📍 Address: 2845 McKoon Ave, Niagara Falls, NY 14305

🏠 Property Details:

2 Beds, 1 Bath
948 sqft
Great condition – No major rehab needed, just minor TLC and cosmetic upgrades to make it rent-ready

💲 Deal Overview:

Total Purchase Price: $99,000
Down Payment: $17,000
Subject-To Mortgage: $58,000 @ 2.67% Interest Rate
Seller Financing Terms: $400/month payments to the seller for 5 years
PITI Payment: $501.00/month

📈 Investment Potential:

Long-Term Rental: Expected rent of $1,244/month, providing consistent cash flow.
Student Housing: Rent by the room – Two rooms rented at $750/month each = $1,500/month.
Short-Term Rental (Airbnb): Estimated income of $75/day, averaging 70% occupancy = $1,575/month gross income.

💰 Numbers Breakdown & Cash-on-Cash Return: Initial Investment:

Down Payment: $17,000
Cosmetic/TLC Repairs: $5,000
Total Initial Investment: $22,000

1️⃣ Long-Term Rental:

Gross Rent: $1,244/month
PITI: $501/month
Seller Financing: $400/month
Cash Flow: $343/month
Annual Cash Flow: $4,116
Cash-on-Cash Return: 18.7%

2️⃣ Student Housing (Per Room Rental):

Gross Rent: $1,500/month
PITI: $501/month
Seller Financing: $400/month
Cash Flow: $599/month
Annual Cash Flow: $7,188
Cash-on-Cash Return: 32.7%

3️⃣ Short-Term Rental (Airbnb):

Gross Income: $1,575/month (at 70% occupancy)
Estimated Expenses (Management, Cleaning, etc.): $400/month
Net Income: $775/month
Annual Cash Flow: $9,300
Cash-on-Cash Return: 42.3%

📊 Comparable Sales:

2138 North Ave, Niagara Falls, NY 14305: 3 bed, 2 bath, 1,112 sqft - Sold for $138,000 on 09/12/2024.
4307 Crescent Dr, Niagara Falls, NY 14305: 3 bed, 1 bath, 1,140 sqft - Sold for $152,000 on 10/31/2024.
4213 Deveaux St, Niagara Falls, NY 14305: 2 bed, 1 bath, 1,357 sqft - Sold for $175,000 on 08/23/2024.
3007 17th St, Niagara Falls, NY 14305: 4 bed, 2 bath, 1,536 sqft - Sold for $107,000 on 10/18/2024.
2861 Macklem Ave, Niagara Falls, NY 14305: 3 bed, 1 bath, 1,228 sqft - Sold for $165,000 on 08/19/2024.

🔑 Why This Deal? ✅ Extremely Low Interest Rate: Lock in a 2.67% rate and maximize cash flow. ✅ Minimal Upgrades Needed: Quick cosmetic fixes make this an easy rental or flip. ✅ Prime Location: Close to Niagara Falls and Niagara University, with great rental and STR potential. ✅ Multiple Exit Strategies: Long-term rental, student housing, or Airbnb – the options are endless!

📞 For More Information or to Submit an Offer: 📲 845-238-4717
📧 teeshan@option-offers.com