10/14/2022
Investors:
Check this property out. Charming 4 bedroom, 2 full bath home in the ELCO School District.
Need some TLC. Has tons of potentials and ready for an amazing makeover…
Full bath, laundry, and a possible 5th bedroom all on main level. Newer roof and electric service. Upper level could easily be converted back into an apartment. Great backyard along with detached one car garage. Property is being sold “as is”
Motivated Seller
Agents:
If you think you may have a buyer, please refer them to our website. As an agent we understand that you rely on commissions. For this property we are willing to pay your 2.5% commission if you find us a qualified buyer. We are looking for a cash buyer for this property. Proof of funds are needed and must be cash deal. NO FHA/NO CONVENTIONAL. Private or Hard Money.
4bd
2ba
2103 sqft
Oil heat radiant
Electrical panel 200amp
Hot water heater needs replaced
Detached garage
Property needs interior work
ELCO School District
ARV: $235-$245k conservatively
218 E Main St, Richland PA sold for $248k and it only had 1222 sq ft.
Rental Opportunity
Current Projected
Month Rent NA 1,950
Total Rental Income NA 1,950
Property tax NA 245
Insurance NA 80
Maintenance NA 80
Heating NA Tenant
Electric NA Tenant
Water NA Tenant
Sewer NA Tenant
Trash NA Tenant
Total Monthly Expense NA 405/mo
Total Operating Income NA 1,545/mo
Monthly Mortgage Payment NA $900/mo
Total Net Income NA $645/mo
Financing
Mortgage 30 year term @ 5.5%
Purchase Price $159,000
20% down payment $31,800
Finance Amount $127,000
Monthly payment $900/mo
Total Projected Equity (with repairs) $76,000
Fix & Flip Opportunity
ARV $235,000
Comps $235-245,000
Asking Price $159,000
Repairs (based on a quote from a contractor) $30,000
Holding cost (based on 10% + 2 points with private lenders) 6,000
Potential profit 46,000
For more information, send us a message.
Terms:
All offers are welcome. Whoever submits the highest and best offer will win the property. Buyer will be required to place a non-refundable $2,500 earnest money deposit written to the title company, and sign an assignment agreement. Buyer pay’s ALL closing costs including both transfer taxes.
DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.
If you are interested in this deal or want to join our buyer’s list, please fill out this form: https://podio.com/webforms/27188126/2090316
Disclaimer: This company makes no warranty or representation about the content of this post. It is your responsibility to independently confirm the accuracy and competencies. Any projections, opinions, or assumptions used are for example only and do not represent the current or future performance of this property.
