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  • Media,PA Auction Analysis451 Kirk LnMedia, PA 190634 bed • 2 bath • 3277 Sq Ft

Media,PA Auction Analysis451 Kirk LnMedia, PA 190634 bed • 2 bath • 3277 Sq Ft

Property Description: Welcome to this charming 4-bedroom, 2-bath Cape Cod-style home, brimming with character and promise! Nestled on a large, private lot, this property offers a serene setting while maintaining a convenient location close to all your essential needs. Step inside to discover a spacious layout featuring a large vaulted family room and a kitchen addition with a wood stove, perfect for gathering and entertaining. Original features abound, including solid hardwood doors, ornate moulding, built-ins and original hardwood flooring. Cozy up by the charming stone fireplace or explore the partially finished lower level, which includes a pool table and a wood-working shop, as well as additional space ready for your personal touch. The home boasts a two-zone HVAC system, and new hot water heater, ensuring comfort throughout. Outside, you'll find an oversized detached two-car garage with a convenient storage loft—ideal for all your tools and toys. This home is a diamond in the rough, waiting for the right buyer to infuse it with new life. With a bit of TLC, you can transform it into your dream home. Don’t miss the opportunity to make this special property in the Rose Tree Media school district your own!The property is being marketed in partnership with the Moore-Maguire Real Estate Team and is offered for sale via online public auction. A 10% Buyer's Premium will be added to the selling price at auction and will determine the final sale price. This property is being sold AS-IS. Buyer is responsible for any and all fees or permits as they relate to the sale. MLS Number: PADE2074070

Author

We Buy Real Estate
September 12, 2024

Refined ARV Breakdown for 451 Kirk Ln, Media, PA:

  1. Comparable Properties for Sale:

    • 431 Kirk Ln: $632,529, smaller size (2,358 sq ft), but updated features.

    • 410 Highland Ave: $715,000, larger (4,264 sq ft), more bedrooms/baths but lower price/sq ft.

  2. Valuation Trends:

    • Collateral Analytics' estimate: $886,109, showing strong growth (69.4%) since 2019.

    • CoreLogic and Quantarium estimates lower, showing a more conservative outlook.

  3. Lot Size:

    • At 56,628 sq ft, the lot is significantly larger than comparables, adding value.

The estimated rent of $4,429/mo for 451 Kirk Ln aligns well with the higher-end ARV projections, suggesting a rental yield of 4-5% based on an ARV of $1,295,000. Given local market conditions and similar homes in Media, PA, this rent is appropriate for a premium property in a desirable area. Higher-end homes typically rent for $4,000 to $5,000+ per month in the area, particularly when offering amenities like large lots, modern interiors, and proximity to services.

Final ARV:

Range from $850,000 to $1.3M, based on renovations and local trends.

Income:

  • Monthly Rent: $4,429

  • Annual Rent: $4,429 × 12 = $53,148/year

Expenses (Estimates):

  1. Property Taxes: $10,000/year (estimate based on PA averages for a property of this value).

  2. Insurance: $2,000/year.

  3. Maintenance & Repairs: $3,000/year (assuming 1% of property value).

  4. Property Management Fees: $5,315/year (assuming 10% of rent).

  5. Vacancy & Miscellaneous: $2,657/year (5% of rent).

Cash Flow with Mortgage

Assuming a loan for 80% of the ARV ($1,036,000) at a 6% interest rate over 30 years:

  • Monthly Mortgage Payment: $6,216
    (Calculated using a standard mortgage calculator with P&I)

Updated Cash Flow:

  • Net Operating Income (NOI): $30,176/year

  • Annual Mortgage Payment: $6,216 × 12 = $74,592/year

Final Cash Flow:

This would result in negative cash flow. A buyer might need to consider other financing options or higher rental income to break even or profit.