Debbie
08-03-2006, 02:21 PM
Hi Fambly,
As some of you already know, we are just now selling one of our properties. The sole purpose is to liquide for other RE investments such as purchasing multiple MH, hard money lender, etc.
This is a mirrored side X side duplex, built in 1992 (or 1994). It is now vacant for
For Sale purpose. We are keeping the identical duplex directly across the street which is currently renting for $750 (oldest & favorite tenant) and $850 (newer tenant) per month.
It is located in a very popular Trevi Gardens in Springfield, Illinois. This duplex could easily rent for $925 BUT due to idiotic lenders lending 100% home loans, I strongly recommend renting for $850 per side.
There is no problem with roof/siding/plumbing/electrical/structural.
Utilities are electric and water (paid by tenants). There is no gas line hence no gas bills.
One side is now cosmetically up to date (circa 2006). It is now selling for $84,900.00, including all appliances. All newer floorings, new fenced yard and fresh neutral color paint.
The other side is not cosmetically up to date (circa 1992 or 1994). It is now selling for $79,900 for a quick sale, including all appliances (except washer/dryer). But most newer flooring and fresh white paint.
What is cosmetically up to date I'm referring to? They are: all new doorknobs, light fixtures (indoor/outdoor), etc.
Each side has 2 bedrooms/2 FULL baths, attached 2 1/2 car garage, fenced yard. This duplex is located in a quiet lane (similiar to a cul-de-sac).
Just for MB Fambly members----we will take off 5% of the $164,800. That would be $156,560.
If interested, you can make net monthly profit of approx. $312.15
$1041.60 (based on 100% financing of $156,560, 30 yrs @ 7%)
$276.25 - monthly property taxes
$70.00 - monthly property insurance
_________
$1387.85 - monthly expenses
-$1700.00 - minus monthly rents of $850.00 (850.00 x 2 = $1700)
____________
$312.15 monthly net cashflow
Before I forget, there is HOA for $75.00 per unit, per year.
Anyone interested, let me know. I'll provide pictures.
As some of you already know, we are just now selling one of our properties. The sole purpose is to liquide for other RE investments such as purchasing multiple MH, hard money lender, etc.
This is a mirrored side X side duplex, built in 1992 (or 1994). It is now vacant for
For Sale purpose. We are keeping the identical duplex directly across the street which is currently renting for $750 (oldest & favorite tenant) and $850 (newer tenant) per month.
It is located in a very popular Trevi Gardens in Springfield, Illinois. This duplex could easily rent for $925 BUT due to idiotic lenders lending 100% home loans, I strongly recommend renting for $850 per side.
There is no problem with roof/siding/plumbing/electrical/structural.
Utilities are electric and water (paid by tenants). There is no gas line hence no gas bills.
One side is now cosmetically up to date (circa 2006). It is now selling for $84,900.00, including all appliances. All newer floorings, new fenced yard and fresh neutral color paint.
The other side is not cosmetically up to date (circa 1992 or 1994). It is now selling for $79,900 for a quick sale, including all appliances (except washer/dryer). But most newer flooring and fresh white paint.
What is cosmetically up to date I'm referring to? They are: all new doorknobs, light fixtures (indoor/outdoor), etc.
Each side has 2 bedrooms/2 FULL baths, attached 2 1/2 car garage, fenced yard. This duplex is located in a quiet lane (similiar to a cul-de-sac).
Just for MB Fambly members----we will take off 5% of the $164,800. That would be $156,560.
If interested, you can make net monthly profit of approx. $312.15
$1041.60 (based on 100% financing of $156,560, 30 yrs @ 7%)
$276.25 - monthly property taxes
$70.00 - monthly property insurance
_________
$1387.85 - monthly expenses
-$1700.00 - minus monthly rents of $850.00 (850.00 x 2 = $1700)
____________
$312.15 monthly net cashflow
Before I forget, there is HOA for $75.00 per unit, per year.
Anyone interested, let me know. I'll provide pictures.