🪄SUB2 CONTRACT FOR SALE 🪄

Pictures/Videos/Comps: (Click Here)

Starting Price/Fixed Entry Fee: $7k (See below for breakdown)

⬇️ General Property Info ⬇️

○ Property Type: SFH

○ Beds: 3

○ Bath: 2

○ Sqft: 1922

○ Windows: All are wood, decent condition

○ Furnace: 2 years old, works fine with no issues + newer duct work.

○ Hot Water Tank: Unknown age but looks newer

○ Roof: 20 years old, Has a 40 year warranty. No current leaks/issues

○ Electrical: Up to date/newer. No issues and electrical panel looks good

○ Plumbing: 20 years old. No issues/leaks

○ Structural: No Structural issues known, basement was clean.

○ Occupancy: Vacant

⬇️ Numbers & Terms ⬇️ 

○ ARV: $80k-100k (See comps)

○ Rehab Level Estimation: Medium rehab needed - Exterior needs almost no work except paint touch up on foundation and garage. Front porch needs new wood walkway.
Interior will need a light trash out, carpet will need to be ripped up and replaced, some drywall patchwork is needed, need to paint in some of the rooms and overall give the place a facelift.

○ Potential Market Rent(Rentometer): ~$1,323 - $1,434

○ Potential Section 8 Rent (FMR): ~$1,434/month

*This is a Subject 2 deal, buyer will be taking over the sellers current mortgage*

○ PITI: $543.43/m

○ Interest Rate: 8.7%

○ Starting fixed entry fee(Money to seller + Acquisition Fee)= $7k 
+ Closing Costs & Repairs.

○ Balloon: No Balloon

○ Arrears: No arrears

○ Remaining Mortgage: ~$42,770.11

○ Pre Payment Penalty: No

○ Maturity Date: 2037

○ Est COC Return: 20%-25%

○ Access: By Appointment

○ Submit highest and best offers by: 10/17/2024

Please reach out for more information.

Shawn Mendel

📞216-460-2714  |  📧shawn@realestatewizards.net

**Buyers do their own due diligence

*Seller of this property either owns or has equitable contractual interest in the properties marketed

*Seller has exclusively relied upon the information listed within the MLS, County Assessor's office, and Property Tax office to determine all measurements including lot size, square footage, number of bathrooms, number of bedrooms, number of total rooms, zoning, permitted and prohibited uses, construction materials, parking, year of construction, and all other pertinent data relating to the physical improvements and land area of the subject property. Buyer acknowledges and accepts that seller makes no representations and warranties of any kind, whatsoever, as to the actual conditions that may exist within or around the property, and buyer acknowledges that it has conducted its own investigation of these facts, and is purchasing the subject property based upon its own conclusions. Buyer expressly acknowledges that it is purchasing the property in "as is, where is' ' condition.

Real Estate Wizards, LLC