Mount Morris, MI, Leaseback Opportunity with $8,400 in Pre-Paid Rent

Genesee County, Mount Morris, MI, 48458
Sold
Listed at: September 9th, 2024
Price
$100,000
Sq. Footage
1500
Type
Single-Family
Parking
Attached Garage
Year build
1965
Lot size
0.43 acres
Bedrooms
3
Bathrooms
1
Half Bathrooms
0
Summary

This property is an investment opportunity with a high cap rate and 6 months of prepaid rent. Located near the University of Michigan-Flint and Bishop International Airport, making it an ideal spot for students, professionals, or frequent travelers. With no HOA fees, you can enjoy added flexibility without extra costs.

The home requires some major repairs, presenting a perfect chance to customize and add value. Recent upgrades include a new shower, installed just a year ago, and a concrete flat patio, providing a great space for outdoor relaxation or entertaining.

Asking Price: $100,000
Estimated Market Value: $138,000
Discount: $38,000

Pre-Paid Rent: $7,200
Security Deposit: $1,200

Total Seller Prepaid Rents: $8,400

Immediate Cash Flow: $46,400 (Equity + Pre-Paid Rent)

For additional details about this property Click here 

𝗗𝗜𝗦𝗖𝗟𝗔𝗜𝗠𝗘𝗥: 𝗗𝗢 𝗡𝗢𝗧 𝗖𝗢𝗡𝗧𝗔𝗖𝗧 𝗧𝗛𝗘 𝗢𝗪𝗡𝗘𝗥/𝗦𝗘𝗟𝗟𝗘𝗥 𝗪𝗜𝗧𝗛𝗢𝗨𝗧 𝗢𝗨𝗥 𝗘𝗫𝗣𝗟𝗜𝗖𝗜𝗧 𝗖𝗢𝗡𝗦𝗘𝗡𝗧. 𝗔𝗡𝗬 𝗔𝗧𝗧𝗘𝗠𝗣𝗧𝗦 𝗧𝗢 𝗥𝗘𝗡𝗘𝗚𝗢𝗧𝗜𝗔𝗧𝗘 𝗢𝗥 𝗖𝗢𝗡𝗧𝗔𝗖𝗧 𝗧𝗛𝗘 𝗦𝗘𝗟𝗟𝗘𝗥 𝗪𝗜𝗟𝗟 𝗥𝗘𝗦𝗨𝗟𝗧 𝗜𝗡 𝗟𝗘𝗚𝗔𝗟 𝗔𝗖𝗧𝗜𝗢𝗡

Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Juan Basto

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Disposition manager