1112 Newport Ave, Elizabeth City, NC 27909
Great opportunity in Elizabeth City, NC.
This Elizabeth City home consists of 2 beds, 1 bath, 812 sq ft of living space on a 8,102 sq ft lot. Don’t miss out on this great opportunity!
Investment and Property Details
At Strandpark Properties, we believe in creating win-win opportunities. We invite our clients to sponsor rehab projects, which not only shares the financial success but also fosters a truly collaborative partnership. While we could fund these projects ourselves, we actively value the insights and involvement of our clients. This unique approach allows you to earn 40% profit from the sale of the property, in addition to your initial investment back, making it a lucrative opportunity for everyone involved.
Explore our current deals and join us in transforming properties into profitable ventures.
Purchase price:
$70,000
After Repair Value:
$179,500
Investment Duration:
35 Days (30–day renovation phase and a 5-day final closing period)
Return on Investment:
40% Profit split
Rehab Cost
$21,000
Estimated Purchase Price:
$150,000 to $165,000
Security
IMPORTANT NOTICE: Investment Security and Closing Guarantee
A Purchase Agreement has been signed with a committed End Buyer, providing an anticipated exit for the project.
In the event the End Buyer fails to close immediately following the property rehab completion, Strandpark Properties Limited is contractually obligated to pay the investor their full Return on Investment and Initial Investment on the exact date agreed upon by the investor and Strandpark Properties, as stipulated in the Joint Venture Contract Agreement. This serves as a principal guarantee and ensures the investor is paid on schedule regardless of the final sale timeline.
No Additional Capital Calls: The Operating Partner is solely responsible for any cost overruns, protecting the investor from being asked for further funds beyond the initial $21,000 commitment.
Information Rights: Weekly financial reporting requirements ensure complete transparency, allowing the investor to monitor the project’s financial health in real-time.
Lead Contractor
Matt Conwell
Rehab Cost Breakdown
- HVAC Install:
- Kitchen Update: Painting existing cabinets, replacing countertops, adding a tile backsplash.
- Paint: Extensive surface prep (including paneling), priming, and applying fresh, neutral paint to all walls and ceilings.
- Minor Flooring Fixes: Small area patching, ensuring transitions are sound, and localized subfloor repairs.
Total Rehab Cost: $21,000
Total Rehab Cost: $,000