Overview
Southport single family priced at $125K against sold comps averaging ~$170K. At $92/sq ft you’re acquiring at the floor of a market where unrenovated product has sold at $93/sq ft and renovated product is closing at $205/sq ft — a $112/sq ft spread that tells the whole renovation story. Roof needs immediate replacement and HVAC hasn’t been serviced in 2+ years — price accordingly in your rehab budget. Vacant at closing, no occupancy delays.
Comp Avg (Sold): ~$170,000 | For Sale Avg: ~$305,000
Rent Avg: ~$2,088/mo | Gross Yield at Ask: ~20%
Details
Type: Single Family Residence
Bedrooms / Baths: 3 bed / 1 bath
Living Area: 1,352 sq ft
Year Built: 1968
Lot Size: 0.34 acres
Utilities: City Water & Septic Tank
Occupancy at Closing: Vacant
Closing Date: June 19, 2026
Closing Attorney: Atlas Orange
Condition
- Roof: 20+ years old — needs immediate replacement
- HVAC: 12 years old, not serviced in at least 2 years — still operational
Comparable Sales
6067 Bethel Rd SE — 1,344 sq ft — $125,000 ($93/sq ft) — Sold Jun 2025, unrenovated; now renovated and pending at $290,000
4785 Oakview Dr SE — 1,051 sq ft — $215,000 ($205/sq ft) — Sold
Comp Average: ~$170,000 (~$149/sq ft)
Our Price: $125,000 ($92/sq ft)
Your Spread: ~$45,000
At $92/sq ft you’re buying at the floor of a market where the unrenovated-to-renovated spread is $112/sq ft. The Bethel Rd comp bought at the same price point, renovated, and is now pending at $290K. Factor roof replacement and HVAC service into your budget — the margin still holds for a full rehab flip or a strong cash-flow hold at ~20% gross yield.
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 and 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 and 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.