NCE National Council of Exchangors
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National Council of Exchangors

 



CONTROL: Owner VALUE: $525,000
    LOAN: $321,000
    EQUITY: $204,000
TITLE: COLORADO SPRINGS DUPLEX AND VICTORIAN SINGLE FAMILY HOME
TYPE OF PROPERTY: Multi-Family
HAVE: 1895 4/2/2 Victorian home on large duplex lot with duplex on adjacent lot in very desirable location near the Broadmoor and Downtown Colorado Springs.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Colorado Springs, CN COUNTY: El Paso
BENEFITS TO NEW OWNER: House is vacant and just went out of contract, many showings, will go under contract soon, appraised for $280k. Duplex is the keeper and has good income. Only $180k needs to be cash/new loan. One of the hottest markets in the country-appreciation.
GROSS SCHEDULED INCOME: $44,220    Projected
VACANCY LOSS: $2,200
GROSS EFFECTIVE INCOME: $42,020
EXPENSES: $13,200
NOI: $28,820
DEBT SERVICE: $30,720
CASH FLOW: $-1,900
CAP RATE: 5.49%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $156,000 $1,570 12.00% 8/2018 N
LOAN 2: $165,000 $989 6.00% 2022 N
BENEFITS SOUGHT: Payoff high interest debt. Just as happy not to go out of title. To buy something beneficial with this equity.
CAN ADD: Land, paper, more income property in the same area, cash,
REMARKS: We are Buyers with these equities if we can pay off the high interest debt. $140k of low interest debt can move with us.
COUNSELOR: Blake Allen, EMS
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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