This blog post is a day late, but I was busy finishing 17th Ave and getting it on the market. It turned out BEAUTIFUL! Check back tomorrow to see the before and after pictures of that project! But for now, let’s get down to business for our third Flippin’ Friday! Your first question probably is, “where the heck is Scappoose?” Well it’s a small town located just 30 minutes away from downtown Portland. Now that you know where it is, your second question is probably “why would anyone want a house there?” Well the answer is easy when you look at this listing: http://www.zillow.com/homedetails/26400-NW-Saint-Helens-Rd-Scappoose-OR-97056/53997377_zpid/ you’ll know what I mean!
What an awesome vacation home for someone that lives in Portland! This listing caught my eye because of the price and the fact that it’s literally on the water. You can do a lot to change a house, but you can’t change a location and anytime that you have desirable views, it makes the house more desirable too! This home also has a lot going for it already… It’s got good ‘dock’ appeal, a good location close to the main boardwalk, nice water views, a roof deck and it has cool vaulted ceilings with a spiral staircase inside.
What it’s missing is an interior that compliments the exterior. The kitchen is dated and a lot of the color choices aren’t great, but these are easy fixes! Firstly, clear out that clutter! Update the light fixtures thought and give the whole interior a fresh coat of paint, perhaps a combination of white and light grey. These lighter colors will allow the wood tones in the space to stand out and enhance the natural light to make the home feel larger inside as well. Beyond the paint, the major project for this home would be the kitchen. It’s got the essentials, but those cabinets gotta go! New cabinets, new stone countertops, and stainless steel appliances would make a huge impact. I would love to see the wood floor continued throughout the space so that the flooring is unified… Plus carpet doesn’t seem appropriate on a floating house. Finally, staging this place would help seal the deal. It’s a fairly small home at just over 850 square feet and the furnishings they have now aren’t helping anything. I’d bring in some size appropriate items with clean lines and a pop of color to make the place feel lively. All of these changes should definitely cost less then $10k, which would make your total investment into the home about $80k. Zestimate says it’s worth $111,497 which gives you a decent profit considering the size of the investment BUT I think that with the right changes, it could actually sell for more. Similar homes are selling for $150k within the same docks and other larger homes within the same area can reach upwards of $300k. The target demographic would likely be someone buying it as a second home or as an investment. Either way, selling it fully furnished could help make it stand out to vacationers as a turn-key retreat for someone that wants to escape the city. Or for an investor, this would be a rockin’ vacation rental and buying it furnished would be less work for them. Once again, I have this home saved on my Zillow! Chances are I won’t be flipping a home in Oregon anytime soon, but it would be a fun (and easy) project to do!
MY FLIP TIP: To furnish? Or not to furnish? That is the question! Think about your buyer… If it’s likely going to be a primary home, then furnishing it is a waste of time because everybody has their own stuff. However, if it’s likely not going to be a primary residence… There are a lot of scenarios were furnishing it could be beneficial and even help sell the house!