๐ก Charming 4-Family Sub-To Investment Opportunity in New Rochelle, NY! ๐ก
๐ Property Details:
- Address: XXX Franklin St., New Rochelle, NY 10805
- Home Type: 4-Family
- ๐ Year Built: 1920
- ๐ Square Feet: 4900 sqft
- ๐ธ Property Taxes & Insurance: $23,448.56 tax year / $5,908.00 Ins.year
- ๐ Layout: 15 Bed / 5 Bath / Large Backyard
- ๐ฆ Last Sale: $725,000 (09/26/2017)
- ๐ Lot Size: 6,534 sqft
- ๐งพ Parcel Number: 551000 1-209-0006
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๐ฐ Financial Highlights: Sub-To / Seller Finance / Hybrid
- ๐ต Entry Price: $125,000
- ๐ธ Closing Costs + TC: 6%-10%
- ๐จ Rehab Needed: $75,000.00 to Maximize Value & Income but is not needed as property is already cash flowing.
- ๐ ARV: $1,650,694
- ๐ต Mtg. Balance: 1st Mtg: $553,300 / 2nd Mtg: $621,000
- % Interest Rate: 1st Mtg: 3.75% / 2nd Mtg: 6.65%
- ๐งพ Loan Term: 1st Mtg: 360 mth’s / 2nd Mtg: 60 mth’s
- ๐ต Seller Financing: $621,000 / 6.6% Rate / Interest Only / 5 Years / $3,415 Payment
- ๐งพ Monthly Payment (PITI): $5,948.33
- ๐ต Monthly Expenses: $4,316
- ๐ธ Monthly Income: (1) LTR: $11,750 (2) Padsplit / Rooms: $16,000
- ๐ต Monthly Profit: $7,500
- ๐ Cap Rate: 36%
๐๏ธ Construction & Materials:
- ๐จ Condition: Good
- ๐ Stories: 3
- ๐ง Exterior: Block / Frame / Siding
- ๐ Garage: None / Street Parking
- ๐งฑ Basement: Finished
- ๐ฅ Fireplace: Yes
- ๐ก๏ธ Heating: Radiator
- โ๏ธ Cooling: Mini's
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Why XXX Franklin Ave is a Great Investment:
๐ผ Investment Potential: With an AVM of $1,650,694 and a low last sale price of $725,000, this property offers significant upside potential. The 1920-built multi-family home has a lot of historical charm that if modernized it would increase its market value by 6 figures.
๐ก Renovator’s Dream: The property provides a blank canvas for renovations and improvements, allowing you to customize and enhance its features. Given the solid structure and classic design, you can create a desirable living space or rental property.
๐ Growth Opportunity: Situated in a well-connected area, New Rochelle, NY, has been experiencing growth in property values. This home is ideal for investors looking to capitalize on this trend and secure a high return on investment.
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Prime Location in New Rochelle, NY:
๐ถ Walkable Neighborhood: Located in a convenient area with access to local amenities, schools, and public transportation. The property is well-positioned to attract tenants or future buyers, making it a smart buy-and-hold investment.
๐ก Residential Appeal: The multi-family home is nestled in a quiet, established neighborhood, offering a great opportunity to create a cozy, welcoming environment for residents.
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๐ Important Notes & Disclaimers
Approaching the seller at any point is prohibited. Anyone who does will be permanently removed from our buyer's list AND black-listed with all other major partners in the area. Further, such contact will be viewed as intentional interference with a contract and may result in legal action being brought against you. We are under contract with the seller of this property and are therefore a PRINCIPAL in the transaction. Buyers are encouraged to perform their own due diligence regarding properties. Information provided is taken from public records and other sources, is provided in good faith, but is not guaranteed to be accurate. After renovated value ("ARV"), estimated repair costs, and other such figures are simply estimates; as such, buyers should conduct their own analysis and diligence regarding all aspects of the property prior to offering/purchasing.
๐ Don’t Miss Out on This Unique Investment Opportunity! ๐
๐ Contact Us Today: 646-530-4012
๐ง Email: Owners@RecoveREHoldings.com
Submit Your Offer and Secure This Deal Before It’s Gone!
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