219 N Crosby St for rent in Fremont, NE
This house is not for rent but rent-to-own at $10,000 down and $995 per month or for sale at $69,900. Major Fixer Upper. Sold As-Is, Where is. Will not go for conventional or FHA/VA funding. Timing is everything and we are officially not having time to deal with this right now and are offering it for sale. If we can't sell it, we will remodel it, so yes this price is firm. We are willing to carryback 20% of the sales price with 12 months of 0% interest and 10% interest after that, if it helps out a newer investor. I personally don't think it is that bad of a flip or rental, however, the issue is the flood zone regulations and how much you can spend on the remodel per calendar year. So this might be a great first time flip or first time rental for someone doing all the work themselves and spread it out into this year and next year. This house was purchased as a flood damaged house in April of 2022. The flood apparently happened in 2019 and flooded the entire basement. Then the house was foreclosed on and we bought it from the bank. Well, apparently there are a lot of rules with remodeling a house in the flood zone and it is a lot of red tape. We have been told you can only spend something like $11,300 on remodeling costs which is half of the 2019 Improvement value unless you hire an appraiser to complete a retrospective appraisal for the improvement value in 2019 and if that comes in higher then you can spend more on the remodel. So if that sounds like a bunch of work, don't bother even going and looking at this house or you will spend months going in circles. If that hasn't scared you off and you want some adventure while you are earning that sweat equity, please private message me for details. This is the basics of the house: Address 219 N. Crosby St., Fremont, NE. Lot is locate in a flood zone. Year built: 1910. 1,134 sq. ft., 2 bed/1.5 bath, basement and crawl space. Needs new roof, new furnace and panel (assuming they are damaged but never turned on the power to verify), chimney needs tuckpointing, garage needs roof and straightened/one side raised. Needs new kitchen and bathroom and lots of misc. Repairs.
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