$81,908Asking price
Works for flippers
Works for landlords
Works for a flipper up to $92,000.
OFFER NOW MICHIGAN, LLC
Kevin Shinohara
No reviews yet
ARV $145,000
The sales behind this value are shown to members.
Great cash-flow opportunity for an investor looking to add a Section 8 rental with minimal cash out of pocket!
Deal Breakdown:
Total Purchase Price: $81,908.79
Existing Mortgage: $74,408.79
Entry Fee (Assignment): $7,500
Cash to Seller: $0
Estimated Rehab: $20,000
Interest Rate: 8.95%
Remaining Term: 26 Years
Monthly PITI: $761.60
Projected Section 8 Rent: $1,560/month
Projected Returns:
Monthly Cash Flow Before Expenses: $798
Cash Needed As-Is: $7,500 + closing costs
Cash Needed With Rehab: $27,500 + closing costs
Projected Cash-on-Cash Return: 17.8% after rehab, assuming 25% operating reserves
Excellent opportunity for a Section 8 investor seeking strong cash flow with low upfront capital.
Figures from the seller unless a line says otherwise. Verify before you close.
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