I’ll make it back to Coldwater Springs sometime soon, but, for now, this house is making me crazy. I’ve been following it for six months, and, despite a very sweet pricing history, it just won’t move.
What’s this property’s Achilles’ Heel? It’s missing its dishwasher, and I think the lack of a $600 item is sending buyers elsewhere.
If you can make a mental leap, you’re in for a nice bargain. The home faces south, and you’re just steps away from the Coldwater Springs Golf Course. There’s ample shopping nearby, and the public school is right in the middle of the subdivision. Kids can walk or ride their bikes to school without ever crossing a busy street.
As a starting bid, I like this home at $85,000. It has competition at $88,5000, but the recent low sale in the Lavendar floorplan was $105,000. The all time high for a Lavendar without a pool was $267,107.
You’re looking at around $5,000 after closing to whip it into shape — dishwasher, range, refrigerator, carpet, paint, landscaping and touch-ups.
How will it rent? It should go for $950 a month, comfortably, throwing off around $7,200 a year in before-tax cash-flow.
This is a smokin’ deal in an Avondale neighborhood that should be a pace-setter, once the real estate market starts to recover.
If you want to give it a closer look, email me or phone me at 602-740-7531.
Not home yet? Not to worry. We’ll talk about another great deal tomorrow.
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