1223 Norris Dr

Bossier City LA 71111

1650 sq. ft.

10890 sq. ft.

Single-Family

Currently for sale - view listing

Overview

HUGE PRICE DROP!!! GOOD BONES WITH A GOOD FLOOR PLAN & FLOW PLAN. Home includes long driveway to a large 2 car garage and shop off to the side. Home needs repairs and updates but should pass an appraisal for conventional loan. Owners are not willing to make any repairs as a result of home inspections or appraisal unless we raise the price to cover buyers request for repairs and or closing costs BUYERS looking for a bargain should look in to interim financing to include the sales price of the home along with the closing costs, pre-paids (for your taxes and insurance) and the costs to update and remodel the home (approximately $30,000 + - $5,000) with a local bank or hard money lenders and convert it onto a mortgage of choice (VA, FHA, Conventional) when complete. Home should then appraise for close to $165,000 (+ - $5,000) earning you potentially $25,000+ in instant equity (profit potential). INVESTORS looking for a home that needs TLC for their rental portfolio via DSCR loan or hard money lending. Home should rent for $1,800 (+ - $100). Obtaining a DSCR loan for 80% of ARV, closing costs and sales price will provide you with $22,000 to $26,000 to update and repair the home. Monthly note (P.I.T.I.) approximately $1,200 and should rent for $1,700 earning $500 in residual income. Located close to I 20, I 220, I 49, Barksdale AFB, Global Strike, BPCC, downtown Shreveport & Bossier, great blue-ribbon schools and the best shopping & dining the area has to offer off Airline. We're looking for a buyer with a vision with ability to See the Forest Through the trees. If this is you give contact me to preview the home and discuss your options. Rooms sizes and all aspects of the home are believed to be true and accurate, but it will be the buyer’s responsibility to verify.