This property is currently cash flowing with potential for additional cash flow! If you are a buy and hold investor looking for a property that has positive cash flow then this property is for you!
This property is in a great rental area. Large lot, zoned R-2 with the possibility to build an additional unit for additional cash flow. This cute 3bd/2ba home has a huge back yard. Freshly rehabbed with new paint, carpet, granite countertops throughout and more. Brand new composition roof and new furnace.
Current rent with long term tenant $1,100. Current tenants are willing to allow rent increases of a few hundred dollars. Current tenants are in a 1-year lease until next March.
Assuming the existing loan approximately $100k wrap on the first mortgage. Approximately 25 years left, APR 4.25 and payments approximately $800.
Down Payment: $15,000
Owner Financing: Seller holds 2nd note in the amount of $85,000. Term 3 years with balloon payment at the end of the term with a 5.5% interest rate.
Make an Offer today!
Asking: $200,000.Feel free to make us an offer, willing to negotiate with serious buyers.
Estimated After Repair Value: $210,000