1057 La Salle, Waterford – $72,500 – 3 or 4 Bedroom, Great Curb Appeal, Large Garage and Lot Sold

  • $72,500
  • 3 beds
  • 1 baths
  • 1436 sqft

I have a contract available for assignment for 1057 La Salle Ave in Waterford. Price is $72,500.

3 or 4 bedrooms with nice curb appeal, and huge 720 sqft garage with stand-up height loft above. Large lot, large balcony with awning off 2nd floor bedroom, sunroom in back. Full basement.

Somewhat dated but functional, with features like basement, huge garage, deep lot, large balcony awning and sunroom that appeal to tenants. Was rented for $1,000/month through the end of March, tenants just moved out, so easy access to show.

Over 100 more high-res photos available at https://www.dropbox.com/sh/k49cbe5hxvwqyxa/AAA0jWB6B-RMQ0LUAWEbP9L8a?dl=0

Major cost items look OK (roof, furnace, windows, siding, foundation, HWH, plumbing, electrical). Your rehab budget will depend on how much updating you choose to do.

Here’s how you might approach it:

The census stats on the neighborhood are 69% owner-occupied and 31% rental. The rehab budget really depends on the level of reno and your exit strategy.

Could rent as-is with minor fix-up, or update and command higher rent ($1,250 – $1,300), or even flip. ARV in the neighborhood for a similar house is around $125K, so with an investment of perhaps $15K – $20K for a full rehab you’d be around $90K invested but have significant equity. You could refinance after seasoning at a 75% LTV and pull all your money back out.

Upstairs formerly two bedrooms but was combined into one. Could revert back to two bedrooms for a four bedroom house.

Contact Tom Auterman at auterman@gmail.com or call/text (248) 387-9864.

1057 La Salle Ave
Waterford, MI 48328
Square Feet:
Lot Size:
50 x 200
For Sale
Property Type:
Year Built:
Const. Type:

Call (248) 387-9864 for more details

Property Location