UPDATE: SOLD
FOR SALE ~ "AS IS" FIXER
Older Home With RIVER VIEW
178 PARADISE ~ ROSEBURG, OREGON 97471
EXCELLENT RENTAL or STARTER HOME!
LOCATION LOCATION LOCATION
CLICK PICS ABOVE TO ENLARGE
$85K (when tax value was $92K) ~ THEN $75K ~ THEN $69K ~ THEN $65K
NOW ONLY $58,000
OR REASONABLE OFFER
2 Bedroom - 1 Small Bath
Big Family room (used as 3rd bedroom by most tenants) Inside Laundry Covered Carport Area Small Shed Enclosed Shop/Porch Area Perfect for a Garden Many Updated Homes in the Neighborhood. Quiet Dead End Street Large Lot with River View From Back Yard |
TAX INFORMATION
-Built in 1945 - Living Area: 960 SF - Lot Size: .13 Ac -Yearly Taxes: $540.76 (paid through July 2013) - Land Value $ 54,500 - House Value $14,745 Market Value $69,245 Well under market value to allow for repairs, but will still consider all cash offers! |
**Please Note: This is a river VIEW ONLY. There is no access to the river from the property.**
DISCLOSURES
"The worst house in the best neighborhood nets the biggest profit."
Well... this is it!
I owned this house for many years and it was an excellent rental. I then sold it on an owner contract before moving to NY seven years ago. Unfortunately, I had to foreclose on it. The previous renters were paying $600/mo and trashed it when they left. I returned to Oregon and rehabbed it as much as I could in three short weeks. It is being sold as a "fixer" as it is an older home and will not finance through a bank. It could stand some updates but these could easily be done as needed. It is very livable as it is, but there are a couple of areas that we wanted to make people aware of that we didn't have time to fix while I was there:
There was a slight leak under the bathroom sink in the drain line. My dad thinks he got fixed, but we left a bucket there just in case. Also the tub drain was pretty slow. Dad treated it with an acid and it seemed to be working again when we left. They say it's a pretty old line that runs in/out of the bathroom and could really stand to be replaced at some point. Because the bathroom is so small, if we were to have kept the house, our plan was to turn it into a half bath and build a full bath in the family room which we would tie into the laundry plumbing. Just something to consider as you're looking.
There is attic access in the laundry room. You are welcome to bring a ladder and look around up there as well. Apparently much of the plumbing is in the ceiling, which I've learned was common in older homes. When I took the house back, the water had been off all winter and apparently some pipes had froze. When the water was turned back on, water started running down the walls. It was caught fairly quickly and those leaks were fixed, but because of this, you will notice a rippling in the bathroom, hall and and one bedroom ceiling. Also, when we used it as a rental, our tenants were using the gas heaters. Apparently the last owner disconnected them (at the fan) and his tenants were just using the electric baseboard heaters. I'm not sure what it would take to hook the gas back up, but they are still there.
(NEW NOTE: I WAS INFORMED BY MY EX THAT OVER THE LAST WINTER, THERE IS A NEW SMALL LEAK IN THE PLUMBING IN THE ATTIC NEAR THE GAS HEATER. HE'D PLANNED TO FIX IT THE NEXT TIME HE GOT TO ROSEBURG, BUT TO MY KNOWLEDGE THE REPAIR HAS NOT YET BEEN DONE. WE HAD THE WATER TURNED ON WHILE WE WERE DOING WORK THERE RECENTLY (02/13) AND DID NOT SEE ANY OBVIOUS LEAKS, BUT THIS IS SOMETHING YOU'LL WANT TO ADDRESS BEFORE THE WATER IS TURNED BACK ON PERMANENTLY.) ALSO NOTE THAT THE WATER HAS BEEN TURNED OFF AT THE METER FOR A COUPLE OF YEARS, SO YOU'LL WANT TO FLUSH THE HOT WATER HEATER BEFORE USING. THE COLD SIDE IS FINE, BUT THE HOT SIDE SMELLS WHEN TURNED ON FROM SITTING UNUSED FOR SO LONG. )
I'm not too good at construction and mechanical type stuff, so if you have other questions, my dad maybe able help with those as he owned the home for many years before I did. But... please feel free to examine the home thoroughly and make sure it will work for your needs. It would be a great home for an investor or handy person who'd like to fix it up in their own sweet time. If you prefer, you could probably tear down the existing house and build new, but understandably, if at some point I do end up carrying the contract, there would also be a stipulation that the house could not be torn down until the loan amount was paid in full.
I'm offering the house at more than $10K under assessed value in order to compensate for items that could still use attention. Although, no further discounts will be given based on the home's condition, I cannot manage a rental from across the country so I am still open and willing to listen to any cash offers. This will be a great buy for someone.
The house will be sold "As Is" so any inspections will be done by the buyer or at the buyer's expense. Bring a ladder if you wish to take a look in the attic area and maybe some plastic if you wish to crawl around under the house, but please... come take a look and
EXPLORE THE POSSIBILITIES.
TERMS FOR PURCHASE
AT THIS PRICE I AM NEEDING A CASH SALE!
This is an older home and will not qualify for bank financing. After already foreclosing on two Oregon properties, I don't want to return to Oregon for this property yet again, so a "cash out" sale is necessary. It's just more than I can contend with long distance. It's possible that I may consider a short term contract with a substantial down payment at some point, but honestly this will be ONLY as a last resort. If that were to happen, the asking price would be raised closer to the actual market value on the tax rolls. I would have to require a very large down payment ($30K+ to cover what I'm out for the last repo and rehab), long term steady employment/income, and your credit would need to be near perfect. I would want about 6% interest on as short a term as possible. You are certainly welcome to submit your best potential contract offer, and if at some point I decide to go with a contract, I will review the submissions. If you already have a substantial down payment available and good credit, perhaps you could check into obtaining a personal loan or perhaps an equity loan on an existing home to cover the difference for a cash sale.
PLEASE NOTE: This home will not be rented in the interim. I know the perfect buyer for this home is out there and for now I'm quite content to let the home sit empty until I find them.
I truly apologize if the section above offends anyone. My only goal is to make clear what I'm able to accept, based on past experiences. I had one lady apparently misinterpret my intent and felt it necessary to rake me over the coals and call my morals into question. If you wish to see her comments, my rather lengthy response, and pictures of the damages that landlords often contend with, please CLICK HERE.
CLICK PHOTOS BELOW TO ENLARGE AND SEE DESCRIPTION.