51 Newfound Rd, Leicester, NC
Contract for Dee/Note & Deed of Trust for Sale
Balance Remaining: $140,498.20 (Payments 33-240)
Asking Price for Note: $135,000
Sales Price to Borrower: $169,000
Terms: $13k down, $7k work for credit, $149k financed with 8.5% interest, amortized over 20 year, payments of $1,293.06 P&I, plus tax, insurance, and servicing fee. Serviced with Madison Management.
Collateral: Single-Family Home, 1,344 SF, 3 beds 2 baths, built in 1945, renovated in 2019
Estimated Value of Collateral: $300,000 (see comps below)
NOTE: Online square footage is incorrectly listed as 672, which is the upstairs only.
This borrower purchased the property in October 2019 and has made 32 payments with a good payment history and have made improvements to the property including putting on a new roof, renovating the front porch, and some other improvements. The value of the collateral is at least double what is owed on the notes (see comps below). This may be sold as a contract for deed or we can transfer the deed and sell a note and deed of trust.
Comps:
$312,000
Single Family
28 Brooks Branch Road
Leicester, NC 28748
3 bd • 1 ba • 1,141 sqft
none
MLS #3852634
$295,000
Single Family
351 Dix Creek #2 Road
Leicester, NC 28748
2 bd • 2 ba • 1,044 sqft
No Subdivision
MLS #3800966