2219 Edenton RD. Renovation Project??, Any opions on ARV for a 100% renovation. Recent comps are 2 story, not many ranch style.

Asked by figueroa_53, Charlotte, NC Tue Jun 12, 2012

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John Siddons & Mike Laine’s answer
John Siddons…, Agent, Charlotte, NC
Tue Jun 12, 2012
Not a good renovation/flip project - backs directly up to Fairview Rd., a major road. E-mail me directly and I can help you find a good investment project home.

John.Siddons@prucarolinas.com
0 votes
smallsconstr…, Both Buyer And Seller, Charlotte, NC
Tue Apr 23, 2013
it seems the investment properties in charlotte have esculated to extreme prices.to where envestment proffitt are already consumed by over pricing the properties.im currently starting a bussiness for investors @ future home buyers to evaluate these future investment properties so there not wasting there time on these overpriced properties.im a general contractor in commercial and residential construction.as well as a property investor..and seen first hand this investment delima.if iu can help any future investors or home buyers please call or email me..smallsconstruction01@gmail.com..828 896 6357.office980 236 8411..been in the construction bussiness for 30 yrs..thankyou
0 votes
Darlene Espi…, , Charlotte, NC
Tue Jun 12, 2012
Buenas noches Senor Figueroa,
Ud. recibio mucho aconsejo correcto de estos agentes. Si quiere representacion como un comprador, estoy aqui para ayudarle.
Con respeto,
Darlene Espinoza
NC/SC Realtor®
Keller Williams Realty-Ballantyne
Area Market Center
(704) 421-0069
0 votes
Robin Faison, Agent, Kannapolis, NC
Tue Jun 12, 2012
Mr. Figueroa,

This house is in a very sought after neighborhood in South Charlotte near Southpark. It is being sold out of an estate. If you do the math, then your will see that the difference between what the listing price is and the current market sold price is $9/sq ft. Fixed up price per sq ft is $182; list price is $173 per sq. ft.- leaves one with $20,754 roughly to renovate.

From the photos, the house needs heavy cosmetic renovation and probably needs new kitchen appliances too. The answer to your question lies with 1) whether you are doing the renovating or hiring it out and 2) at what price the house will sell for 3) how much mechanical and structural work needs to be done.

You are right that the recent comps are mostly 2 story houses. I think that the tax value is a bit high for our current real estate market. If you do buy, then I would be interested in how you handle the renovation. Many people would take the roof off to create a 2 story with dormers. Cotswold and Myers Park are full such renovations. Not sure what you mean by 100% renovation?

Robin
0 votes
Erma Lane, Agent, Charlotte, NC
Tue Jun 12, 2012
If you are not already working with a Buyer's Agent, and would like for me to show you this home, please call me at 704-201-7398. I would be happy to set up an appointment for us to see.
0 votes
Erma Lane, Agent, Charlotte, NC
Tue Jun 12, 2012
If you are not already working with a Buyer's Agent, and would like for me to show you this home, please call me at 704-201-7398. I would be happy to set up an appointment for us to see.
0 votes
dave, Agent, Charlotte, NC
Tue Jun 12, 2012
There area couple fo ranches that sold in there in the past year. They actually command a higher dollar amount and do to the fact they are rarer they tend to sell quicker in there. the last 2 ranches in there sold in under 40 days one was a renovated ranch and the other was bank owned....Depending on what you can get the place for and the amount fo work you are putting into it you should have a decent return and can probably fetch in the mid $500's to low $600's for the house renovated.
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