Today's Deal of the Day is a 770 square foot two bedroom and one bath, 1930's constructed home on .14 acres within the city limits of Grass Valley priced at $70,000. Yes the house is small, yes it is older, yes it is only two bedrooms and two baths. But it currently has a renter who pays $1,200 a month to live here, who would also like to continue to stay after the close of escrow.
Get this. If you paid $70,000 less a 20% down ($14,000) you would have a loan ( $56,000) that would cost $456 per month (based on a 3.725 interest rate 30 year loan) which would leave $744 for taxes, maintenance and insurance. Taxes $75.83 per month and insurance of $41 (estimated) leaves $627.17 per month on the table for maintenance.
$627.17 a month x 12= $7,526 per year in cash flow assuming there were no maintenance charges. This investment could be a 53% return on your investment. Call today!
The listing agent describes the property as...
Nice
little investor home with long term tenant in place that desires to
stay. Unfinished attic area could be additional square footage with
rough plumbing installed for second bath. Buyer to verify permits.
Some windows have been upgraded to dual pane. Nice tree covered lot
close to downtown amenities. Health forces short sale.
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Scott Hopper - Realtor, 530-477-2277
"If you enjoy reading my blog, please keep me in mind when you or a friend needs a real estate professional"
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