This is the cheapest active, pending or sold in the neighborhood within the last 6 months, including REO’s and Short Sales. House is a 3/1 with just over 1,000 sf and is in relatively good shape already.
You will not need to over rehab this house at all. Only a couple of comps are nicely rehabbed but they are a different style of home. You will need an outside ac, some kitchen/appliance work, spray in bathroom, and paint.
Almost every comp sells within days, whether it is rehabbed or not. You have a ton of 3/1 comps as well. You have a pending at 1413 Camphor that is not rehabbed and sold for 145k in 7 days. You don’t have a lot of rehabbed comps, but the ones you do are selling well into the 200k’s, so our ARV estimate of 150k is definitely very conservative.
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