Bank-Owned Brick Bungalow – Deep Discount, Cash Only

About this deal

Foreclosure-acquired brick bungalow listed well below assessed value. Two bedrooms, one bath, detached garage. Property has been winterized and secured. Needs full renovation: roof, mechanicals, kitchen, bath. Priced to attract cash investors who can close quickly. No seller concessions. Bank will not make repairs or provide disclosures. Ideal flip: ARV comps at $95K–$105K in surrounding blocks.

The numbers

Cap rate

6.4%

Net operating income

$14,028/yr

Cash flow

+$1,169/mo

Occupancy

3 of 4 units

Figures are provided by the seller and haven’t been verified by ListDeed. Do your own due diligence.