1500 Thriftwood Dr, Charlotte, NC 28208

Sturdy, 3 bedroom, brick ranch home, in safe area with excellent access to major highways. The house needs roughly $10,000 in repairs to make it rent ready for top dollar. Repairs needed include: some rotten fascia board needs replacing, sand & paint exterior doors and fascia board, replace windows with new vinyl (section 8 standard), paint entire interior walls & trim, sand & refinish hardwoods, renovate bath, half bath, and kitchen, including putting in new cabinets, countertops in kitchen, and tile flooring in kitchen and baths. Let us know if you need inexpensive contractors for this project. Financials: The house should rent for around $800 upon completion of work. ($9600/year) Taxes=$877, Insurance=$250, Vacancy allowance=$950, Annual Maintenance =$900 (total expenses=$2977), NOI=$6623 (net operating income) Purchase Price plus rehab=$44,500 ROI=14.9% (return on investment after all operating expenses paid--this is net per year)