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Short story. This house is in great condition. Needs a few small maintenance items amounting to $700-$1300, but nothing making it unsafe or unrentable. Current tenant is month to month right now and $75 under market rent, which should be $725. I buy every house I can, but this does not meet my lender critera since market value is under $90,000. I can point you towards property management in the area as well.
In addition to the purchase price, closing costs will need to be covered for seller as well as about $1300 in back taxes.
Hi Junior. I’ll check and get back to you. Normally I would know this but my plan was to get a new tenant in at the higher rate so I wasn’t concerned with the current arrangement.
For any future readers, the tenant pays gas and electric. Owner pays sewer and water.
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