Duplex! First time buyer opportunity to own an income property and qualify for soft second mortgage of up to $60,000.The Soft Second Mortgage is due at maturity, change of ownership or non approved cash-out refinance. The Soft Second Mortgage is a 0.0% interest loan with no monthly payments required. Buyer must use listing agent''s preferred lender to apply for soft second mortgage and must meet program guidelines to qualify for assistance. This special financing comes with a conventional 30 year FIXED 1st loan that requires a minimum 3% downpayment of the buyers own funds. As per landlord, Unit1(front) is a 1 bedroom and 1bath rented at $900. Unit2(back) is a 1bedroom and 1bath rented at $1052 on a month to month Section 8 contract. Tenant in unit 2 has may consider moving out at new landlords request and expense.CAP rate of 6.79% at proposed purchase price and GRM 10.65. Estimated net annual operating income of $16,930.
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