Property Overview
Only 2.3 months of inventory in this Thornton Zip Code! Grab this quick fix and flip in one of the HOTTEST areas on the front range!
Ready for your next investment project? Check out 11304 Elm Dr in Thornton, a 3 bedroom/2 bathroom Tri-Level with 1384 Sq Ft and 2 car garage!
This property has vaulted ceilings in the living room on the first floor with adjacent kitchen and dining space (with a slider to the back yard). Walk down to the lower level and you have a large family room, laundry closet, full bathroom, and the first bedroom. Up on the third level, you have the other two bedrooms, along with a Jack and Jill full bathroom (hall access and access from one bedroom).
This property needs a little TLC to get to our ARV, yet the bones are looking good. You’ll need to replace all the flooring throughout, although you can salvage some of the carpeted rooms (it’s brand new, recently installed) - we still budgeted to replace it all, along with a fresh coat of paint everywhere, new lighting, bathroom remodels, and a new kitchen. We have also budgeted to add on a new garage door, all new windows, HVAC, and little touch ups on the exterior. After you knock out those items, this will be a gem in the neighborhood - something to add to your rental portfolio or ready for the MLS!
For those seeking recreation and fitness opportunities, there are plenty of pedestrian and bike paths, parks, a gym, ballfields, a pool and pickleball courts nearby.
No HOA here, and taxes in 2023 were $2,821.
Neighborhood: Quiet family oriented neighborhood in Thornton, no HOA, and close to interstate - with easy access to the entire front range!
Video Walkthrough
We’ve got a great fix and flip here! To get to or to surpass our ARV, you’ll need to replace all the windows, garage door, and do a little freshening up for the landscaping. We’ve also budgeted for a full kitchen remodel, overhaul of both bathrooms, all new flooring, everything getting painted, new HVAC unit, and a little extra for fixing up the little bits of imperfections in the siding and molding on the exterior.
Total Budget: $64,832
Finished product will be a well appointed 3 bedroom, 2 bathroom in the fast moving Thornton Market! If following our estimate for the fix scope, you’ll have a property with brand new kitchen, updated bathrooms, AC, new garage door, new flooring, and brand new windows!
No HOA
2.3 Months of Inventory
Closing is scheduled for 11/21/2024.
3 bedrooms, 2 bathrooms, 1,384 sqft
4973 E 111th Place, Thornton, CO 80233 Zillow
Sold for $470,000 on 9/10/24, $5K in concessions to buyer, making sold price actually $465K. Located across the street within .2 miles of subject property. 3 bedrooms, 2 bathrooms. Fresh paint and carpet, clean exterior. Very close specs to subject property. .2 miles from Subject
11294 Forest Drive, Thornton, CO 80233 Zillow
Sold for $490,000 on 4/24/2024, specs and layout are identical to subject. Dated kitchen, updated appliances, ice and clean inside, some other minor updates, yet our subject after fix will be in better condition than this comp. .1 miles from subject.
5329 E 112th Place, Thornton, CO 80233 Zillow
Sold for $489K on 10/15/2024. This property is 500 sq ft larger than subject property. Dated kitchen with older appliances, some newer floors, but this one has a finished basement, which is where approximately 1/2 the sq ft is located. .2 miles from subject.
11337 Forest Dr, Thornton, CO 80233 Zillow
Sold for $405K on 7/30/2024, with $5K in concessions, making sold price $400K. At 937 sq ft, this is 450 sq ft smaller than subject, and it is 2/1. While freshly painted on the inside, all other aspects of property are dated. .1 miles from subject.
