5009 E Clay Avenue, Fresno, California 93727, Fresno, 93727 - 3 bed, 1 bath
ACTIVE$275,000
5009 E Clay Avenue, Fresno, California 93727
3Beds
1Bath
1,186Sqft
6,720Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Equity Potential: The property is priced at $275,000, which is $60,000 below supporting comparable sales of $330,000, offering immediate equity for a buyer.
Top Cons:
Requires Immediate Renovation: The property needs updates to paint, flooring, kitchen, and bath, indicating it is not move-in ready and requires immediate capital investment for modernization.
Compared to the nearby listings
Price:$275.0K vs avg $428.0K ($-153,000)13%
Size:1,186 sqft vs avg 1,817 sqft6%
Price/sqft:$232 vs avg $24244%
More Insights
Built in 1950 (75 years old).
Condition: Built in 1950, this property requires substantial rehabilitation. The listing explicitly states it needs a 'new paint, flooring, kitchen and bath package,' indicating major interior overhauls are necessary. While it benefits from dual-pane windows and a 2-year-old AC unit, these updates do not negate the significant work required for the core living spaces. The property is marketed as a 'project' for 'sweat equity,' aligning with the 'poor' condition criteria, despite having 'real good bones' which prevents it from being a tear-down.
Year Built
1950
Close
-
List price
$275K
Original List price
$275K
Price/Sqft
$232
HOA
-
Days on market
-
Sold On
-
MLS number
FR25127201
Home ConditionPoor
Features
ViewNeighborhood
About this home
If you want a chance to get into a home on the cheap, to either live in or flip, this is it. At $275,000, this home has 3 bedrooms, 1 bath, Dual Pane windows, with AC the seller says is 2 years old, has a nice living room with eating area and has real good bones. It is a pretty simple fix with new paint, flooring, kitchen and bath package, but $60,000 behind supporting comps at $330,000. The seller says you can pick it up today for $275,000, priced to sell fast. So if you are looking to build a chunk of value In a home with some sweat equity, do not delay because this is the project you have been dreaming of. Simple, easy and quick. Please, cash or conventional purchasers only.
Condition Rating
Poor
Built in 1950, this property requires substantial rehabilitation. The listing explicitly states it needs a 'new paint, flooring, kitchen and bath package,' indicating major interior overhauls are necessary. While it benefits from dual-pane windows and a 2-year-old AC unit, these updates do not negate the significant work required for the core living spaces. The property is marketed as a 'project' for 'sweat equity,' aligning with the 'poor' condition criteria, despite having 'real good bones' which prevents it from being a tear-down.
Pros & Cons
Pros
Significant Equity Potential: The property is priced at $275,000, which is $60,000 below supporting comparable sales of $330,000, offering immediate equity for a buyer.
Ideal for Investors/Flippers: Explicitly marketed as a project for 'sweat equity' and a 'simple, easy and quick' fix, making it attractive for investors or buyers looking to add value.
Newer HVAC System: The air conditioning unit is stated to be only 2 years old, providing a significant and costly upgrade for climate control.
Energy Efficient Windows: Equipped with dual-pane windows, which contribute to better insulation, energy savings, and noise reduction.
Solid Structural Foundation: Described as having 'real good bones,' indicating a sound underlying structure that simplifies cosmetic and interior renovation efforts.
Cons
Requires Immediate Renovation: The property needs updates to paint, flooring, kitchen, and bath, indicating it is not move-in ready and requires immediate capital investment for modernization.
Restricted Financing Options: The seller specifies 'cash or conventional purchasers only,' which significantly limits the potential buyer pool by excluding FHA, VA, and other loan types.
Outdated Features/Layout: Built in 1950 with only one bathroom for three bedrooms, the property likely features an older layout and finishes that require modernization to meet current buyer expectations.