Est ARV Est Rent Est Repairs ACQ Date Appraised Value Actual Rent Actual Repairs Value % Rent % Repairs %
$137,000 $1,295 $38,000 2/21/2023 $142,000          

1/12/23 – You’ll find the link to the walk thru photos below. The property is a 3/1.5 and located in a good location. The property is in overall good condition, but it is going to need updating throughout. We’d be looking at painting inside and out, renovating the kitchen mostly, both bathrooms, installing new flooring, servicing the HVAC, and other miscellaneous items. For a ballpark estimate, you’d be looking at 38-41k (this INCLUDES the fee). See summary below.

Roof: The roof looked to have a couple of layers, but the top layer looked newer.

Exterior: The exterior was in overall solid condition but will need some repair to the front deck. I’d also recommend painting it to give it some curb appeal for prospective renters.
Interior: The interior was really dated and if you’re looking to get top of the market rent and value, I’d recommend updating everything which would include the flooring, bathrooms, painting, and kitchen save for the cabinets. There is also a section of ceiling that is missing that we’d need to replace.

Mechanical: The mechanical equipment looked fairly new so we could opt to simply service it to ensure everything is working as it should.

Electrical: Power was on at the time of the walk thru and the property is on fuses, so I’d recommend upgrading it to breakers.
Gas: The meter was present, and the gas was on at the time of the walk thru.

Appliances: There was a refrigerator, stove, washer, dryer, dishwasher, and microwave present at the time of the walk thru.

Additional: Given that the property is vacant, we’d need to get clarity on what’s conveying with the property. As it stands, I’ve allotted to trash everything out.

Pictures: Walkthrough Inspection

Confirmed market value: $144,000 to $151,000

Confirmed market rent: Start marketing at $1,295 and reduce to $1,195 if required.

Closing Date Scheduled: 2/21/2023
Total Cash Outlay: $22,217