Recent Projects
652 Minot St, Chula Vista
October 29, 2009 by Trent Dyrsmid · Leave a Comment
This property was purchased as an REO for $180,000 on 8/13/2009. The listing price was $179,900.
Beds: 3
Baths: 1
Square Feet: 1485
The rehab budget was $38,000 with the actual cost coming in at $36,500. An offer has been accepted at $300,000 and the lender’s appraisal is in progress. It is expected that the appraisal will come in at $285-290,000
Net profit, after any adjustments for final appraisal and closing costs, is anticipated to be $37,150. (check back as this page will be updated shortly with the absolute figure)
Summary:
Purchase price/ft: $121
Rehab price/ft: $25
Sales price/ft: $202
Sales Comparables (all within a 1/2 mile radius with a close of escrow within 60 days):
- 263 J ST sold for $174,900 or $158/ft and was a bank REO that had not been rehabbed. 8 days on market.
- 638 Hilltop sold for $260,000 or $232/ft and was a fully rehabbed REO. 11 days on market.
- 119 Shasta St sold for $200,000 or $120/ft and was a bank REO that had not been rehabbed. 40 days on market.
- 741 Alpine Ave sold for $315,000 or $204/ft and was a fully rehabbed REO. 14 days on market.
- 639 Landis Ave sold for $320,000 or $189/ft and was a short sale in nice clean condition. 38 days on market.
- 669 Landis Ave sold for $340,000 or $226/ft., was not an REO or short sale, and was in “nice” condition. 32 days on market.
