OFF MARKET
Possibly the perfect situation for an owner-occupant, this property boasts two homes on one large lot. Both homes are on the same deed. Many recent renovations(the apartment pictured here is an interior renovation).
The roof on the front house was rehabbed in 2010, the back roof was rehabbed in 2010.
The front clapboard was scraped, primed, repaired, and painted in 2011.
The rear siding is new as of 2011.
The gutters were redone in 2010.
The chimney was rebuilt in 2011.
Most of both porches(rails, columns, etc.) were rebuilt in the last year.
So pretty much- everything is new or near to it!
Basically- I could have bought another house for the money I put into it within a year.
But enough writing- let's see some pictures. Here's the front house:
And here's the back house:
The address is 55 Mineral Springs Road:
View Larger Map
What makes this so special? As an owner, you can occupy the rear house, which is a four bedroom single family home. It has roughly 1400 square feet of living space on two floors, and a very large basement with high ceilings that is dry and unfinished. You can also use the single parking spot for yourself.
The front house has two units, both three bedrooms and large, and both currently rented.
At present, the rear 4 bedroom house is rented at $700- and total gross rent will be $1710/month.
All of the utilities are separated. The front lower apartment is listed for $650(and looks like it will be rented this week) and and the front upper is rented at $460, but the $460 tenant has not had a rent increase since I was in high school! Hint- that's a very long time, and his rent is 30% under market. In fairness, his unit needs a bit of work. Pictured below is the one listed for $650.
The electric was redone roughly four years ago, and is completely up to code.
ALL of the furnaces have been replaced within the last 5 years.
MOST of the windows have been replaced, and are double paned.
What might this beauty of a house cost? Almost there. Let's not forget- the front house has a full basement for storage as well, and a truly MASSIVE attic that is presently used for storage, but could very easily be integrated into the upper unit for an extra living room, play room, and office, making the upstairs unit much more valuable.
The above shows a water efficient showerhead, recently installed.
Below, hardwood floors that were recently rescued from evil carpeting.
Even though I have put time, effort, and love into this house, it may be time to say goodbye.
For the price of $99,999, this house can be yours. That's about $28/square foot.
If you'd like to see the house, please leave your name, number, and email address in the comment section at the end of this blog. All comments are private, and will only be seen by the owner of the blog.
Thanks for looking!
To see a 10-unit rehab I recently completed, have a look below:
http://directlend.blogspot.com/p/finance-or-purchase-your-choice-this.html
To see a two unit in a suburb of Albany(North Troy), click here:
http://directlend.blogspot.com/p/economical-north-troy-2-family-house.html
And to see my favorite two-family on the Hudson:
http://directlend.blogspot.com/2010/12/fully-rehabilitated-two-family-house-on.html
Possibly the perfect situation for an owner-occupant, this property boasts two homes on one large lot. Both homes are on the same deed. Many recent renovations(the apartment pictured here is an interior renovation).
The roof on the front house was rehabbed in 2010, the back roof was rehabbed in 2010.
The front clapboard was scraped, primed, repaired, and painted in 2011.
The rear siding is new as of 2011.
The gutters were redone in 2010.
The chimney was rebuilt in 2011.
Most of both porches(rails, columns, etc.) were rebuilt in the last year.
So pretty much- everything is new or near to it!
Basically- I could have bought another house for the money I put into it within a year.
But enough writing- let's see some pictures. Here's the front house:
The address is 55 Mineral Springs Road:
View Larger Map
What makes this so special? As an owner, you can occupy the rear house, which is a four bedroom single family home. It has roughly 1400 square feet of living space on two floors, and a very large basement with high ceilings that is dry and unfinished. You can also use the single parking spot for yourself.
The front house has two units, both three bedrooms and large, and both currently rented.
At present, the rear 4 bedroom house is rented at $700- and total gross rent will be $1710/month.
All of the utilities are separated. The front lower apartment is listed for $650(and looks like it will be rented this week) and and the front upper is rented at $460, but the $460 tenant has not had a rent increase since I was in high school! Hint- that's a very long time, and his rent is 30% under market. In fairness, his unit needs a bit of work. Pictured below is the one listed for $650.
The electric was redone roughly four years ago, and is completely up to code.
ALL of the furnaces have been replaced within the last 5 years.
MOST of the windows have been replaced, and are double paned.
What might this beauty of a house cost? Almost there. Let's not forget- the front house has a full basement for storage as well, and a truly MASSIVE attic that is presently used for storage, but could very easily be integrated into the upper unit for an extra living room, play room, and office, making the upstairs unit much more valuable.
The above shows a water efficient showerhead, recently installed.
Below, hardwood floors that were recently rescued from evil carpeting.
Even though I have put time, effort, and love into this house, it may be time to say goodbye.
For the price of $99,999, this house can be yours. That's about $28/square foot.
If you'd like to see the house, please leave your name, number, and email address in the comment section at the end of this blog. All comments are private, and will only be seen by the owner of the blog.
To see a 10-unit rehab I recently completed, have a look below:
http://directlend.blogspot.com/p/finance-or-purchase-your-choice-this.html
To see a two unit in a suburb of Albany(North Troy), click here:
http://directlend.blogspot.com/p/economical-north-troy-2-family-house.html
And to see my favorite two-family on the Hudson:
http://directlend.blogspot.com/2010/12/fully-rehabilitated-two-family-house-on.html
