TITLE:
Near the River with New Tenants
CONTROL:
Owner
VALUE:
$239,000
LOAN:
$166,107
EQUITY:
$72,893
TYPE:
Homes/Condos
HAVE:
New tenants in this home. Built-in 1910; 735 sqft; 2br 1 ba. Remodeled 2010. New loan approved and in progress. Appraised 10/24/2023
ADDRESS:
314 NW 2nd Ave, Kelso, Washington
BENEFITS TO NEW OWNER:
New tenant. Under rented. upside; Nice interior. New Bathroom floor down to joists.
GROSS SCHEDULED INCOME:
$13,200 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$13,200
EXPENSES:
$1,991
NOI:
$11,209
DEBT SERVICE:
$14,616
CASH FLOW:
$-3,407
CAP RATE:
4.69%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$166,107
$1,218
7%
11/04/2028
Yes
BENEFITS SOUGHT:
Improve position. the upside in the next project.
CAN ADD:
Other rentals and lots in the book.
REMARKS:
New roof in 12/23
COUNSELOR:
Hal Palmer
PDG Services
P. O. Box G
Longview, Washington, 98632
