Available now – $130,000 handyman special in southeast Colorado Springs. Home needs around 30 – 40k worth of work. Needs new roof, basement finished and 4th bedroom added to reach 190k ARV.
Property currently has a $121,400 reverse mortgage payoff amount, but may come down significantly in price after an appraisal has been done, because the new payoff amount will be 95% of the appraisal.
Numbers are a bit tight at $130k but work well around $118k, so if the price drops it will be a good flip.
May also be a good buy & hold, rent estimate is roughly $1,250 – $1,375 per month
- 4595 London Ln
- Colorado Springs
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- For Sale
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