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Analysis

123 Wallaby Way
King of Prussia, PA, 19406
2,203 sq ft. | 3 Bed | 3 Bath

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What does this grade mean?


Average! Our HomeGrade Analysis has determined that this home
should fall in the middle 33% of the price range provided, as-is, and
barring any undisclosed or undiscovered issues, but without any
updates, you might have to spend a bit of time and money after the
sale updating it to your liking. The items in this analysis will help you
understand potential risks with the property, what updates you might
have to make in the future and associated costs, and what you might
be able to negotiate off the asking price!

Public Record

Total Assessment Value: $217,000

Land Value: $23,500

Improvement Value: $5,000

Last Sold Date: 2/29/2020

Last Sale Price: $276,500

Last Reported Real Estate Tax: $5,235

$310,000
$350,000
High Value
$275,000
Low Value

*Home value is based on comparable properties, some of which are included below, and may not reflect recent and/or rapid changes in market value due to COVID-19 or similar events.

Outside Storage

Outdoor
Entertainment Space
Septic System
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Roof

Windows

Flooring
Finished Basement
*No Open Permits Found*
Strengths
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Strengths

You might like this home for your own reasons, but these are your home's top features that we identified will have the most commercial appeal to other buyers in your area by value and happiness, potentially causing some competition for the property.

Strength 1: Outdoor Storage

Highly underrated, a quality shed or barn will provide you with extra storage or recreation space, allowing you to free up areas in your home for more comfortable living. Also overlooked, the cost to build one yourself is almost always higher than the "added value" to the property list price, so you come out ahead finding a property with one already included.

Project Cost: $1,500-$10,000

Owner Happiness: 
 

Strength 2: Outdoor Entertainment

A patio or deck in good condition is one of the
best features you can look for when buying a
home because it adds living space without
adding proportionately to the cost. If a deck or
patio is definitely something you want your
home to include, it will certainly be more cost
effective to find a property that already has one
like this!

Project Cost: $10-$40 per sq. ft. 

Owner Happiness: 
 
Weaknesses
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Weaknesses

Weaknesses are the areas on the home we have identified as
potential problems for you in the near future, although maybe not
immediate. If you decide to make an offer, be sure to address each
one of these areas (and of course all the threats!) with a licensed
inspector before you close, and make sure you are comfortable with
the current condition and upcoming expenses,
or negotiate for appropriate repairs.

Weakness 1: Roof

Why is this a problem?


To ensure the structural integrity of the home, a sound roof is essential. If any part of the roof is
nearing its lifespan, repairs can be costly in fairly short order. Depending on the extent of wear, roof
leaks and failures can lead to more widespread mold issues in the home.

Project Cost: $9,126

What should you do about it?

While it may not be ready for a full replacement just yet, it's probably close enough for concern and
may have minor failures that can lead to bigger issues down the road. Have 3-5 licensed
professionals in your area provide you with a free assessment and quote for repairs to ensure you are paying a fair market price, and get it upgraded as soon as possible. 

Weakness 2: Windows

Why is this a problem?

Along with proper insulation, high quality windows ensure a home maintains energy efficiency and
comfort in addition to home security. 

Project Cost: $500 per window

What should you do about it?

Full window replacement may not be necessary if all of the windows are water tight, rot free, and
function properly, including smooth opening and closing with a secure lock. While you definitely want
newer, energy efficient windows, they aren't vital for your comfort and safety if in proper working order.
Inspect each window carefully to identify any that might have failures like broken seals, broken locks,
rot, or air leaks and replace any windows found faulty. Replacing weatherstripping, repairing cracked glazing, and updating locks is also a cost effective way to update the rest of the windows without undertaking an expensive project.

Weakness 3: Flooring - Overall

Why is this a problem?

Replacing and updating flooring can be very costly and invasive. In a home where nail holes, cracks,
deep set-in stains, smells, and scratches are present in most of the existing flooring, full replacement
or expensive repairs will likely be the only way to correct it. 

Project Cost: $1,000 per room

What should you do about it?

You probably want to update the floors to your liking, but if you plan on moving anytime soon, sticking with high ROI options like hardwood, tile and luxury vinyl are always safe bets and look great. 

Opportunities
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Opportunity

Our featured "Opportunity" is an area we identified as great bang for
your buck, meaning the seller has already invested the time and
money for you, and you get to reap the rewards upon moving in.
While not always the most glamorous, these items carry a high price
tag and low return on investment financially, making it all the better
for you that it has already been taken care of.

Finished Basement

A fully finished basement area provides a great recreation space and is a versatile room that either caters to the family or makes for a great man cave or she-shed. Typically not counted in the square footage or valued nearly as high as above ground living space, finished basements provide a significant value over comparable properties without one.

Project Cost:
~$10,500 for 300 sq ft.

Owner Happiness: 
 
Threats
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Threats

Unfortunately these might cause you to lose some sleep. Threats that
have been identified for this home all come with the potential to "fail" an
inspection or drastically hurt your ability to close without a resolution. Our
tips are intended to help you avoid falling into the "as-is" designation, and
remove these threats before they become the problem.

Threat 1: Older Septic System

Why is this a problem?

Older septic tanks or cesspools present a real problem since the risk for burst drain pipes and sewage leakage is significantly higher than homes hooked up to city sewer lines. In fact, if the system is old enough and shows any sign of wearing down, many mortgage lenders will require a new system or a switch to city sewer (if available) be made prior to approval even if your system can pass an inspection.

Project Cost: ~$9,850 New Septic | ~$8,300 City Sewer

Why this amount?

Average cost for a 3 bedroom home septic replacement or city sewer hookup.

What should you do about it?

Ask for a history of records that show the system has been routinely pumped out and hire a licensed
septic professional to test the system for any possible failures or signs of significant wear and tear. If
the septic fails the inspection for any reason, it almost always requires a full replacement (or switch over to city sewer if available), and if that isn’t financially possible, you could face a tough
decision and a big expense.

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