Seller financed 10 unit in New York

Opportunity for heavy cash flow with very low interest rate 3.75%

PURCHASE PRICE 335000 ENTRY FEE 50 K

LOT SIZE 0.37 ACRES

Payments delayed 3 months to get property dialed

Monthly payment PI $1320

30 year amortization 

10 year Ballon payment with option to extend (depending on sellers health)

Property taxes are $956 a month

Insurance is estimated at $150 a month

Property consists of 2 separate buildings one is 8 units the other is 2 units sitting on just 1/3 of an acre

Seven 1bd/1ba units and Three 2bd/1ba units all units average out just over 800sqft a piece 

Property is currently 90% occupied and fairly under renting bringing in $4,300 a month. Owner has always self managed the property and kept up on a lot of the maintenance himself so I am not able to provide an expense sheet or a T-12 since there is not one. All tenants are month-month and rents have not been raised in a very long time for most tenants. Owner has kept great occupancy over the years of owning it. Most of the rental income comes through government veterans programs. 

Property is in need of a little bit of a rehab including roofs that will need replacing in the next couple years max and also 1 unit needs to have the tenant evicted and unit rehabbed as well.

Potential gross rents $6000 minimum

Rentometer values the 1 bds at $675 a month and the 2 bds at $830