loads of old house charm and character. Has original hardwood floors and ornate trim. This property in downtown Greenfield features a master bedroom on the main level, 2 bedrooms on the upper level, 2 baths, a formal dining room, a living room with fireplace, a full (very dry) basement, and a covered front porch. Plus a detached 1 car garage with workshop and loft for tons of storage. Minutes away from US 40, State Road 9 and I-70 for easy access to Indianapolis. Being sold in as is condition. Rents/Cash Flows: * HotPads Shows a number in the area that range between $1,100 to $1,295* RentOMeter.com shows 20 4 bedroom rentals within a 4 mile radius with an average rent of $1,047 and median of $1,138. * Zillow shows 4 bedroom Rentals from $1,100 to $1,225 in the area. * 2012 Net Assessed Tax Value shows $89,800. * Current records show an annual assessed tax of $779. Rental Analysis: Using a blended rate of $1,150/mo. from these source's with the Industry standard Fannie Mae formula of Rents times 75% (or using a 25% expense ratio to cover vacancy, rates, maintenance, replacement, reserves, property mgt. and other expenses) then subtracting out PITI ) Principle, Interest, Taxes and Insurances) based on a 30 yr. fixed rate at 5.5% this yields a possible projected cash flow would be about $261/mo. Today's market conditions ARV's often difficult to interpret and are highly subjective. Using InvestWay comparables there are solds with an average of $121,065, median prices of $131,500 and Highs of $193,650 leading to a very conservative estimated value of $115,400 depending on the rehab finish. If approaching the property purely has a rental we would recommend a more conservative rehab for strong rentals of $1,100+ and a estimated property value of $90,000. This Information Deemed Reliable But Not Guaranteed. DO YOUR OWN DUE DILIGENCE BEFORE you make ANY offer.ATTENTION: This is a Wholesale Deal that uses an Assignment of Contract rights to EndBuyer.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
