“Subject To” Rental With $650 / month cash flow 20k buys it w/ mature, 3.25% existing mortgage! Sold

  • $150,000
  • 4 beds
  • 2.5 baths
  • 1890 sqft

This is a pre-foreclosure where owner is allowing investor to take over existing mortgage with favorable terms:

Balance $129,500 +/-  Arrears: $10,000 +/-  Payment: 898 PITI Rate: 3.25% Maturity: 11 years into 30 year term!! 

The property needs $22,000 in repairs to be rent ready.  This is based on local contractor bid as of 4/24/17.  You may be able to do it cheaper.

Market rent is $1,550 Creating $650 / month cash flow.

Cash on Cash Return:  Total cash needed to take down project $42,000, Annual return $7800= 19% COC return

We do not have great pictures of this property yet, mostly just of damaged areas.  More to follow.

BUYER TO VERIFY ALL NO WARRANTEE IMPLIED BY FIT PRO INVESTMENTS

Price:
$150,000
Address:
6703 Mary Todd Dr
San Antonio, TX 78240
Square Feet:
1890
Lot Size:
2765
Bedrooms:
4
Bathrooms:
2.5
Terms:
For Sale
Property Type:
Home
Year Built:
1989

Additional Features

Heating: Forced air Cooling: Central Parking: Garage - Attached Lot: 2,765 sqft Interior Features: Bedrooms Beds: 4 Floor size: 1,819 sqft Other Interior Features: Fireplace Room count: 8 Unit count: 1 Structure type: Contemporary Single Family Roof type: Asphalt Exterior material: Brick Last remodel year: 1994 Built in 1989 Stories: 2 Lot: 2,765 sqft Lot width: 70 ft Lot depth: 79 ft Parcel #: 174100060070 Parking: Garage size: 440 Parking: Garage - Attached Utilities: Green Energy Great solar potential Sun Number™: 78 Last sold: Sep 2006 Additional Notes: SPS MORTGAGE the current lender did a drive buy and appraised the property in current condition to be 165k. Comps suggest 170k fixed up Homes in target area are not very updated and selling for 163k-178k along with similar homes listed at 199k updated. Property is located in a highly desired sub division LINCOLN GREEN Rents: 4.19 BKP AVERAGE $1,578 MEDIAN $1,550 $1,285–$2,000 80% $1,285–$1,725 60% GREAT RENT INCOME 650 per month positive cash flow! https://www.rentometer.com/results/bpADVlgCjsA

Call (480) 405-8270 for more details

Property Location

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