The home at 1408 Morse Street NE sold less than a month ago for $210,000. Now, it’s slated for the auction block at the end of the month.
Neighbors note that the home has been vacant for over 5 years, with nearly all the windows knocked out after a fire in 2007. It’s a bit odd for someone to purchase a home and then immediately try to auction it off, and most folks assumed it would be renovated. In this case, it appears the investor may be looking for an even quicker profit.
The auction is scheduled for Wednesday February 27 at noon.
What do you think it’ll go for at auction?
opening bid is 250,000. Plus a 6% buyers fee. So the cheapest it will go for is 265k. Good luck with that.
Why not just renovate and flip it? It would sell for at least $500K these days, minus the $210K price and $100K renovation, that’s still about $200K in profit. They can’t make even half that at auction.
$40K for just sitting on a place for a month? damn that’s good money