🔥 Burlington, NC. Single Family. 3 bed / 1 bath + bonus loft + extra bedroom. 1,200 sq ft on 0.2 acres. Comps averaging $225K — priced at $120K. That’s $105K below market before your rehab math. 🤝
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💰 Asking: $120K | Comp Average: ~$225K | 🔥 Spread: ~$105K
| Type | Single Family Residence |
| Bedrooms / Baths | 3 bed / 1 bath + bonus loft + extra bedroom (not in sq ft) |
| Living Area | 1,200 sq ft heated |
| Year Built | 1940 |
| Lot Size | ~0.20 acres |
| Occupancy at Closing | ✅ Vacant at closing |
| Closing Date | April 10, 2026 |
| Closing Attorney | Becton Law Firm |
Condition Notes
✅ Solid layout and bones throughout.
✅ Bonus loft and extra uncounted bedroom give buyers more usable space than the official square footage suggests.
⚠️ Interior needs cosmetic updates throughout — flooring, paint, kitchen, and bath.
⚠️ Roof replacement needed. Light-to-medium rehab scope — no structural red flags reported. Property is sold as-is.
Comparable Sales
| Address | Sq Ft | Sale Price | Price/Sq Ft | Notes |
|---|---|---|---|---|
| 808 Grace Ave, Burlington NC 27217 | 984 | $240,000 | $244/sq ft | Sold — 2 bed/1 bath, same zip, 1939 vintage. Subject has more beds + 216 more sqft. |
| 804 Harris St, Burlington NC 27217 | 1,087 | $235,000 | $216/sq ft | Sold — 3 bed/1 bath, same zip, 1933 vintage. Strong direct match. |
| 871 King St, Burlington NC 27217 | 1,024 | $220,000 | $215/sq ft | Sold — 3 bed/1 bath, same zip, 1958 vintage. Tight match. |
| 1012 Rainey St, Burlington NC 27217 | ~1,050 | $205,000 | ~$195/sq ft | Sold — 3 bed/1 bath, same zip, same vintage corridor. |
| Comp Average (sold) | ~1,036 | ~$225,000 | ~$217/sq ft | Subject is larger than all 4 comps — supports top of range |
| 🏷️ Our Price | 1,200 | $120,000 | $100/sq ft | |
| 💸 Your Spread | ~$105,000 |
💡 All four comps are smaller than the 1,200 sq ft subject. At $217/sq ft average, the subject’s official sqft alone supports a $260K ARV — but the conservative underwrite is $220–$230K to account for the 1-bath limitation and condition. Rehab budget ~$28–35K (cosmetics + roof). Net margin after rehab: ~$65–75K.
Four renovated comps in the same zip — ranging from $205K to $240K — and your subject is larger than every single one. At $100/sq ft you’re buying in at less than half of what the renovated neighborhood supports. Light cosmetic rehab with a roof is the straightforward path to a $65–75K net flip.
⚠️ DISCLAIMER — Please Read Before Submitting an Offer
📋 Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and do not represent the owner.
🚫 Do not contact the Seller directly. Any attempt to contact, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed without our explicit written consent and execution of a joint venture agreement.
🔍 Due Diligence
Buyers are responsible for their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
💰 Offer & Deposit Terms
- $5,000 non-refundable deposit due within 24 hours of signing
- Closing no longer than 30 calendar days
- Buyer pays all closing costs — not included in asking price
- Taxes prorated and split between parties
- $495 transaction fee payable to Bright Home Offer LLC
- Closing through our closing attorney
🏚️ As-Is Terms
Property is offered as-is, where-is, no warranties. By submitting an offer you accept these terms.
- ❌ No repairs or improvements prior to closing
- ❌ No clean-out or clean-up of any kind
- ❌ Property will not be broom clean at closing
🤝 Realtors & Wholesalers
The wholesale price does not include your commission or fee. You may either negotiate your fee directly with your client or adjust the wholesale price upward to account for it. If you’d like to be compensated by us, include those terms in your offer or reach out before submitting.