This 4 bedroom, 2.5 bath house was built in 2005 and has 1,962 square. The owner had it on the market, but has taken it off. He is looking to get $35k and walk away.
The roof was replaced in March 2017, AC was replaced in June 2017, and the fence was replaced about a year ago. The tenants have been in the house for two years and have indicated they would like to remain (lease ends July 2018).
- ARV $190,000
- Note balance at closing ~$132,582 (at 4.5%)
- Monthly PITI $1,034, HOA & alarm system $64 & $27, respectively
- Rent is $1,450 monthly / $17,400 annually
- Monthly NOI $316 monthly / $3,793 yearly
- 7.3% Cap Rate
- Assumption term 24 months
We are told the house needs some foundation repair (we have called Centex for an estimate). This property was put under contract sight unseen. See comps, Realist Report, and more, CLICK HERE.
- Ask price is $35k down, $132,583 assumed note, $167,583
- $1,500 Non-Refundable Deposit & signed agreement to secure contract
- Properties are sold on a ‘first come, first serve’ basis
- Buyer pays standard closing costs incl. title and a new survey, if required