
Patrick Menefee
Rental #5 - Fourplex in Fayetteville, NC

Current cash flow - $800/mo
My second purchase of 2020 followed the first - I found it out in Fayetteville, NC! This is a property that I'm incredibly excited about...not because of the property itself, though it will produce a good return, but because of the opportunity in the neighborhood!
The property itself is in pretty good condition, and each unit is a 2br/1.5ba around 875sqft. There were some repairs needed to the crawlspace as well as a few other minor items, but this will be a relatively stable property with stable cash flow!
PURCHASE DETAILS
List Price: $157,000
Purchase Price: $153,000
Closing Date: June 5, 2020
Source of Deal: Realtor
Funding Source: Conventional
Size: 3,509 sqft
Estimated Rehab Cost: $3,000
Estimated ARV: $157,000
Bed/Bath: 2br/1.5ba (each)
SALE DETAILS
Sale Price: TBD!
Sale Date: TBD!
Estimated Profit: TBD!
Total Rehab: $2,500
PICTURES
Coming Soon!