This property is a terrific cash on cash return rental. Low cash down ($6,750), interest only payments, with equity built in. Tenants in place and looking to stay for multiple years. Contact Ron today for more details.
$78,945 balloon due in 5 years
Equity: $96,000 current value – $78,945 = $17,055
Gross Income: $800/mo ($9,600/yr)
Insurance: $29/mo ($343/yr)
Tax: $109/mo, HOA fees: $125/mo, Cleaning/Maintenance: $57/mo
NOI: $505/mo ($5,760/yr)
Interest only debt service: $329/mo ($3,947/yr)
CASH FLOW: $1,813/yr = 27% ROI
Currently rented. No repairs needed.