Performing note gets you a 12.1% Cash on Cash return

[Don DeMarco]

This is a Single Family Home located at 1002 Mercer Street, Youngstown, OH. Property has 2 stories and a basement with 3 bedrooms, 1 bath with approximately 1,248 sf. of interior living space. Lot size of 7013 sf. and was built in 1910. Property is in the Oak Hill neighborhood (Mahoning county) Youngstown, OH.

Homeowners have lived in this home for 14 years, they fell behind on their payments due to illness and were overwhelmed with hospital bills. They have recovered and are back working where their payments are on time every month.

FMV of Property is estimated at 28000
Zillow Value $27,896
The UPB is $23,836 (New Mod. Amount)
Current Interest Rate 8.76%
Loan Term 30 yr fixed
1st Lien position
Monthly payments remaining 348
Monthly Payment: 200.00
Property Taxes $200.82 yr.
Property is occupied by homeowner
Original Purchase date 11/15/01
Next payment due date is 1/1/16Pick up this performing note and get a 12.1% cash on cash return.

This Asset is selling for 19,800.