$395,000

7 Beds   4 Baths   Single-Family
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N Cherokee Ave
Dothan, AL 36303

Potential Profit

$134,626

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Status: Inactive
Listing ID: 56813364

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Property Information

  • Price: $395,000
  • Bedrooms: 7
  • Bathrooms: 4
  • Full Baths: 4
  • Total Square Feet: 5,968
  • Lot Size: 0.86 acres
  • Style: New Traditional
  • Fireplace: Yes
  • Heating Type: Fireplace
  • Year Built: 1955
  • Source ID: 184480
  • Day(s) On Site: 256
  • Subdivision: Tidwell
  • Property Type: Single Family Dwelling
  • Elementary School: Girard Primary/Intermediate
  • Junior High School: Dothan Preparatory (Grades7-8)
  • Senior High School: Dothan High School (Grades 10 - 12)
  •  

Potential Home Value

This property has untapped potential!

Current Value
$395,000
Potential Value
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Short Sale

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

First Steps to Buying a Short Sale

Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.

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Rental Value

The estimated rental value for N Cherokee Ave located in Dothan, AL is $2,030/month. Comparable homes around N Cherokee Ave that are rentals have monthly ranges starting as low as $1,930 per month and as high as $2,130 per month. An owner looking to use this property as an investment could bring a return in the area of $1,930 - $2,130 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.


Dothan, AL
Home Inspectors
Alabama Home InspeXions, LLC
Darrin Swan
334-447-9405
Homes On This Street
View more homes on N Cherokee Ave
foreclosure.com

N Cherokee Ave
Dothan, AL 36303

7 Beds   4 Baths   Single-Family

$395,000

Status: Inactive Listing ID: 56813364

Property Information

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Public Records

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=N-Cherokee-Ave-Dothan-AL-36303/56813364_lid

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