ASKING PRICE $46k - Performing 1st Lien - 3yr. Land Contract - UPB $46,732 @ 10%

[Jody Smith]

PROPERTY ADDRESS - 1314 R AVE. NEW CASTLE, IN 47362 

ASKING PRICE $46,000

Single-Family 
3 Bedroom 
1.5 Bathroom 
1480 Sq. Ft. 
20038 Sq. Ft. Lot 
Build Year 1900
Estimated value $110,000 
Realtor.Com Link

Origination Date Nov 30, 2022
Original Balance $47,000
Total Payoff $46,732
Interest Rate $10%
P&I Payment $413
Escrow/Impound $116
Total Payment $529
Last Payment Received Dec 1, 2023
Next Payment Date Jan 1, 2024 
Maturity Date Nov 30, 2025

3yr. Land Contract Explanation
- Land contracts originated with a 3-year maturity date.
- The promisee to pay P&I payment equal to 10% amortized 30yrs.
- The promisse is responsible for property taxes and HOI if required, paid to the promisor with P&I payment.
- The promisee is responsible for all repairs required on the property.
- Contract maturity date, principal balance is due by cash or traditional financing.
- If the promisee does not perform on the 3yr. contract the promisor can require an additional deposit and extend the contract or evict.

**If you are interested in investments structured in a land contract, lease option or even affordable property do inquire with me at [email protected]. We have a revolving inventory of property that we look to resale regularly.**