STRANDPARK

153 W Ravenscroft Rd, Sparta, TN 38583

Great opportunity in Racenscroft Rd, Sparta, TN

This home consists of 3 bd/ 2 ba/ 1,488 sqft of living space on a 0.69 acre lot. Don’t miss out on this great opportunity!

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Investment and Property Details

At Strandpark Properties, we believe in creating win-win opportunities. By allowing our clients to sponsor rehab projects, we not only share the financial success but also foster a collaborative partnership. While we have the resources to fund these projects ourselves, we value the insights and involvement of our clients. This unique approach allows you to earn 40% return on your investment when the property is flipped, making it a lucrative opportunity for everyone involved. Explore our current deals and join us in transforming properties into profitable ventures.

Purchase price:

$110,000

After Repair Value:

$235,000

Investment Duration:

58 Days

Return on Investment:

40%

Rehab Cost

$35,000

Agreed Purchase Price:

The end buyer has agreed to purchase the property for $220,000 and has made a 20% non refundable deposit towards the ARV.

Security

Rock-solid, legally binding joint venture agreement guaranteeing your investment return and a 20% lien on the property.

Strandpark-properties-JV-contract-agreement-Download

Lead Contractor

John Baker

Property Details:

  • Size: 3 bedrooms, 2 bathrooms, 1,488 sq ft
  • Lot: 0.69 acres
  • Year Built: 1977
  • Condition: Needs new HVAC, carpet, paint, and general updating.

Rehab Cost Estimate:

1. Major Systems:

  • HVAC Replacement:
    • Cost: $6,000
  • Plumbing:
    • Cost: $1,800
  • Electrical:
    • $1,500

2. Interior Renovations:

  • Flooring (Carpet Replacement):
    • Cost: $1,650 (This accounts for carpet and installation.)
  • Painting (Walls & Ceilings):
    • Cost: $2,200 (This includes labor and materials.)
  • Kitchen Remodel:
    • Cost: $6,000
  • Bathroom Remodels (2):
    • Cost: $10,850
  • Drywall/Paneling Replacement:
    • Given the amount of paneling that is in the home, it would be wise to remove that, and replace it with drywall.
    • Cost: $3,000

3. Exterior & Other:

  • General Repairs & Updates:
    • Cost: $1,500 (This covers miscellaneous repairs, trim work, door replacements, etc.)
  • Cleanup and Debris Removal:
    • Cost: $600

Total Estimated Rehab Cost:

$35,000