Would you buy this as a rental?
3 bed/ 2 bath
1200 sq ft
Interior has vinyl plank, granite, tankless water heater, all electric
Disclosure: We built the house and are looking to see if these builds would interest investors.
@Lina Bibikov I think it depends on the investor's criteria / experience.
The good: It's low maintenance because it's new construction.
The not so good: The numbers don't pencil out (for us). 15% down w/ a 25 year AM is a $668 payment before taxes and insurance. With $1k rent that leaves let say $150-$200 profit once taxes and insurance escrows are added to the payment.
a. Sell it as a rent to own deal. Renter puts $4-$10 down, and is responsible for the maintenance / upkeep with a contract to buy in 3-5 years. Of course consult a lawyer / local laws...rent to own has regulations after the housing crash of 2008 as I understand it.
b. Sell it as a turnkey rental.
c. Sell it to a first time homebuyer. Sounds like you put thought into the quality of the build...granite and tankless water heater etc. aren't common upgrades in a rental.