This property currently collects $1,450 a month in total rents.
A mortgage with 10% down would be approximately $950 PITI.
So, thats $545 a month postive cashflow, you recoup your money after 2 years, and it comes with equity! Now, who and WHY would someone pass up on this deal of the year...
This property in need of some minor updating. This 2 flat has happy tenants. Good, happy tenants paying on time. $1,500 in rents! good sized backyard area, but could use some general landscaping. There is a TARGET supercenter under construction just 2 miles away. Repairs needed come to $4,700 (very small handyman stuff. cleanup backyard and landscaping.)
Sold "As-Is"
ARV: $170,000
Realtor comps, and BPO from bank appraiser.
County Report
(This will answer your basic questions about SF, BR, BA, Year Built, Subdivision, etc. Please read this before asking about these items. Also, the appraisal value on this report is almost always significantly below the actual value. The best place to determine the value is the MLS. Thanks!)
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