We bought this rental for $130,000 from the MLS a couple of months ago. It was on the market for over a year but was priced quite a bit more than we got it for. The property needed some work but was not in too bad of shape. The biggest issue was the roof that needed partially rebuilt so that it would drain properly. We painted the exterior and interior, replaced ceiling tiles, removed the flooring, and took out some counters that were pretty rough. We have left it without flooring in case the new tenants want to make changes to the floor plan. I plan to get some flooring we have and leave it at the space so that potential tenants can see what it would look like.
I think we can rent this for $1,500 or more which would make it worth more than $200,000. Another rental we have we leased for $1,500 a month and it appraised for $250,000.
You can see the before video here:
All of our rentals are listed here:
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