720 E Main St,Maiden, NC 28650

Great opportunity in 720 E Main St,Maiden, NC.

This home consists of 3 bd/ 1 ba/ 1,680 sqft of living space on a 0.25 acres. Don’t miss out on this great opportunity!

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 55% 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:

$105,000

After Repair Value:

$275,000

Investment Duration:

62 Days

Return on Investment:

55%

Rehab Cost

$78,700

Agreed Purchase Price:

The end buyer has agreed to purchase the property for $260,000 and has made a 25% non refundable deposit towards the ARV.

Security

Rock-solid, legally binding joint venture agreement guaranteeing your investment return and a 21% lien on the property.

StrandPark-Properties-JV-contract-agreement-Download

Lead Contractor

Tyler Walker

Property Details:

Size: 3 bedrooms, 1 bathrooms, 1,680 sq ft
Lot: 0.25 acres
Year Built: 1920
Needs full rehab including HVAC system.

Rehab Cost Estimate:

1. Demolition and Abatement:

Complete Interior Gutting: Removal of all interior materials, including suspected asbestos (floor tiles, insulation), mold remediation, and hazardous waste disposal: $5,000 (specialized abatement required)
Structural Debris Removal: Removal of collapsed ceiling debris (likely containing asbestos, mold), and any compromised structural elements: $5,000(specialized handling)

2. Structural Reconstruction:

Roof Replacement and Framing Repair: Complete tear-down and rebuild of the roof structure, addressing major rot and compromised framing: $10,000 (major structural work)
Wall Re-Framing: Complete re-framing of all exterior and interior walls due to rot and damage: $6,000

3. Exterior Reconstruction:

Siding Replacement: Complete siding replacement, likely with premium materials due to potential moisture damage: $5,000
Window Replacement: High-end, energy-efficient windows for all openings: $6,000
Exterior Door Replacement: High-security, weather-resistant doors: $2,000
Gutter and Downspout Replacement: High-grade, seamless gutters: $1,700
Porch Reconstruction: Complete rebuild of the porch with durable materials: $2,000
Landscaping and Grading: Extensive site preparation, including potential soil remediation, new landscaping, and hardscaping: $4,000

4. Interior Reconstruction:

Electrical System Replacement: Complete rewiring with new panel, high-end fixtures, and smart home integration: $5,000
Plumbing System Replacement: Complete re-piping with high-efficiency fixtures and potential in-floor heating: $3,000
HVAC System Replacement: High-efficiency, multi-zone HVAC system with air purification: $5,000
Insulation and Vapor Barrier: High-performance insulation and vapor barrier system: $5,000
Flooring System: Concrete slab repair, subfloor installation, and premium flooring (hardwood, tile): $6,000
Kitchen Reconstruction: Custom, high-end kitchen with premium appliances and finishes: $6,000
Wall and Ceiling Finishes: High-end drywall, plaster, and custom finishes: $5,000
Interior Painting: Premium paint and custom finishes: $4,000
Cleanup and Finishing: Detailed cleaning, staging, and final punch list: $3,000

Total Estimated Rehab Cost: $78,700