Tuesday, June 17, 2014

Flip This House! RP Edition

When the real estate market hit rock bottom this house sold for only 91,500 (early part of 2011). Five months later it "resold" for over double, 237 k. Was a rehab loan rolled into a new mortgage? If memory serves correctly no major rehab was done until later that year. Property listed on 4/24 for 399, now reduced to 389. Zillow's "zestimate" of the house's value is 279,315.

A charming abode with an odd configuration. One of the few surviving single family homes surrounded by large apartment buildings. The side yard abuts the alley and provides plenty of parking (six spots) for guests or to let. The garage, roof and exterior were redone in 2012-11.

According to Trulia the schools are sub par; Field Elementary and local high school rated below standard. But local transportation is optimal. Walking distance to the lake, "L", and Metra (closest of the three). By far the biggest perk is the plethora of parking spots.

Please continue reading for more pictures

How it looked when it sold for under a 100 k
Courtesy of Google Maps

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