Need Help with analyzing a Subject To Deal Property
Hello BP Family!
I have come across a Subject to deal in Charlotte it is an off market property built in 1983 3 bedroom 2 bath 1350 sq ft. Zestimate shows the price as $152,000
they have $95000 left on mortgage and are asking $30,000. Their interest rate is $4%. I need help with analyzing this deal-is it a good deal or should I let it go.
It is currently rented at $1300/mo until March'18.
I searched the recently sold homes in that area with comparable square footage/aged homes have sold between $120-$150k
This is my first time working with a subject to property and need help.
Any input will be greatly appreciated. Thank You!