Rare Seller Finance Deal In Kokomo Indiana

 Deal Overview: 3 Properties | 9 Units 

• Purchase Price: $450,000
• Remarkable Seller Financing: Only 17.8% Down Payment ($80,000)
• Seller-Carried Loan: $370,000 at 4% Simple Interest
• 7-Year Balloon with Payments Based on a 12-Year Term
• Monthly P&I Payment: Approximately $3,240
• Currently Cashflowing $5,800 per Month
• Performance Guarantee: Default after 15 days late, buyer deeds properties back to seller after 60 days missed payment
• Hassle-Free Payments: Managed by a Reliable 3rd Party Loan Servicing Company
• Closing at Meridian Title in Kokomo for Added Convenience

 Properties Showcase:

https://drive.google.com/drive/folders/1XbTx-PSkmO4beSXwAmBMrBjStizIta55?usp=sharing

 Numbers Breakdown:

• Current Combined Rents: $5,800 Monthly Gross Income
• Potential Market Rents: Easily $8,000/Month
• Net Cashflow: Approximately $2,760/Month ($33,120 Annual noi )
• ROI Calculation: 24% based on $138,200 All-In Costs
• Attractive ARV: $680,000 with a conservative rental maintenance and expenses estimate
• Remaining principal balance will be approximately 
• only $201,500 at the end of year 7

 Minor Renovations 

• Basic cosmetic TLC for the units 

 Property Details:

• 709 N Wabash Ave: 2 Duplexes on One Parcel, 4 Units
• Upgraded Electrical and Roof, New Appliances
• Market Rents: $875, All Units Occupied at 675, 675, 700, 775
• Solid Roofs, Baseboard Heat, 2018 HWHs, 2018 Electrical and Plumbing Work
• 625 W Defenbaugh St: Single Level Triplex, 3 Units
• Diverse Rent: $625, $675, and $450/Month
• Roof in Good Condition, Minor Shingle Repair Needed
• Two Units with Baseboard Heat, Newer Furnaces, and Good HWHs
• 812 N Courtland Ave: Duplex with Upside Potential, 2 Units
• Rented 3/1 Unit at $600/Month (Market Rent: $1,300)
• Upper 1/1 Unit at $625/Month, Garage Decking for Additional Rental
• Roof in Good Condition, Minor Shingle Repair Needed
• Recent Upgrades: 2020 Furnace, 2020 Plumbing & 2018 Electrical Work

 LOCAL MARKET DEMAND

• StarPlus Energy is investing $2.5 billion in a new lithium-ion battery plant in Kokomo, Indiana. The plant will be located at the city's 1st multi-tenant industrial park and is expected to employ 1,400 people by 2027 [1].
• Stellantis and Samsung SDI have announced Kokomo, Indiana, as the site for the second US StarPlus Energy gigafactory. This new plant will further strengthen the city's position in the electric vehicle (EV) industry, bringing jobs and economic opportunities to the region [2].
• The new battery plant will encompass the entirety of the land designated for the industrial park, totaling 142 acres adjacent to Indiana 931, just south of East 300 [3].
• The EV plants in Kokomo are expected to bring 3,000 jobs, posing both opportunities and challenges for the local economy. The city and Howard County are actively working to address housing needs for the influx of workers [4].
• The Indiana Economic Development Corporation (IEDC) has purchased 90 acres of land near the Stellantis Kokomo Engine Plant for future EV developments, adding to the city's expanding footprint in the electric vehicle sector [5].
• The $2.5 billion electric vehicle battery plant, spanning 3.3 million square feet, will be situated at the city's new industrial park at 2644 N. 50 East, southeast of Kokomo [6].

 This exclusive deal projects a robust 21.3% ROI on 450k. You also recover Your entire down payment & closing cost within the 1st 12th months of 8k rents. Strong potential for increased market rents, and strategically located properties with various value-adding opportunities. Don't miss out on this lucrative real estate acquisition !