Home Neighborhood Buyers

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Home Neighborhood Buyers
Deal sheet · Pell City, Alabama

409 26th St N

Gut-rehab cottage with the expensive work already done: reframed structure on a new LVL beam, full rewire, full replumb, brand-new HVAC, new windows and exterior doors. Finish materials are staged on site. What’s left is the cheap half.

Front exterior of 409 26th St N, Pell City - cottage in house wrap with full front porch
Price $74,000ARV $230,000 · rehab partially complete
$74,000
Purchase price
$230,000
After-repair value
$242,000
Comp median
The deal

The card, as run

The numbers from the buyer's seat. The one line that has changed since the original underwriting: the rehab. The original scope assumed an $85,000 full gut. The photos below show that scope is already more than half done - see the recut in the next section.

Item
Number
Note
Purchase price
$74,000
Seller has roughly $100-110k into the property - priced below his receipts.
ARV
$230,000
After-repair value from the underwriting card.
Comp median
$242,000
Median of the comp set. The smaller house next door is currently listed at $169,000.
All-in (price + finish rehab)
$119-124k
$74,000 purchase plus $45-50k remaining rehab - Scenario B below. About $121k at the midpoint.
Spread to ARV
$106-111k
$230k ARV minus $119-124k all-in. At the $121k midpoint: $230k ARV leaves ~$109k, a $200k read leaves ~$79k, and even the conservative $180k read (next-door comp) leaves ~$59k. That is the margin story.
The rehab, recut

Two scenarios, one house

The $85,000 on the original card priced a full gut from the studs. Walk the photos: framing is done, the LVL beam is in, wiring and plumbing are run, the HVAC is new, and the sheetrock, insulation, trim, and doors are stacked inside. The remaining scope is finishes. Here is the same deal both ways.

Scenario A · full-gut fallback
$85,000
Full gut-rehab scope as originally underwritten - the worst-case line
  • Total-in at $74,000 $159,000
  • Spread to ARV $71,000
Scenario B · photo-verified recut
$45-50,000
Remaining scope only - structural and MEP already complete. Agent + builder-confirmed path (the listing agent's own number)
  • Insulation install (R-13 staged) $2-3k
  • Sheetrock hang + finish (board staged) $9-13k
  • Kitchen build-out $9-14k
  • Both baths to completion $7-11k
  • Siding (house still in wrap) $8-12k
  • Floors, fixtures, paint, trim-out $9-13k
  • Total-in at $74,000 $119-124k
  • Spread to ARV $106-111k
Recut figures are line-item market estimates for Pell City labor with the staged materials credited. Ranges are honest, not padded: the listing agent's own number plus builder experience lands the finish-only scope on a house this size at $45-50k depending on kitchen and bath spec. Closing and holding costs are not included in either scenario. Walk it before you sign it.
Condition, per the listing agent

Done — and paid for

Reported by the listing agent and visible in the photo set.

Reframed structure with a new LVL beam
10-foot ceilings throughout
Totally rewired - new electrical
Totally replumbed - new plumbing
Brand-new full HVAC system
New windows throughout
New exterior doors and sliding glass door
Both baths part-set: shower pan in, new tub, toilet, and sink on site

Staged on site, ready to hang

Sheetrock for the full house
R-13 insulation batts
Interior trim package
Interior doors
Photo set

Walk it from here

Six frames, unedited: the wrap, the framing, the beam, and the staged material.

What’s left

The finish scope

Everything below is labor-forward work with material either staged or commodity-priced. No surprises hiding in the walls - they’re open.

InsulationR-13 batts are on site. Install labor only.
SheetrockBoard is staged. Hang, tape, mud, sand.
KitchenCabinets, counters, appliances - full build-out.
BathsPan is set; tub, toilet, and sink staged. Surrounds, vanities, trim-out.
SidingHouse is still in wrap. Vinyl or fiber-cement over the wrap.
Floors, fixtures, paintLVP throughout, lights, hardware, final paint.
Move on it

Text about 409 26th St N

Fastest path is a text - it lands directly with the buyer.

Listing side

Listed by Wayne, Keller Williams Trussville. Condition details above come from his walkthrough of the property with the owner.

Shown by appointment. Bring your contractor - the walls are open and the scope is visible.