Opportunity of the Week

Opportunity of the Week

This is my journal of the best opportunities in the market where I find fixer/flip homes for investors.  We set the rehab budget for each property and the resale target price.  You hire us to project manage all the improvements, and resell for profit that goes back to you the investor.

This week’s opportunity is:  3875 Mumford Pl, Palo Alto 94306

 

Photos taken by Mark Easterday (these photos are not on the MLS)

Overview:

  • Eichler home, mostly original, hoarder house shows very poorly
  • Huge double size lot, 13,000sf and on cul-de-sac
  • Great schools and house is completely salvageable

Our Approach:

  • Listing agent has not posted any photos, clearly its embarrassing
  • Priced at $2.5m, did not sell first week so I doubt over-bidding
  • Teardown and building 2 story would risk upsetting the Eichler community (so this thins out some builders)
  • Say we buy this at $2.5m (better at $2.4m if possible)
  • Budget $300k for complete renovation
  • All In Target — $2.8m
  • Resale target price $3.2m+

Rationale:

  • A good Eichler should be preserved and has very broad appeal
  • Rare 13k lot size is an upside bonus
  • $$/sf resale of $1600/sf range is in line with recent sales
  • The WOW factor of our re-design will be stunning!

Contact Mark at 408-887-1821 or mark@eichlerhomes.com

 

 

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