638 Front St Statesville, NC 28677

Listing details for 638 Front St, Statesville, NC 28677 : Investor special 3-plex with potential for substantial $1,000 +/- month cash flow! Two: 2 bedroom units down stairs and 1 studio apartment up stairs. Unit A: vacant - projected rent of $700 / Unit C: Vacant - projected rent of $700 / Unit B: Rented $325 (good, long term tenant.) BRRRR scenario: $195,000 (ARV) - $45,000 (Rehab) x .70% = $105,000 purchase price. Refinance = $195,000 (appraised value) x .70% (Loan To Value) = $136,500 back into your pocket.  Equity gained: $58,500 (30% equity left in property.) Rent and cash flow roughly $1,000 plus per month with $58,500 equity left in property! OR renovate and flip for a quick 50k plus profit!! *All information deemed to be accurate / projected and up to the buyer/buyer agent to determine/verify.*  HVAC does not work. Sold "as-is, where is."