Description

Offering a large townhouse. Property has been updated/painted throughout from top to bottom, with a brand new kitchen and brand new gas water heater. Note: carpets need to be replaced. I will either provide a $3,000 credit, or can install carpets prior to close, at buyer’s discretion. Insurance is $432/yr (actual).

Comparable Property: 68 S. 6th (3 blocks up the street), 3 bedroom, 1 bath, 1484 sq. ft. (smaller home), sold in March 2007 for $128K.

For investors: this property has rented in the past, before renovations, for $1300/mo. through section 8 as a 4/5 bedroom voucher home. The Housing Authority has since accepted rent raises, so the home would rent for higher than $1300.

I can provide financing assistance to a buyer with good credit to structure a no money down deal. I am also willing to structure a rent-to-own deal. See example scenarios below.

No Money Down Cashflow Scenario (EXAMPLE ONLY):
Purchase Price, $126,900, rented at $1300/mo.
80% 1st Mortgage, 30 year fixed at 7.0%:, $675/mo. payment
20% Seller Finance, interest only at 8.0%: $169/mo. payment
Taxes/Insurance: $162/mo.
Cashflow: $294/mo.

Rent-To-Own Scenario (EXAMPLE ONLY):
$126,900 purchase price.
1% ($1269) non-refundable deposit to lock in purchase price for 1 year
$1300/mo. rent., 1 year lease/purchase option, with $500/mo. credit toward purchase price. After 1 year, buyer has $7,269 credited toward purchase price, with balance due of $119,631 at closing.

All serious offers will be entertained.

I will guarantee a 3% commission to a buyer’s agent/broker.

Note to buyers: the scenarios presented are examples only, and do not constitute a contractual offer. Seller reserves the right to change or withdraw any offers contained herein until or unless a contractually binding agreement of sale is executed.

Features

Carpeted Floors, Gas Range,