Monday, August 18, 2014

Real Estate Monday: Edgewood

Today's pick is to prove a point to myself. To trust my gut. A lot of my seasoned readers know we bought a foreclosure on Maple Avenue before, and when I lost out on the chance to act again, I thought it'd be ages till another one came on the market. Then there was 440 Maple, listed at $105,000. I called my Realtor (I wasn't licensed at the time, still had a month to go) and asked her to see it. She then proceeded to give me all the reasons why it wasn't worth seeing. Mistake #1. I should have found someone else willing to show it to me. In her defense, I was looking on behalf of my parents, who aren't the quickest investors to pull the trigger, but I was determined. Insert sob story here.
Flash forward four months, it sold for over asking price at $123,500. Clearly other people saw its value as well to bid up the price like that. And I'm going to give you a little secret: anything on that side of Maple around $100k no matter what the condition is WORTH IT! Because once you put a little money into it, these houses sell consistently around the upper $300's. That's a huge deal!
I've been driving by the house watching the progress and it's finally back on the market at a whopping $455,000! Wanna see it?
Here's 440 Maple Avenue, Pittsburgh, Pa 15218
It boasts 5 bedrooms, 3.5 bathrooms. Here are some photos:
They re-stuccoed the entire front, and staged it with porch furniture & some flowers. 

I love this fireplace for some reason. Maybe it's the simple contrast of the white brick against those newly refinished floors. 

I feel like this is a very typical kitchen for a flip. You watch those shows on HGTV, you know what I mean, right? I would have liked to have seen a little more creativity here, but I understand, their goal is to appeal to the masses, not to little ole' me. 

How's this for a dressing room? 

Love fireplaces in the bedroom. So cozy! 

 Can you see why I'm a little sad about missing this opportunity? Oh well. C'est la vie.
As always, if you'd like to see this house, or any others on the market, feel free to call or email...we'll schedule a showing. And if you're a fellow investor/interested in flipping, I'm really good at finding a deal, and I promise to not talk you out of seeing something based on my own opinions (not. bitter. at. all)!

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