Collingswood Dr, Concord, NC Available

DO NOT DISTURB THE TENANT. SHOWINGS ONLY WITH MISSION HOME BUYERS.

Information and Comps

This single family home is located just 3 miles from Downtown Concord and within 2 miles of Atrium Health Hospital and Carolina Mall.

Concord has been ranked as being one of the best towns to live in across the country and is one of the fastest growing.

This property is currently occupied but will be vacated at closing.

 

This property is 1,344 sqft and was built in 1970. It’s in good condition and just needs a touch of paint and to replace the floors. Some buyers may want to convert the 2 bedroom, 1.5 bathroom house into a 3/2 by enclosing a master bedroom in the oversized living room. The walls are very solid and have no damage, the foundation is extremely solid as well.

We would recommend painting, replacing the flooring throughout, removing the ramp out front and as an option, making it a true 3/2 to increase the rent and ARV. There is a kitchen floor is slightly off level so we’d recommend leveling it out. The HVAC and roof are newer. It has updated vinyl windows, a 200 amp breaker, and appears to have PVC plumbing throughout.

Nearby homes are selling for $170,000-$250,000 within a mile of the property. The house on 3066 Walter Dr sold over asking with multiple bidders for $250,000. The middle comp (1038 Stirrup Pl) sold for $187,000 with 3 days on market and wasn’t even renovated. The property on Walter Dr that sold for $171,250 was in as-is condition last month.

 

The property is 1,344 sq. ft., has very large rooms and a lot of character. You could easily make it a 3/2 by converting the large half bath/laundry room into a full bathroom and putting up a wall for a master bedroom on the left side of the house.

Click here to see the photos of the property

Click here to see the Bigger Pockets Flip Analysis

Comps:

3066 Walter Dr, Concord, NC – $250,000; 3/2 at 1529 sq ft. Multiple offers and bidding – sold above list price.

2835 Walter Dr NW, Concord, NC – $171,250; 3/2 at 1359 sq ft in as-is condition

1168 Belmont Court, Concord, NC – $210,000 1 DOM; 3/2 at 1512 sq ft in 1990s condition

1038 Stirrup Pl, Concord, NC – $187,000 3 DOM; 3/2 at 1200 sq ft in good condition but not remodeled

 

Financial/Closing/Rental Information

Starting Price:  $119,000+
BUY IT NOW PRICE: $129,000
Rehab Estimate:  $12,100 (Includes $2,000 of Misc. Expenses)
ARV:  $195,000
ROI: 27.91% Immediate (Flip Analysis)
Requirements: Funding secured, Deposit, & Close in 10 days through Southern Law Group

Closing Date:  On or before January 18th, 2019

Closing Attorney:  Southern Law Group

Non-Refundable Deposit: $4,000 sent to Southern Law Group. Refundable only if seller can’t perform within 45 days of closing date

Address:
Terms:
Assignment of Contract
Property Type:
Apartment

Call (980) 533-4950 for more details