This is a duplex with 3 bedrooms, 2 baths and a 2 car attached garage in EACH UNIT. Assuming there are two possible buyers for this property with one being owner occupied that plans to live in one side and rent the other side and the other being an investor that will rent both sides I'll provide two financial estimates, Owner Occupied: 242,000 Sale price for both units. (Required) ($121,000 X 2 units) 24,200 Down payment 217,800 Financed at 4% for 30 years. 1049.81 Principal and Interest 238.00 Monthly Real estate taxes 100.00 Hazard Insurance est. for owner Occupied 100.00 PMI insurance estimate because equity is 90%, not 80% 30.00 Garbage for both sides ----------- $1507.81 estimated monthly payment 1130.00 Rent income from the other side ------------- $377.81 total payment to live in a 3 bedroom, 2 bath, 2 car attached unit and get into the rental business. (This is what I did and how I got started) Investor purchased. 242,000 Sale price (Required) ($121,000 X 2 units) 48,400 20% down payment 193,600 Amount financed at 5% for 30 years. 1039.29 Principal and Interest Payment 238.00 Real Estate Taxes 75.00 Hazzard Insurance for Rental Property. 30.00 Garbage for both Units -------------- $1382.29 Payment $2260 Monthly Rent 1422 minus monthly payment $877.71 monthly profit X 12 Months $10,532.56 Annual profit / 48,400 Down Payment ------------- 21.76 % return on investment estimates. Questions to think about: Do rents ever go up? Will the Principal and Interest payment ever go up if you don't refinance? Will there be vacancies and repairs? Will the value of the building increase? Does it help reduce Federal and State Income taxes with depreciation and being able to deduct repair expenses? Will all your friends and family members tell horror stories and try to discourage you? Is 20.9 % return better than a bank savings rate? Will the building ever lose 50% of it's value like the stock market did? Each unit has a two car attached garage with openers, underground sprinklers, large deck, two moderate sized bedrooms with large closets on the main floor, one very large bedroom with two closets and a 3/4 bath on the ground level. The laundry room is furnished with a washer and dryer. The property has electronic locks so you never need to carry a key or worry about being locked out. The property has force air heat and central air conditioning. It is located on a quiet 2 block long street. Do NOT send anybody any money for any reason until you have met in person and been inside the property. Owner takes care of mowing and garbage. Tenant pays for Gas, Electricity, Water and takes care of snow removal. per month. Owner provides a washer and dryer.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
