Cape Street

TYPE: Fix and Flip

CASH INVESTED:  $402,850.00

CASH RETURNED:  $458,850.00 

DAYS: 144

YIELD (annualized):  57.6%

Purchase price:  $335,000


Sale price:  $495,000


Renovation:  ~$72,400


Summary:  Referral from Scott, a local realtor within our neywork.  Had been lived in for 30 years without updates. Standard renovation, nothing complicated:   new kitchen, new bathrooms, paint, floor, carpet, doors, hardware.  Property was listed at $480K and went from listing to closed in 3 days for $15K over asking.  We should have held it as a rental because it sold in the 600s just a couple years later.


MLS Description:

Welcome to this stunning remodeled and expanded ranch, one of the largest in the neighborhood! With spacious eating and family area, the open-concept main level is perfect for entertaining. The kitchen features new quartz countertops, luxury vinyl plank flooring, stainless steel appliances, gas stove, pendant lighting, new paint, new trim, new carpet, new doors, and interior. All bathrooms have been upgraded with new tile, tubs, showers, sinks, light fixtures, and modern finishes. Bedrooms are oversized. The basement features a flex space, bathroom with shower, and bedroom with built-in cabinetry. The multiple living areas provide ample space for families of any size, as the house is nearly 3,000 finished SF. The home sits on a lot size of 8,000+ square feet, with a freshly painted back deck and extra storage in the backyard shed. Located just south of Belmar Shopping area, minutes from 6th Avenue access for mountain or city commuting, and near parks, rec center, bike paths, lakes, and libraries. You won't want to miss out on this opportunity!


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