1101 Sanders St

Asking $45,000 for a 1,288 square foot property in Bowie that needs a heavy rehab. This isn't a paint and carpet flip, budget the rehab accordingly. Closed sales on comparable 1,100 to 1,400 square foot homes within a mile have landed between $190,000 and $210,000 (max was $260,000) over the past year, and homes that push past 1,700 square feet are clearing $290,000 to $300,000-plus. At a $45,000 basis, that leaves plenty of spread before rehab costs, with room on either side depending on how you finish it out. If you'd rather hold than flip, lease comps in the area show 3 to 4 bedroom homes renting between $1,250 and $1,600 a month, so the numbers pencil as a cash-flow hold too. Buy low, rehab right, exit either way. At this price, with these comps, this is a good deal.