501 E Highland Ave
This house functions as a 3 bedroom 1 bathroom house. None of the bedrooms have closets. It has vinyl siding, and all but two windows appear to be in-tact. This was a very full house, both in terms of people and in stuff, thus making it difficult to fully examine the quality of the floors and walls. Two of the bedrooms are on the first floor, with the attic also serving as a bedroom. There is a basement under part of the house, accessible from a cellar door outside. The water heater and the electrical panel are in the basement. The foundation appeared to be in good condition. There is ample parking, including a driveway that holds two cars and two additional parking spots.
The house is across from Lafeyette High School.
The owner says the roof is new within the last several years. The house does not have HVAC. Rather, it has window AC units and an electrical heating unit. There is a living room, kitchen, and a room off the kitchen that could be used for washer/dryer/freezer/pantry. This house will need deep cleaning, new flooring, new paint, and likely a bathroom remodel. The functioning status of the plumbing is believed to be working.
The storage shed and children’s playhouse/shed is said to be removed from the property prior to the sale.
ARV: $80,000- $85,000
Asking: $39,000
Estimated Rehab: $19,000
Potential Rental Income: $875/mo
*Rehab descriptions are provided as a courtesy. We strive to help investors have a better understanding of possible needs and numbers. Information provided here is NOT an exhaustive scope of work nor is it a bid for contractor and labor. Please do your own due diligence as numbers/ARV are not guaranteed; they are based on our current knowledge of the property/market, experience, and a quick walk through.
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