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Medford Single Family Fix and Flip Opportunity (Grant Ave)

A single family home in Medford, MA on Grant Ave is available for a quick sale. The asking price is $449,900. Since homes in Medford of this size are selling for $550,000-$800,000, why is the asking price this low? A big reason is that the home is listed for quick sale and requires an all-cash offer. An intermediary that specializes in selling homes quickly put this house under agreement and now they are looking to get it immediately under contract with an end buyer. They market heavily to developers and require all-cash offers (no financing contingencies). This allows them to sell the properties quickly. Investors benefit from lower prices.

The home has 1,307 square of livable space, 5 rooms, and 1.5 bathrooms. It has 2 bedrooms with a possibility of conversion to 3 bedrooms. There is a 2-car garage.

An investor could develop this as a “fix and flip” or could hold this as a rental property.

Side Exterior


The home is in OK condition but is in need of updates. For example, the kitchen has wood paneling on the walls and old laminate or linoleum flooring.

Converting this home from a 2 BR to a 3 BR would yield a high return on investment. 3 BR homes here sell for a little bit more than 2 BR homes. Adding a dishwasher in the kitchen would also make sense. Renovation of floors, walls, exterior, and other cosmetic updates would make this home much more appealing to buyers.

With a budget of $120k, renovation work would likely transform the appearance of this home and position it competitively in the market for sale. The particular neighborhood in Medford gives this home a desirable location.



18 Pinkert has a smaller lot. It is a 1,304 sq ft home with 6 rooms and 2 bathrooms that sold on 9/30 for $665,000.

38 Grant Ave has 3 bathrooms but sits on a smaller lot. It has 1,368 sq ft of livable space above grade with 8 rooms. It sold for $680,000 on 7/13.

19 Dunbar has only 1 bath. It sold for $640,000 on 9/2. The property is a little bigger but is outdated (like the others).

24 Dudley is bigger (at 1,892 sq ft) and sold for $815,418 on 7/14.

A development plan for this Grant Ave property would feature brand new updates for prospective buyers. This would boost the selling price compared to homes in need of repair, like those just mentioned.

On the higher end of price per square foot:

29 Myrtle St (1,230 sq ft, 6 room, 2 bed, 2 bath) sold on 5/20/22 for $725,000.
25 Spring St (1,119 sq ft, 5 room, 3 bed, 2 bath) sold on 2/25/22 for $801,000.
51 Hamlin Ave (1,284 sq ft, 7 room, 3 bed, 2 bath) sold on 8/24/22 for $755,500.

Income property

This Grant Ave property is in livable condition and could be leased with only minor updates. Converting one room to a third bedroom would especially increase the amount of rent that an owner could charge. The average 3 BR in Medford on the MLS rented for $3,175 compared to $2,614 for 2 BRs over the last 6 months. $3,000/month rent as a 3 bedroom would mean $36,000 in annual gross income for an investor.

Living room fireplace

A financing contingency isn’t an option for this deal; an investor would need to come up with the money by themself or with a partner, or borrow from a hard money lender. Hard money lenders can make commitments on short notice.

Once the property is acquired, the investor can seek conventional mortgage financing through a bank or other mortgage lender. For example, the investor might get an investor loan once the property is tenanted. These steps wouldn’t be necessary in a “flip” scenario. An investor might also form a partnership with a developer in which profits are divided between them.

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