Here is my latest Charlotte area real estate
investor suggestion list. There appears to have been a slight slowing of
activity in the late-summer. REO properties seem to be on the market longer,
and with a 15-day owner-occupant preference period for Fannie Mae and Freddie
Mac properties, that means more become available to investors. Here is a
summary of the properties in this edition:
#1- MLS 2171420 - 3BR/1BA in the Starmount community (near South Blvd and light rail); reduced to $90,000 with a tax value of $140,700. This could be either a good fix-and-flip or a decent rental property.
#2- 2163665 - 3/2 Fannie Mae REO in Matthews (good area and schools); reduced to $120,000 with tax value of $135,300.
#3- 2143477 - larger 3/2.5 in Huntersville; this Fannie REO was under a contract that failed; nice upgrades and finishes, but needs some rehab; reduced to $172,000 with a tax value of $206,500.
#4- 2162256 - 4/2.5 in Dallas (Gastonia) built in 2010; this Chase REO needs very little and would make a good rent-and-hold property with a LP reduced to $137,750 and a tax value of $169,079.
#5- 2159466 - 4/2.5 in zip code 28273 - reduced to $138,900 with tax value of $181,100.
#6- 2173179 - 3/2 Fannie Mae REO in northern Monroe on 1.53 acre lot; priced at $129,900 with a tax value of $164,360.
#7- 2173568 - 3/2 on .56 acre in Mooresville (Lake Norman area), this Fannie Mae REO is priced at $185,000 with a tax value of $213,940.
#8- 2173881 - 3/2 VA REO just north of Mint Hill; asking $85,000 with tax value of $106,300.
#9- 2143911 - 3/2 in Matthews (again; good location and school assignments), reduced to $134,900 with a tax value of $148,300.
#10- 2166733 - 3/2 Fannie Mae REO in Idlewild South reduced to $59,900 with tax value of $92,300.
#11- 2169714 - 3/1.5 REO in zip code 28212 (East Charotte) reduced to $67,000 with tax value of $90,200.
#12- 2173717 - Duplex in zip code 28210 with each side rented for $590; listing price of $115,000 with a tax value of $123,900. This is a bit unusual in that these smaller multifamily properties don't usually generate a decent gross yield, but even at the full LP, this one would generate 12%+ gross, assuming the $590/month per side representation is true. It might also have some room for appreciation.
#13- 2164998 - 3/2.5 in N. Charlotte is a rare HUD home that made it past the 30-day preference period; reduced to $81,000 with a tax value of $149,200. There are probably condition issues here.
#14- 3/2 Fannie Mae REO in Indian Trail with 57 DOM, reduced to $141,900 with tax value of $165,580.
#15- 2160176 - 4/2.5 in B of A REO in sizp code 28211 (near Dilworth) reduced to $199,400 with a tax value of $257,200.
#16- 2149617 - 4/2.5 Matthews/Weddington home on 2 acres; reduced to $225,000 with tax value of $289,080.
#17- 2150030 - 3/2 renovated turn-key home (probably a flip) reduced to $134,900 with tax value of $157,000. Zip code 28212; this might still make a decent turn-key rent and hold.
As always, if you have any questions about these or any other properties, please don't hesitate to contact me.
Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.
XPROP - Customer
Eric J. Dorer, B.S., J.D.
NC/SC Broker/Realtor®
Eric J. Dorer Real Estate
ejdorer@gmail.com
#1- MLS 2171420 - 3BR/1BA in the Starmount community (near South Blvd and light rail); reduced to $90,000 with a tax value of $140,700. This could be either a good fix-and-flip or a decent rental property.
#2- 2163665 - 3/2 Fannie Mae REO in Matthews (good area and schools); reduced to $120,000 with tax value of $135,300.
#3- 2143477 - larger 3/2.5 in Huntersville; this Fannie REO was under a contract that failed; nice upgrades and finishes, but needs some rehab; reduced to $172,000 with a tax value of $206,500.
#4- 2162256 - 4/2.5 in Dallas (Gastonia) built in 2010; this Chase REO needs very little and would make a good rent-and-hold property with a LP reduced to $137,750 and a tax value of $169,079.
#5- 2159466 - 4/2.5 in zip code 28273 - reduced to $138,900 with tax value of $181,100.
#6- 2173179 - 3/2 Fannie Mae REO in northern Monroe on 1.53 acre lot; priced at $129,900 with a tax value of $164,360.
#7- 2173568 - 3/2 on .56 acre in Mooresville (Lake Norman area), this Fannie Mae REO is priced at $185,000 with a tax value of $213,940.
#8- 2173881 - 3/2 VA REO just north of Mint Hill; asking $85,000 with tax value of $106,300.
#9- 2143911 - 3/2 in Matthews (again; good location and school assignments), reduced to $134,900 with a tax value of $148,300.
#10- 2166733 - 3/2 Fannie Mae REO in Idlewild South reduced to $59,900 with tax value of $92,300.
#11- 2169714 - 3/1.5 REO in zip code 28212 (East Charotte) reduced to $67,000 with tax value of $90,200.
#12- 2173717 - Duplex in zip code 28210 with each side rented for $590; listing price of $115,000 with a tax value of $123,900. This is a bit unusual in that these smaller multifamily properties don't usually generate a decent gross yield, but even at the full LP, this one would generate 12%+ gross, assuming the $590/month per side representation is true. It might also have some room for appreciation.
#13- 2164998 - 3/2.5 in N. Charlotte is a rare HUD home that made it past the 30-day preference period; reduced to $81,000 with a tax value of $149,200. There are probably condition issues here.
#14- 3/2 Fannie Mae REO in Indian Trail with 57 DOM, reduced to $141,900 with tax value of $165,580.
#15- 2160176 - 4/2.5 in B of A REO in sizp code 28211 (near Dilworth) reduced to $199,400 with a tax value of $257,200.
#16- 2149617 - 4/2.5 Matthews/Weddington home on 2 acres; reduced to $225,000 with tax value of $289,080.
#17- 2150030 - 3/2 renovated turn-key home (probably a flip) reduced to $134,900 with tax value of $157,000. Zip code 28212; this might still make a decent turn-key rent and hold.
As always, if you have any questions about these or any other properties, please don't hesitate to contact me.
Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.
XPROP - Customer
Eric J. Dorer, B.S., J.D.
NC/SC Broker/Realtor®
Eric J. Dorer Real Estate
ejdorer@gmail.com
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