Huge Cash Flow on Cheap Duplex in HIghland Park for Investors or Rent Out One. ID: 11157826

« Previous Listing | New Search | Back to search results | Contact Seller | Next Listing »

Type:	Duplex/Triplex/Multi-Family
Address:	2918 Hanes Ave, Richmond, VA, 23222
Bedrooms:	4
Bathrooms:	2.0
Year Built:	1922
Sq. Footage:	1536.0
Price/Sqft:	$37.70
Property Tax:	^new! $1,098
Price:	$57,900
Sale Type:	For Sale By Owner

Check for Liens and Mortgages

View all 7 photos

Listing added: 2009-05-06

Get Mortgage

Moving

Title Search

Email a Friend

Description

Additional features: Lot size: 4880.0, Floors: 2

HUGE Cash Flow on Cheap Duplex in Highland Park!

2918 Hanes Ave
Richmond, VA 23222

Only $57,900!

/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;}

Tax Assessment $91,500

Approximate Repairs $5,000

Should Rent For $1200 to $1,300 Per Month ($600+ Per Unit)

After Repaired Value $110,000

This duplex is situated on a decent block in Highland Park with alley access. There are newly renovated houses in the area. The home is 1536 Sq Ft with two 2BR 1BA units. The downstairs unit can be used as 3 bedrooms, however there would be no living area. The features include a full front porch, slate roof, basement, modern cabinets, refinished hardwood floors and fresh paint downstairs, stucco siding, electric baseboard heat, electrical updates including partial separate utilities, and gas appliances. The upstairs repairs include paint, carpet, cosmetics, and other minor miscellaneous repairs. Could use new windows but not needed. The downstairs unit is ready to rent. This is a great deal to rent and enjoy immediate equity and cash-flow.

We had a difficult time finding recent sales of similar-sized duplexes in the immediate area.
 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;}

Sold Comps:

3502 Maryland Avenue- 1440 Sq Ft $120,000 on 05/06/08

3104 North Avenue- 1440 Sq Ft $120,000 on 08/11/08

Pending Comps:

3415 Enslow Avenue- 1848 Sq Ft $139,998 on 08/15/08

Active Comps:

2820 Hanes Avenue- 2186 Sq Ft $89,950

3110 Utah Place- 1387 Sq Ft $127,000

Contact Greg at (804) 565-9723 or email him at info@EagleHouseDeals.com

To Find Out about More Great Deals Like this One Visit EagleHouseDeals.com

To directly access this property, use this shortcut: http://www.fizber.com/11157826/