在Woodbridge, VA. 1959 年建的bi-level. 4 bedrooms, 2 full bath. cash deal. $113000.
My partner provides all the funds, and I provide the opportunity and all the management.
Need around $15K to fix it to very good condition, with new carpet, new tiles, new paint, new roof, etc.
Total cost would be-
$113000 + $2000 closing cost + $15000 fix up = $130000.
We can either sell it now for $180K, or hold it to sell the next spring. In the long run, it will go up a lot. Normally, it should double the price in five years. There is almost nothing in the lower end on the market right now.
Rent is around $1500 per month, tax $2386 per year. No HOA.
When I bought my last house in Woodbridge for $75K, I said it would double the price in two years, but it is already doubled in only one year.
Here are the projection and real data. The normal appreciation is projected using 7% appreciation rate. While the market flucuation is summarized using real data.
| Year | Normal Appreciation | Market Fluctuation | samples | |||
| 1998 | $93,000.00 | $93,000.00 | ||||
| 1999 | $99,510.00 | no data | ||||
| 2000 | $106,475.70 | $117,000.00 | ||||
| 2001 | $113,929.00 | $164,500.00 | 140000 | 189000 | ||
| 2002 | $121,904.03 | $199,666.67 | 189000 | 232000 | 178000 | |
| 2003 | $130,437.31 | $202,251.50 | 197000 | 172500 | 224000 | 215506 |
| 2004 | $139,567.92 | $245,333.33 | 226000 | 240000 | 270000 | |
| 2005 | $149,337.68 | $329,000.00 | 298000 | 360000 | ||
| 2006 | $159,791.31 | no data | ||||
| 2007 | $170,976.71 | $265,000.00 | 330000 | 200000 | ||
| 2008 | $182,945.08 | $178,000.00 | 191000 | 165000 | ||
| 2009 | $195,751.23 | $129,333.33 | 109000 | 129000 | 150000 | |
| 2010 | $209,453.82 | |||||
| 2011 | $224,115.59 | |||||
| 2012 | $239,803.68 | |||||
| 2013 | $256,589.93 | |||||
| 2014 | $274,551.23 |
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