Call Jon at 407.9546 or Blake at 921.5934 for more details
Excellent Deal from historical perspective- Priced to sell 'yesterday' - Pre 2000 value
7887 W Mojave Dr, Boise, ID
Year Assessed Value Sold on MLS
2010 $ 107,300
2007 $ 158,300
2004 $ 99,000 $ 115,000
2000 $ 85,300
Your price: $72,450. That's pre 2000 nominal values, and if you were to adjust for inflation it would be even cheaper. Why so cheap? We bought this house at an auction and need to free up our cash to use on some other projects we have going on, and so we're looking to sell it as quickly as we can, even though it's a steal at this price.
Inexpensive, Turn-key Investment
Cosmetic fixes only. The house is in good condition. It just needs carpet, paint and some landscaping to be rent ready.
Easy to rent - $850/month - 9.82% Cap Rate after expenses
On Mojave Dr just west of Cole and Indian Lakes Golf Club. It's a great size and price range for a rental.
Click Here For Rent Comps.
The data show the rent range to be $850-$900/mo. We'll stay at $850 to get it rented fast (and with new paint and carpet you can bet it will rent fast).
$300/mo Cash Cow from day 1:
Assuming a 30 year fixed 5.25% non-owner occupied loan (I'm closing on that exact loan right now for a triplex in Nampa), with a 25% down payment, you will cashflow $300/month after setting aside $60/month in planned maintenance and repairs.
House Specifics:
1024 sqft
3 bed 1.75 bath (one full bath and another with a shower but no tub)
2 car garage
.15 acre lot (77x87 or 6700sqft)
Built in 1988
Cheaper than you can buy off the MLS
This house was listed on the MLS at $99,900. You can't buy a house like this off the MLS for 72 cents on the dollar. At this price the house is just $70.75/sqft. In a 0.6 miles radius search around the house for any other sold comp that is a 3 bed 2 bath under 1500 sqft, the cheapest sold price per foot on the MLS sold for $71.79 on May 4th, 2009. A house that sold for $85,000 that was 1184sqft. That is also the cheapest overall sold price. Even houses selling in 2001, way before the bubble were selling for $82-$86/foot on the low end.
No back neighbors
The house backs up to Silver Sage Elementary for a nice un obstructed view and pleasant location and environment.
Repair Estimates
We are getting bids from our sub-contractors now, but total repairs will be under $5000 to get it rent ready. Here are our initial estimates:
$1,750.00: Flooring- All new carpet and pad, plus vinyl throughout the house, installed
$1,300: Paint- Full two tone interior paint including ceilings
$1,250: Landscaping- sod in front seed in back
$500: Other miscellaneous/handyman work
$4,800: Total
Call Today and put your money to work for you!
Jon: 407.9546
Blake: 921.5934
7887 W Mojave Dr., Boise, ID
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