I have a house in Maine I am selling. I am not into real estate but I know a bunch here are. The house is a 2 story house that can be turned into a 1 or 2 unit apartment. The location is right in town and on the edge of a really nice neighborhood. It's about 10 miles from the University. We have other homes around here that rent out to students all year long. You probably won't benefit unless you had 2 units paying. You could probably rent the downstairs for $800 and the upstairs for maybe $650. My current taxes are $2400 yearly.
EDITED TO ADD: It's 1900 sq ft I believe but I can get a more accurate reading.
The house would need some work done. My guess is $30K - $40K to get it up to code, touched up, repairs, etc. The house is currently appraised at $144K but homes of the same caliber in good condition nearby are appraised at close to $200K. A nice home 2 houses down sold last Fall for $215K.
My neighbor wants to walk through it and assess it and may actually buy it but I am looking for a back up plan. If anyone is interested if my neighbor backs out then let me know. It won't be ready to walk through probably for another 4-6 weeks. We are cleaning out the attic and basement and stuff like that.
EDITED TO ADD: It's 1900 sq ft I believe but I can get a more accurate reading.
The house would need some work done. My guess is $30K - $40K to get it up to code, touched up, repairs, etc. The house is currently appraised at $144K but homes of the same caliber in good condition nearby are appraised at close to $200K. A nice home 2 houses down sold last Fall for $215K.
My neighbor wants to walk through it and assess it and may actually buy it but I am looking for a back up plan. If anyone is interested if my neighbor backs out then let me know. It won't be ready to walk through probably for another 4-6 weeks. We are cleaning out the attic and basement and stuff like that.
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