161 Eva James Rd Warsaw NC 28398
$100,000
Overview
Type
Single Family HomeParking
Drive wayBedroom
4Bath
2Sqft
1748About This Listing
🏡 Great light rehab 04′ Warsaw Flip! 🏡
STARTING PRICE: 120K
ARV: 225-235K
RENT RATE 1700-1800/mo
🔨 Easy Flip Opportunity! 🔨
Just 1 hour from Raleigh and Wilmington, this 2004-built property is perfect for a quick, high-return flip! With an estimated ARV of $225k-$235k and rental potential of $1,500-$1,600/month, this spacious home in a quiet neighborhood features a generous backyard. Only light cosmetic updates are needed to maximize its value—an ideal chance to secure solid returns in a prime location. Don’t miss this investment gem!”
ALL PHOTOS (PHOTO LINK)
Perfect For:
🛠️ Fix/Flip:
[Purchase Price] 120K + [Rehab] 20K = [Total Investment] 140K
[ARV] 230K – [Total Investment] 140K = [Gross Profit] 90K
Flip Comps:
-
439 Eva James Rd – SOLD 225K 3 Bed 1Bath, 1326 sqft, 1984 Build
-
238 Dogwood Drive – SOLD 234K 4 Bed 2 Bath, 1748 sqft, 1976 Build
🏠 Rental Investment w/ Cash Out Refi:
[Purchase Price] $120K + [Rehab] $15K = [Total Investment] $135K
[ARV] $230K, [Monthly Rent] $1,750
Financing Strategy:
- Hard Money Phase (Interest-Only):
Monthly Payment: $1,580 (12% rate) - Refinance with Conventional Loan (75% of ARV, 6% rate):
- New Loan Amount: $172,500
- Monthly Payment: $1,034.22
- Cash-Out Amount: $172,500 – $158,000 = $14,500
Potential Monthly Cash Flow after Refinance:
[Rent] $1,750 – [Refinance Payment] $1,034.22 = $715.78
Total Projected Gross Annual Income: $21,000
Do not miss out on this opportunity!
For any inquiries and offers:
📱 Call/Text Jay (704) 386-9191
Property Details:
🚪 4 Bedrooms
🛁 2 Bathroom
📐 1,748 sqft of potential
📅 2004 Built
🧱 Exterior: Vinyl
🏠 Roof Condition: Spots in drywall but no major roof damage
🔧 Utilities: Electric works well 2004
💧 Hot Water Heater: Works well & fast
❄️ A/C Unit: Works
🪝 Basement: Crawlspace
Additional Insights:
📈 Area Details: Quiet Neighborhood
⏳ History: Single family owned
🚧 Attention Required: Ceiling drywall, floors, & paint
🛏️ Vacant: Vacant at close
Do not miss out on this opportunity!
For any inquiries and offers:
📱 Call/Text Jay (704) 386-9191