407 Morningside Dr., Houma, LA 70364

• Medium renovation - 676sf
• ALL other homes in neighborhood up from 150k valued
• ARV without addition - 85k - lot will accommodate an addition  - $120/sf in this neighborhood
• Adjacent property available also for investment

4-FLIPS OR RENTALS – under 150k combined!

2 joining PROPERTIES – MORINGSIDE Dr., Houma – 4 rent houses*Houma is not difficult with permitting

45k – CONTRACT  plus add assignment fee – 1stMorningside Dr. property – single house

80k - CONTRACT plus add assignment fee  – 2ndMorningside Dr. property – 3 houses

· 45k – single 676sf 2 beds 1 bath

· 80k – 3 houses/ 868sf 2beds 1 bath/ 560sf 1bed 1 bath/ 520sf 1 bed 1 bath

· All 4 have tenants - $500/month for each house (4 - $2000/month) 

· ALL need roof redone or replaced to be insured

· ARV single house(407) – $120sf x 676sf = 82k and up  – COULD DEFINITELY GO HIGHER!

· OR GREAT BUY & HOLDs – Houma has a shortage of rentals

· ARV  w/addition(600sf) join houses(411&413)/ 1 lot - $120sf x 2028sf = 243k!!! 

– 415 is extra storage or teardown – BEST RETURN

NEARBY COMPS:

· $119sf x 1709sf – SOLD 4/30/23 @ 205k - 409 Crescent Blvd, Houma, LA 70360 | Redfin

· $85sf x 1927sf – SOLD 4/20/23 @ 165k - 1300 Dewey St, Houma, LA 70360 | MLS# 167221 | Redfin

· $87sf x 2284sf –SOLD 3/16/23@199k - 823 Lee Ave Unit As per legal, Houma, LA 70360 | MLS# 2023000952 | Redfin

· $93sf x 2410sf – FOR SALE @ 225k - 602 Crescent Blvd, Houma, LA 70360 | MLS# 2023006054 | Redfin

SIMILIAR size COMPS:

· $116sf x 885sf – SOLD 4/24/23 @ 103k - 520 Gouaux Ave, Houma, LA 70364 | MLS# 2023006406 | Redfin

· $141sf x 953sf – SOLD 2/7/23 @135k - 202 Pear St, Houma, LA 70364 | MLS# 2023000570 | Redfin

$125sf x 800sf – SOLD 1/23/23 @ 100k - 118 Walnut St, Houma, LA 70364 | Redfin