Fix and Flip Profit Potential Estimate:
- ARV (After Repair Value): $400,000
- Purchase Price: $220,000
- Repair Estimate: $50,000 – $75,000 (conservative)
- Closing and Carrying Costs (10%): $40,000
- Profit Potential: $65,000 – $90,000
Highlights:
- Large Deck
- Sits on top of a mountain
- 20 beautiful acres
- Trout stream runs through lower section of the property
Photos Link:
*GIS Map and Floor Plans Included
https://photos.app.goo.gl/jEZ1BQMyHGweFwnA8
Repair Estimates:
Total Estimated Repair Range: $38,000-$50,000
First Estimate:
https://docs.google.com/spreadsheets/d/1UyiB1y1XAiqYBrcXnMt_yl_FETvDsx5zrOkcejdZ5Hk/edit?usp=sharing
Second Estimate:
https://drive.google.com/file/d/1fwxW7tKJj-tGXibqXAO8kQTILaF8eZHb/view?usp=sharing
Property Details:
- Beds: 2
- Baths: 1
- Square Footage: 1422 SF
- Lot Size: 20 acres
- Year Built: 1980’s
- Zoning: Residential
- Stories: 2
- Heat: Electric, converted from oil heat roughly 10 years ago
- Electric: 100 amp box, romex wiring
- Plumbing: copper, PVC, some pex
- Water: Well – 750 feet deep
- Sewer: Private septic, last serviced 2020, the person that serviced it tested the bacteria and said it had the best kind of bacteria and it looked fantastic
- Roof: Main roof 8-10 years old, Den space is 20-25 years old, breezeway is 20-25; Den room and breezeway both would benefit from being replaced
- Foundation: Block, no notable issues identified, very level home
- Windows: one newer replacement, remainder are older wood frame with storm windows in good shape
- Water Heater: Electric, replaced 3 years ago
- Garage: N/A
- Features: Fireplace in main living room as well as den, large deck, skylight windows
- Flooring: carpet/vinyl tile, all could benefit from being replaced
- Flood Zone: No
- Mold Noted: No
- Water Damage: None in main house or den, some water damage noted in breezeway
- Water in Basement: No
- Taxes: $1000/year
- *Trailer can be removed prior to sale by current tenant or it can be purchased from the current tenant who owns the trailer
- There is a neighboring property that has a garage and camper stored at the end of the shared lane that leads to the house. It is understood that this property owner only uses the land on occasion during hunting season.
Comparable Sales/CMA:
*we recommend any potential investor do their own due diligence and use these as a point of reference only
ARV (After Repair Value) Comp:
https://www.zillow.com/homedetails/897-Thompson-Hollow-Rd-Honey-Grove-PA-17035/233179456_zpid/
4 bed, 2 bath, 700 sqft, 35 acre lot, 0.5 mile from subject property
Sold for $400k on 9/27/24, DOM (days on market): 50 days
PPSF (Price Per Square Foot): $569 – – – – PPA (Price Per Acre): $11,428
_______________
Pending ARV (After Repair Value) Comp:
https://www.zillow.com/homedetails/1245-Thompson-Hollow-Ln-Honey-Grove-PA-17035/447890341_zpid/
3 bed 2 bath, 1792 sqft, 20 acre lot, .7 mile from subject property
Pending at $399k as of 05/05/25
PPSF (Price Per Square Foot): $223 – – – – PPA (Price Per Acre): $19,950
_______________
More Acreage, As-Is Condition Comp:
https://www.zillow.com/homedetails/98-Schwandt-Ln-Honey-Grove-PA-17035/233179807_zpid/
1 bed, 1 bath, 900 sqft, 50 acre acre lot, 4.6 miles from subject property
Sold for $518k on 9/13/24, DOM (days on market): N/A
PPSF (Price Per Square Foot): $524 – – – – PPA (Price Per Acre): $10,360
_______________
More Acreage, ARV (After Repair Value) Comp:
https://www.zillow.com/homedetails/233-Ox-Bow-Rd-Honey-Grove-PA-17035/347615883_zpid/
2 bed, 1 bath, 1056 sqft, 52 acre lot, 6.6 miles from subject property
Sold for $654k on 8/9/24, DOM (days on market): NA
PPSF (Price Per Square Foot): $619 – – – – PPA (Price Per Acre): $12,576
ARV (After Repair Value) Estimate:
PPSF Estimate: $300
Subject Property Sqft: 1422
ARV Estimate: $426,600 – based on two comps on the same road – $400,000 conservative
Town Overview:
Honey Grove, Pennsylvania, is a serene rural community nestled in Juniata County, offering picturesque landscapes and a tranquil lifestyle. Its proximity to Tuscarora State Forest and state game lands provides ample opportunities for outdoor recreation, making it an ideal location for nature enthusiasts and those seeking a peaceful retreat. The town’s affordability, coupled with its strong sense of community, makes it an attractive option for homebuyers looking for a quiet, country setting.
- Economic/Jobs: Honey Grove, Pennsylvania, features an economy predominantly driven by manufacturing (30.8%), construction (15.0%), and agriculture-related industries (13.3%), with a workforce heavily engaged in production, transportation, and material moving occupations (44.4%) . The median household income is approximately $46,635, and the area anticipates a future job growth rate of 34.3% .
- Education: Honey Grove, Pennsylvania, is served by the Juniata County School District, which includes Lack-Tuscarora Elementary School located within the community, while middle and high school students attend schools in nearby towns such as Tuscarora Junior High School and Juniata High School.
- Lifestyle & Amenities: The area boasts access to natural attractions like Tuscarora State Forest and nearby parks such as Fowlers Hollow and Colonel Denning State Parks, providing opportunities for hiking, fishing, and camping. While the town offers a quiet setting, residents can enjoy local events and amenities in the surrounding areas, contributing to its charm and livability.
- Transport Links: Honey Grove, Pennsylvania, is accessible via Pennsylvania Routes 75 and 850, and residents benefit from local bus services provided by the Juniata Valley Transportation Authority (JVTA), which connects the community to nearby towns such as Lewistown and State College. Additionally, the area hosts several small trucking companies, including CJM Trucking LLC and Parson Trucking, supporting regional freight and logistics operations
For more details on Honey Grove’s attractions and local resources, visit:
Contact Us to Schedule a Walkthrough:
The Melito & Koch Team
- Devin Bowersox Direct Line: (814) 787-0267
- Email: devin@melitoandkoch.com
- Website: melitoandkoch.com
- Facebook: The Melito & Koch Team
Disclosures:
- ORAL CONSUMER NOTICE:
- The Real Estate Law requires that I provide you with a written notice that describes the various business relationship choices that you may have with a real estate licensee. Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information you give me at this time is not considered to be confidential, and any information you give me will not be considered confidential unless and until you and I enter into a business relationship. At our first meeting I will provide you with a written consumer notice which explains those business relationships and my corresponding duties to you.
- HOLD HARMLESS ACKNOWLEDGEMENT:
- The information contained in this email, including attachments, is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, please notify the sender immediately and delete this email. Real estate investment carries inherent risk, and this email does not constitute legal or financial advice. While I strive to provide accurate and up-to-date information, I make no warranties regarding the correctness of the data or the viability of the investment strategies discussed. By using the information provided, you agree to hold harmless The Morrow Wargo Group, Realty ONE Group Supreme, or any other entity related to our relationship- for any reliance on the content of this correspondence. Investment decisions should be made based on your own due diligence and consultation with financial and legal advisors. As a real estate agent, I provide services to assist in purchasing properties and analyzing data; however, the ultimate responsibility for investment decisions lies with the investor.
- DUE DILIGENCE:
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.