Purchase #3 (Units 11-12) - Salisbury Duplex

Net Profit - $40,473

 

There's a lot of pride in this duplex...one unit was updated by the previous owner, the other needed quite a bit of work. Most of the work was done myself with the rest hired out to contractors, so when the unit I updated rented almost immediately it was a definite confidence boost!

Both of these units are relatively large - one unit is a 3br/1ba, the other is 2br/1ba, and the duplex is a combined 2,200 sqft. It's located in an area that has begun to turn, which presented a fantastic opportunity as prices went up! It ended up making more sense to sell the property and realize the massive equity growth we'd experienced rather than continue to collect modest monthly cash flow. It was a great deal!

PURCHASE DETAILS

List Price: $105,000

Purchase Price: $92,000

Closing Date: December 27, 2019

Source of Deal: MLS

Funding Source: Conventional

Size: 2,155 sqft  

Estimated Rehab Cost: $8,000

Estimated ARV: $105,000

Bed/Bath: 5br/2ba

 

SELLING DETAILS

List Price: $165,000

Sale Price: $165,000

Close Date: December 17, 2020

Total Time Owned: <1 year

Actual Rehab Cost: $16,110

 

PICTURES

 

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Salisbury Duplex Blog