This single-family property is available as a as-is deal at Somers Ave. It has 3 bedrooms, 2 bathrooms, and 1,052 square feet of living space. Based on our analysis of the current market conditions in Burlington for Somers Ave and comparable listings, the estimated market value is $183,540. The property located at single-family has potential equity of $57,860. If purchased for rental purposes, the monthly rental rate could range between $890 and $991. For those interested in resale, the estimated profit from selling is $57,860. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Somers Ave are updated daily along with others in Burlington, North Carolina.
Plus with taxes and insurance
Based on 20% down, 30 year mortgage, with 5% APR
All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependant on credit scores, loan timeline, and a down payment amount.
The property located at Somers Ave in Burlington, NC is listed as a As-Is DealThis is an inactive As-Is Deal listing located in Burlington, North Carolina. Properties on static.foreclosure.com are typically available for deep discounts that can often reach 50 percent or more!
Properties that are labeled as "Deals" can be structured in a variety of ways depending upon the condition of the property and its title, and depending upon your own motivation. These properties are not necessarily in a foreclosure, preforeclosure, bankruptcy, etc. and may just be available for sale by the current owner. For the handy person who knows construction and remodeling, purchasing a 'fixer upper' and bringing it up to standards offers terrific potential for profit. Likewise, ‘as is’ properties offer no guarantee as to the condition of the property or its title, but can represent a unique opportunity for the real estate investor willing to make the effort to identify any hidden flaws and factor that into the purchase.
In each of these scenarios you still must perform your due diligence. Search for the property that suits you. Make a visual inspection of the property and neighborhood. Contact the person or entity that controls the property: Realtor, property owner, lender, or court appointed receiver. In your offer include all the conditions you need to protect yourself including inspections, appraisal, title search, responsibility for repairs, and satisfactory financing. Read and understand the appraisal, inspection reports, and title report. These items affect your bottom line when the transaction is completed.
The estimated rental value for Somers Ave located in Burlington, NC is $940/month. Comparable homes around Somers Ave that are rentals have monthly ranges starting as low as $890 per month and as high as $991 per month. An owner looking to use this property as an investment could bring a return in the area of $890 - $991 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.
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