This home features 2 bedrooms, 1 bathroom (recently updated) and a generously sized living room, dining room and updated kitchen. Has newer carpet and paint, newer roof, newer hot water heater and electric panel. This home also has a brand new A/C condenser unit. The retail value of this home is easily $99,900+ once a few updates are completed. We offered a $30,000 discount if you buy the home in “as-is” condition (as-is meaning you would be responsible for getting the home to pass a minimum housing inspection through the city of University City) to the tenant buyer.
The tenant buyer in this house has signed a contract with the purchase price of $69,900
The monthly rent on this property is $800
The projected Cash on Cash Return for this investment w a 30 year fixed loan is: 17.6%
With a projected monthly cash flow of $181
Also this tenant is approved for a rent guarantee meaning the a Turn Key buyer’s rental payments are guaranteed up to $3000 in missing rent