524 S 5th St, Niles, MI 49120

Details: 

🛏️ Beds: 2

🛁 Baths: 1

📐 Living Area: 1,024 sq. ft

📐 Lot Size: 2,919 sq. ft

🏢 Year Built: 1922

• PLUMBING & ELECTRIC NEW
• ROOF HE DOESN'T KNOW THE AGE. NO LEAK
• AC SINCE 2016
• WATER & HEATER
• NEW UNFINISHED BASEMENT
• OWNER OCCUPIED
• NEW CABINET NEW KITCHEN NEW APPLIANCES
• NEW BATHS
• FOUNDATION & STRUCTURE OK
  

CONTRACT PRICE: $27,164

EST. EXPENSES: $55,000

AFTER RENOVATION VALUE: $130,000+

EST. TOTAL PROFIT: $45,000+

Does the market support the Sales Projections?

🏘️ Comps:

#1 - 111 S 7th St, Niles, MI 49120

2 bd 1 ba - 952 sqft 

Sold: $112,000 - Sold on 11/22/23 

#2 - 305 S 5th St, Niles, MI 49120

3 bd 1 ba - 922 sqft

Sold:$118,000 - Sold on 04/28/23 

#3 - 115 S 7th St, Niles, MI 49120

2 bd 2 ba - 625 sqft

Sold: $120,000 - Sold on 03/19/24

Exit: Assignment. Assigned to an investor for $40,000 and collected $8,500 assignment fee

Paperworks:

Purchase & Sales Contract

Assignment Agreement 

Closing Statement