Road 125 KM 12.4 Capa (Moca, Puerto Rico, US - 00676) Built

$389,000
Ideal for Short Term Rental Income

Bengie Rodríguez, Realtor®

Bengie Rodríguez, Lic. C-8268 Bengie Rodríguez, Lic. C-8268 7874222222 (Office) 787-422-2222 (Cell) Request More Info

  • 5 beds / 4 baths / Swimming Pool / 2 Garages (4 cars)
  • Type: Residential
  • Style: 2 Storey
  • Bedrooms: 5
  • Bathrooms: 4
  • Garage: 4-Stalls, Detached
  • Development Level: Built
  • Lot Type: Rectangular
  • Lot Size: 3406 sq. m.
  • Suite: Yes
  • Taxes: $1,778.00 (2018)

Description

Built with Concrete & Blocks this home is composed of 5 bedrooms (4 on the main level; 1 on the lower level), 4 bathrooms (2 on the main level; 1 in the lower level; 1 at swimming pool area), family room, formal living room, foyer, dining room, comfortable kitchen with Island on the main level, 2 terraces with panoramic views, laundry room, home office; gym area; carport for 2 cars on the lower level, with an electric garage door; detached concrete garage, for 2 big pickup trucks and tools, with 2 electric garage doors; multi-level flooring; grand swimming pool (Around $125,000 Investment); pool area with bathroom, gazebo, jacuzzi, kitchen; panoramic view; lot size is approximately 3,406 square meters (according to Segregation Measurement); located on Road 125, Km. 12.4 Int., Capá Ward, Lasalle Sector, Moca, Puerto Rico.

Thank you for considering my listing. It is a beautiful house that has become a “Diamond in the Rough”. I had sold this gorgeous house to my actual clients (then Customers) back in 2018. The house’s beautiful Landscape has been abandoned by them since February 2021 because of job loss. They are going back to the U.S. mainland now in December to their native state with their families.

The landscape is now a mess, even though it is still recoverable. I just contacted some landscapers who will start mowing grass and removing weeds, trimming palm trees and flower plants, pressure-wash the walkways, etc. I will personally oversee the remodeling; I want to help my clients.

Therefore, at this stage, I will only show the house to qualified cash buyers (meaning…Bank checks, not bills) needing no Mortgage at this time, because of Appraiser’s wanted Curb Appeal is not present as of today. The inside of the house is in excellent condition, though, needing only some simple cosmetic repairs, which will also be started after they leave on December 2nd.

All Air Conditioning units (living room, family room, kitchen, 4 bedrooms) are brand new, Inverter Technology units, recently installed; they cool the whole house. There are no leaks in the ceilings and no paint to scratch. It is nicely painted inside. The inside feels “Homey”.

Sales Price: The asking price of $389,000 assumes full recovery of the landscape of the approximately 3,406 square meter lot and the minor repairs; it does not include repainting the outside of the house. Eventually, after the landscape is finished, Phase ll comes in: repainting the house, in a beautiful, more modern color palette. It will then be listed at $400,000.00. My 23 years in this industry, together with my 40 years of remodeling and flipping properties, Real Estate Appraisal Courses, and Comparable Sales in this new Seller’s Market tells me what Price the property will be worth.

The Sales Price is “more than justified”. Materials and labor costs have been continuously rising, due to COVID-19 side-effects in Prices:
• Shortages in building materials
o Aluminum (Security Doors and Windows; Garage Doors)
o Iron (rebars, I-Beams, C-Beams, Poured Concrete, Concrete Blocks, Wood for Molding
o Wood and PVC Panels for Kitchen Cabinets
o Ceramic Tiles; Other (bath Fixtures; Appliances)
• High Increase in Labor Cost of Carpenters and Helpers
o It has doubled, “thanks” to Federal Government Stimulus Money
• Transportation Cost (Big Cargo Containers) has tripled and quadrupled
o Search Google for many, many posts on the topic

All these additional expenses and price increases are being passed down to products and eventually to new home construction. Other reasons affecting (increasing) Home Prices:
• Higher number of Buyers (Demand) thanks to more money (Government Stimulus Money) in people’s hands finally allow families to put a Down Payment and cover Closing Costs at Mortgage Banks
• Shortage in Home Construction and Existing Homes for sale (Supply)
• Construction time of New Homes takes 1-2 years on average:
o Permits, Paperwork, Drafting Blueprints
o Soil Preparation (affected by weather)
o Shortage of Construction Workers
o Waiting Time for materials to arrive (Overseas Logistics)

For these and many more reasons Home Prices have increased dramatically, forcing Buyers to focus on Existing Homes. Therefore, I don’t find any reasons that will bring the price of this Listing down; on the contrary. It only needs “Curb Appeal”.

Please be adverted that Sellers are willing to let it go for $20,000.00 less, for a new, discounted Sales Price of $369,000.00 in an “As Is” condition. You would only need to take care of the Landscape and those other minor details. This discount will not apply once I start spending money on the remodeling.

A Mortgage Financing deal will provoke a HOLD in the Showing; we know Bank Appraisers will love to harm the Value (in the Bank’s favor, of course). All this means is that we are not willing to show the house to Buyers needing a Mortgage. We rather wait for the recovery of this Gem WITHOUT such a discount.

Please call Bengie (787-422-2222) for an appointment ONLY if you are a Cash Buyer (for the moment; soon for Mortgaged Buyers, after remodeling). Thank you.

Attachments

P2#245903433
top
Information is deemed to be correct but not guaranteed.