Copy this MLS #: 20181100 and click the link and paste the number into the prompt, and the link will take you to pictures and property profile information from the MLS. Scroll down, click on pictures- (You will be directed away from this page, so watch my video first!)
The only rule in real estate is: when you think you have seen everything something totally new will come up. This property has been for sale since August of last year, but listed at $338,000 it is above the range of properties I typically preview. Only because inventory is so low at this time of year do I expand the price range and start looking up above the $325,000 number that typically defines the top end. And what an odd ball this one proved to be!
It is a church, built in 1989, modern construction, well built, sanctuary, small kitchen two commercial bathrooms, an one separate room that could be used as a bedroom. OK, the problem is the interior would need to be completely remodeled, the kitchen and bathrooms would need to be torn out, new wall and doors added. The remodel could cost more than new construction. The shell is excellent, but the real cost of the building are in the guts, and while there is no issues with the condition, this property is the definition of functional obsolescence. It does not matter how good the condition is, if you can’t use any of the features and want all new amenities, the home is no better than a fixer.
So, what’s it really worth? Well, if you want a church, it is probably looks like it is priced fairly. You certainly could not replace the existing structure for anything near the asking price. However, if what you want is a single family home, and you have to convert this property into a two or three bedroom house, you would need to pay less than $250,000 and even then it would not be home to flip.
Like everything else, we watch and see what a buyer is willing to offer and seller is willing to take. If there is church group or ministry out there looking this might be a great deal, but for your investor or even for a person looking for a single family home, this home probably will not work.