Help needed on owner finance deal
Pretty straightforward I guess...I'm just not very familiar with owner finance offers and was hoping some more experienced folks might be able to offer an opinion. Here's the numbers:
Purchase price: $135k
ARV: $190k
Repairs: $20k
Rent: $1500
Owner finance terms are $28k down @ 6.75%, seller reports a monthly PITI of about $1200 but I have it more around $1000.
My thoughts are that CoC isn't great @ 2.85%, neither is cash flow @ $150 after accounting for vacancy, CAPEX, etc. But the equity capture ($82k) is good on the deal. I'd love some feedback....thanks so much!