404 Eielson St, Hatton, ND 58240 listing details

* $11/sq ft, 25 on the dollar, $50,000+ potential profit after repairs. *Minor repairs to bring this home back to life! Act Fast & buy it for the price of the land alone! Address: 404 Eielson St Hatton, ND 58240, Located conveniently between Fargo & Grand Forks. -Specs: Single family, 2,625 sq ft, 4bd/1.5ba (all large bedrooms), Built 1920, 2 story (also has basement & attic), Classic wood throughout home (floors, staircase, doors, etc). Steel Siding, Concrete poured foundation, Large multiple lot 75x150, 1 car garage. -Repairs (see pics): Large Repairs: Flashing around chim...ney on roof leaks (creosote from chiney has stained hallway wall on upper level), Front porch starting to slant (needs to be leveled/replaced). Garage exterior needs redone. Kitchen floor starting to slant (kitchen is an addition, overall foundation is sound & basement does not have any water problems. I estimate most all this could be accomplished for under 30K with contractors. Small cosmetic repairs: Some laminate flooring replaced in kitchen, carpet in hallway upstairs, gutters replaced in spots, ceiling tiles finished in main room, minor painting, add light fixtures, etc. A walk through inspection is best way to determine all this. -Cost: $29,000 Cash Only. Expected Profit Margin After Repair: $50,000+. Comps: Exact comparable properties are hard to determine in small towns like this. I used Traill County as a reference & looked at square footage. Below are some properties to use as a reference: 1044 Golden Shores Dr Hatton, 4bd/2ba, 1,190sq ft, $167,000, ($139/sq ft) 15658 Hwy 200 NE Mayville, 4bd/2ba, 3400sq ft, $227,000 ($65/sq ft) 315 2nd Ave Nw Mayville, 3bd/ba, 1,600 sq ft, $150,000 ($94/sq ft) 627 1st Ave Reynolds, 3bd/2ba, 2,128 sq ft, $135,000 ($63sq ft) Avg price/sq ft for all homes in Traill County built in early to mid 1900s is $65. The newly remodeled homes are more in the $90-$95 range. At $65/sq ft this home would price at $170,625. Even with partial repairs and some cosmetic updating this home should easily sell for $120,000-$140,000. You will have to use your best judgement on value, but you can see that there is a large amount of room for sizable profit, even when being conservative with estimates. Please contact me with further questions/showings. First w/ Cash gets the home. Zach Priority Homes 701-595-0074 [email protected] ~Sound Real Estate Investing~ Show more