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3118 S Ritchey

3 Beds / 1 Baths • 2,000 SqFt
Available
Offer Submission Deadline
  • Single Family House
  • 3
  • 1
  • 1895
  • 2000
  • Detached Garage

Description

3118 S Ritchey Rd – Medical Lake, WA 99022

~2,000 SqFt | Beds/Baths TBD → Rebuild to Custom 4/2+

MY APOLOGIES FOR NOT UPDATING ALL THE INFO IN THE LAST EMAIL

Asking Price: $160,000

ARV: $500,000 – $600,000

3118 S Ritchey Rd – Medical Lake, WA 99022 | ~2,000 SqFt | Structure → Rebuild / Replacement Opportunity

New Target Price: $160,000Seller Position: Open to reviewing any strong cash offerPhotos:

https://drive.google.com/drive/folders/1njBgjou4ZOBWxdmdb0l7ihfk_ysIbKEo

⚠️ IMPORTANT UPDATE – PLEASE READ

After additional due diligence and an investor walkthrough with an inspector, we uncovered significant foundation concerns affecting the addition. The inspection was done with buyer as walkthrough. He did not order a traditional inspection report so we do not have that. What he did find is that the addition to the home was build on concrete deck blocks and piers going two stories up so that is not great.

Because of this new information, the seller has adjusted expectations and pricing and is now focused on getting real offers on the table rather than holding out for a specific number. 👉 They want to review ANY and ALL serious cash offers —even if they are below the $160K target— so they can decide how they want to move forward.
If we cannot secure an off-market buyer, the likely next step will be listing on the MLS and waiting it out. Before going that route, they asked us to make one final push to our investor network at a reduced price.Investment Reality / Paths Forward:

Based on the foundation discovery and overall condition, viable strategies now include:

  • Removing the addition and restoring the original smaller farmhouse
  • Rebuilding or placing a replacement structure on the acreage
  • Long-term land/value play in a desirable Medical Lake area

TO SEE PROPERTY OR MAKE AN OFFER PLEASE REPLY TO THIS

EMAIL OR CALL/TEXT ME AT

(509) 998-5241

deals@backyardhomebuyers.com

Cody Cressy

Owner and Disposition Manager

Estimated Spread

  • ARV $600,000
  • Price $160,000
  • Spread $440,000

Cody Cressey

Phone (509) 998-5241
Email codycressey@gmail.com
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