This property was sold on a lease option on 03/01/2023 for 149,000 with 18,000 plus monthly credits according to an amortization schedule of 180 payments at 9.75% interest. We are now closing and transferring the deed with a note and mortgage and will finance.
Initial Balance: 149,000
Down Payment: 18,978.09
Fixed Interest Rate: 9.75%
Amortization Schedule: 180 payments (15 years)
Monthly Payments: 1,377.40
Balloon: 3 years from closing
Remaining Payments: All
Remaining Balance: 130,021.91
Asking Price For Note: 125,000.00
Information on Collateral:
This is a property with two rental units with an estimated market rent of $2,000. The first unit is a 3 bed, 2 bath, two-story 1,595 SF home, newly renovated. The second unit is 2 bed 1.5 bath, approximately 1,200 SF, also newly renovated. Comps for price per SF are 112, and total SF of both units is approximately 2,800.
For any questions, please text or call David at 864-800-0523.