We now officially have The Sunglasses House under contract, and I wanted to share some details (including pictures) of the property.
Here’s the quick rundown:
- Purchase Price: $33,000
- Year Built: 1991
- House Type: Split Level, 3/2 with Basement Room, 2-Car Garage
- Rehab Scope: This is likely to be our biggest rehab to date. Pretty much every interior and exterior surface must be repaired/replaced. A couple notable things about the rehab: All plumbing must be replaced; all mechanical systems need to be replaced; we need a new roof, new gutters, and major repair to the exterior wood, siding, trim, soffits, and fascia board; we need an all new kitchen; the laundry room must be ripped down to the studs to remediate the mold; the master bath needs a new design/layout; the fireplace needs a total reconstruction; the front and back decks need major repair; and it’s going to take a lot of drywall and paint to cover up the interior damage.
- Rehab Costs: Likely to be between $47-55K
- Pictures: Here You Go! These are the inspection pictures, so they’re not great, but should give you an idea of what we’re up against on this one.
We spent a couple days last week doing inspections, putting together the Scope of Work, getting contractors to the house, etc. We hope to have all the bids back by the end of this week, and hopefully we’ll be able to hit our budget of $50K. That said, the original estimate I came up with was $58K, so we need to do a little negotiating and may have to cut some things out of the project.
I’ll have more to say about this project after we have our bids and are certain what we will (and won’t) be doing.