The subject property consists of two structures (homes). The larger home of the two is a 6 bedroom/4 bath house, 4100+ sq. ft. It was built in 1952, but was fully renovated/rehabbed in 2005 with all systems upgraded/updated and an additional add-on. The majority of the renovation work on the larger home consisted of: a) gutting the basement, adding insulation, re-drywall, and painting; b) new flooring for front half of second basement; c) painting throughout the house; d) new appliances in kitchen; d) carpet cleaning; e) paving the driveway; and f) landscaping.
The smaller unit is situated nicely and will serve well as a rental, mother-in-law suite, or older child’s quarters. It has a washer and dryer hookup, small kitchenette, family space, and an upstairs bedroom/loft. It also has a small enclosed unfinished sunroom overlooking the property. Majority of the work on the smaller home consisted of a) new HVAC; b) drywall repair and painting; c) new bathroom toilet; and d) new outside gutters. The project concluded late 2015 and sold in March. JID earned a ROI of 19.3% (38.6% annualized).