what do you think of this deal?
asking price: $35,000
Currently rented at $670/month
HOA fees: $170/m
tenant pays all utilities
prop tax = $200/yr (yes i'm serious)
insurance = estimated conservatively for $300/yr.
will manage myself.
Have commitment of $28,000 (80% LTV) private loan for 10 yrs. at 5% which = $297/m or $3,564/yr
new furnace, just totally rehabbed, a [i]suspected[i] turn-key acquisition.
Seller lives out of state, wants out. I'm going to offer $30k. What do you guys think?