Additional Details

• Features: Section 8 opportunity in Tallahassee! This 2 bedroom, 1.5 bathroom townhouse is currently rented for $770/mo until April 2023 under Section 8, and has a new AC unit already installed. Property is steps form the local high school, minutes from the capitol, universities, and other commercial areas. Get this RARE cash flowing affordable housing deal before it's gone!
• Ideal Investment Strategy: Rental/Resale
• Potential ARV: $115,000-$135,000
• Estimated Rehab: $5,000-$15,000
• Rehab Description: To maximize value as a Section 8 rental, remove debris and finish trash out. Deep clean and apply fresh paint throughout. Clean or replace carpets. Pressure wash, paint and landscape exterior to increase value. HVAC is new and plumbing/electrical appear to be in good working order. For a fix and flip, consider a cosmetic update to kitchen, bathrooms and flooring.
• Construction: Frame
• Comp 1: 2849 Botany Pl, Tallahassee, FL 32301 (3/3, 1224 sqft.) Sold for $142K on 9/9/22 (1996 build, Dated rental condition, Only sale on street in over 1 year)
• Comp 2: 1829 Nicklaus Dr. Apt B, Tallahassee, FL 32301 (2/2.5, 1238 sqft.) Sold for $141K on 12/2/22 (1987 build, Basic rental condition)
• Comp 3: 1998 Nicklaus Dr., Tallahassee, FL 32301 (2/2.5, 973 sqft.) Sold for $139K on 12/5/22 (1986 build, Dated rental condition)
• Comp 4: 1728 Beechwood Cir N, Tallahassee, FL 32301 (2/2, 1172 sqft.) Pending for $185K on 12/16/22 (1983 build, Remodeled nearby townhouse)
• Hard Money: Pre-Approved by OPS Loans for up to 60% LTV – See OPS Loans Tab