Property Overview
Property: 1307 Ann Street, Wilmington, NC 28401
Property Type: Single-Family Residential
Bedrooms: 4
Bathrooms: 3
Current Rent: Approx. $2,300/month
Asking Price: $334,900
Occupancy: Existing rental
Condition: Updated / functional with value-add potential
Investment Highlights
- Existing rental income of approximately $2,300/month
- Multiple exit strategies
- Strong rental-ready value potential
- Flip upside with additional renovation
- Updated major systems
- Rear parking
- Insulated / wired shed
- Established Wilmington location
- Opportunity for landlord, investor, or flipper
Exit Strategy 1: Rental / Buy-and-Hold
The property may be well suited for a landlord or investor looking for an income-producing asset with built-in equity potential.
Rental Numbers
Current Rent: Approx. $2,300/month
Annual Gross Rent: Approx. $27,600
Estimated Light Rehab / Turn Cost: Approx. $15,000–$20,000
Estimated Rental-Ready Market Value: Approx. $410,000–$430,000
Working Rental-Ready Value: Approx. $420,000
At an acquisition price near the asking price, an investor may have meaningful equity remaining after a light renovation, depending on final repair scope and financing costs.
Example Rental Basis
Purchase Price: $334,900
Estimated Light Rehab: $15,000
Approximate All-In Basis: $349,900
Working Rental-Ready Value: $420,000
Approximate Gross Equity Position: $70,000
Buyer should independently verify rents, expenses, market value, financing terms, and final repair budget.
Exit Strategy 2: Renovate + Flip
The property also offers potential for a retail renovation and resale strategy.
Flip Numbers
Estimated Fully Renovated ARV: Approx. $462,000
Estimated Full Renovation Budget: Approx. $40,000
Asking Price: $334,900
A buyer with efficient construction, holding, financing, and resale costs may be able to create a profitable flip opportunity.
This exit is best suited for an investor who can control rehab costs and execute efficiently.
Property Condition / Improvements
Based on current information, the property appears to have several major systems already updated, helping reduce the risk of a full mechanical renovation.
Potential improvements may include:
- Cosmetic updates
- Flooring
- Paint
- Kitchen / bathroom updates as needed
- Landscaping / curb appeal
- Interior finish improvements
- General rental or retail turn work
Buyer should independently inspect all systems and verify final renovation scope.
Why This Property
This opportunity may appeal to:
- Buy-and-hold landlords
- Wilmington rental investors
- Value-add investors
- Flippers
- Small portfolio operators
- Investors seeking built-in equity
The ability to underwrite the property from both an income approach and a retail resale approach provides flexibility depending on the buyer’s strategy.
Price & Terms
Asking Price: $334,900
Cash or private financing preferred.
Proof of funds may be requested prior to property access or release of certain due-diligence materials.
Property is being offered as-is.
Contact
For additional information, photos, access, rental information, or to submit an offer:
Mark Rodriguez
Joint Venture Properties LLC
480-251-8684
mark@jointventure-properties.com
All information is believed to be reliable but is not guaranteed. Buyer and buyer’s representatives are responsible for independently verifying property condition, rents, expenses, square footage, bedroom/bathroom count, ARV, repair costs, zoning, market value, and all investment assumptions prior to closing.