Dayton, OH

The house is a 2 bed, 2 bath bungalow. Built in 1922, has 794 sq feet plus full basement . There is also a detached 3 car garage that, if holding as a rental, would bring in added income alone. There is a neighbor (car mechanic) who has expressed interest in renting just the garage for $200-$300/mo! As a fix and flip, most 2 bedroom homes in Belmont have only 1 car det garages, so an added bonus! There's also a parking pad to the side of the garage. I wasn't able to observe due to all the leaves!

Inside, the house could be wonderful, but it certainly needs a full renovation! There was a fire a couple of years ago. The current owner bought it AFTER the fire and intended to renovate it himself, however, due to a busy schedule and some medical issues, he's passing the opportunity!

The home will need a new roof, some truss support, soffit work, gutters and downs, new mechanical systems, new dry wall and cosmetics. The enclosed front porch could be utilized as additional living space (extra 176 sq ft). The floors and floor joists seem very sound. The foundation will need masonry work.

Asking price is $48,900
Renovation will cost $60k-$75k, depending on scope of work and exit
ARV is around $165k-$170k - see comps below
Target rent, as a buy and hold, is $1200-$1400. This is in addition to the $200-$300 garage rental!

Great investment opportunity whether you fix to flip OR fix to hold! Desirable Belmont location - cash transaction. No Seller Financing. Title work was done with current owner at Safemark Title. Seller would prefer to use Safemark, but not required.