THIS IS YOUR CHANCE FOLKS. Live right across the street from me and a stone's throw from all the fun in Detroit, Ferndale, and beyond! Only $800 a month plus utilities for 2 bedrooms.
So a house across the street has undergone a complete rehab. Someone bought it for $19,000 in June, and in the last 4 months they've gutted it, redid the exterior, the interior, built a deck, porch, and poured a new driveway...twice.
It's been kinda interesting to watch the thing come together. I've been snapping pics along the way because I'm weird like that.
It's on the market now for a ridiculous amount of money considering the size of the house, the neighbhorhood, and all other possible logic, but hey! Maybe someone wants to come in with a lowball and score themselves what amounts to practically new construction. Walking distance from my front porch, B. Nektar Meadery, and (if you're a really keen walker) Chazzano Coffee.
But they did an awesome job. Love the subway tile in the bathroom. But for that cost, they could have at least finished the basement - could have even added another bedroom down there or something.
Yeah, it's kind of crazy. I'm no expert, but even if the company who bought it was the general contractor and able to manage all the jobs themselves, I can't imagine that rehab cost any less than $30k. So it's still a nice profit if they can sell it for around $80k, I just don't know how realistic anything more than that will be anytime in the next year. But who knows, maybe they're playing the long game.
When it does sell though, it'll help my property values at least.
Damn, a house for the cost of a car. A bit more money for some rehab work than a profit of $30K+...definitely worth looking into if not just for the investment
Wait....850 square feet? That's the same square footage as my 1-bedroom condo...
To be fair, that wouldn't include the basement (if there is one, can't really tell). EDIT: Based on the Zillow pictures, I'd say it definitely has a basement... so up that square footage another 425 most likely as those numbers never include basement space.
I really wish the house flipper that I bought my place from had done that nice of a job
Wait....850 square feet? That's the same square footage as my 1-bedroom condo...
To be fair, that wouldn't include the basement (if there is one, can't really tell). EDIT: Based on the Zillow pictures, I'd say it definitely has a basement... so up that square footage another 425 most likely as those numbers never include basement space.
Except the basement is unfinished... so I wouldn't include that square footage unless it was finished space that you could use, instead of just storage space.
@RyanMM said:
Dat suburban property value premium tho
Dem stainless steel kitchen appliances doe.... but seriously, that kitchen layout is screwy. (Can anyone tell what the first consideration I have when house shopping is?)
@ardichoke said:
Dem stainless steel kitchen appliances doe.... but seriously, that kitchen layout is screwy. (Can anyone tell what the first consideration I have when house shopping is?)
Comments
http://detroit.craigslist.org/okl/apa/3660408239.html
http://www.realtor.com/realestateandhomes-detail/1421-Spencer-St_Ferndale_MI_48220_M46620-29950
Clearly there's another way up anyways.
It's been kinda interesting to watch the thing come together. I've been snapping pics along the way because I'm weird like that.
It's on the market now for a ridiculous amount of money considering the size of the house, the neighbhorhood, and all other possible logic, but hey! Maybe someone wants to come in with a lowball and score themselves what amounts to practically new construction. Walking distance from my front porch, B. Nektar Meadery, and (if you're a really keen walker) Chazzano Coffee.
When it does sell though, it'll help my property values at least.
With interest rates being what they are, you can't rent a house that cheap.
I really wish the house flipper that I bought my place from had done that nice of a job
Do 6 other people wanna go in on this? Looks pretty rad.
http://detroit.curbed.com/archives/2014/08/heres-a-seven-bedroom-colonial-asking-300k.php
That's pretty awesome. I could into fancy house life.
If Ivy Tech had a Detroit campus and I had that money stuff I hear so much about but never seem to have. I'd jump on it. #Escape_velocity_impossible
If only my employer was out that way...
Who wants to move in across the street from us? Come on, someone's gotta want to be my neighbor! http://www.zillow.com/homedetails/1391-Spencer-St-Ferndale-MI-48220/24676785_zpid/
Ask is higher than ICHQ got appraised for.
Dat suburban property value premium tho
Dem stainless steel kitchen appliances doe.... but seriously, that kitchen layout is screwy. (Can anyone tell what the first consideration I have when house shopping is?)
The garage?