Income producing duplex available; Meets 1% rule; Seller financing available

[Jon Tripp]

I have an all brick duplex in South Carolina that I'm looking to sell in order to make another purchase out of state. Off market price: $299,000

The duplex, less than an hour from Greenville, is generating $1,600 on Unit A and $1,700 on Unit B. It is fully furnished and occupied by professionals who work in the area.

I purchased this property as a mid-term rental because of its proximity to numerous industry headquarters, the local hospital (less than three miles away) and the local college (less than a quarter mile away - think AirBnB for parents). There is a shortage of housing and units can't come online fast enough.

A question you should have for me: If it's working so well, why am I looking to get out of a successful business? Glad you asked. This is not my only property in the area. I have a number of other doors that are also fully occupied. I have some properties I am looking to purchase in another state and need some cash to support that deal. I'm not desperate nor am I in a position I have to sell. I owe nothing on the home.

If you're looking to get in real estate investing or already have a portfolio, consider this duplex. With $3,300 monthly income, at an asking price of $299,000, you're more than meeting the 1% rule.

Some features:

- professionally painted
- fully furnished; all furnishings 1-2 years old
- all appliances in Unit A ~1 year old
- hardwood floors throughout
- laundry room available to both units
- all brick exterior
- covered deck on back
- high speed internet with access points for both sides
- exterior security cameras recently installed
- updated electric panels

I will consider seller financing with a full price offer. Terms: 

- 50% down with remaining amount seller financed at 7.5% over 5 years with balloon payment at end of term; or
- 40% down with remaining amount seller financed at 8% over 4 years with balloon payment at end of term; or
- 30% down with remaining amount seller financed at 8.5% over 3 years with balloon payment at end of term

Serious inquiries only. 703-552-5259.

Jon

Unit A

Unit B