TITLE:
Long term Occupant in Nice area
CONTROL:
Owner
VALUE:
$234,500
LOAN:
$111,777
EQUITY:
$122,723
TYPE:
Homes/Condos
HAVE:
Nice 3-bedroom rental in a good neighborhood with a long-term tenant who does want to buy the house in the future. Built in 1955, remodeled in 2015. 845 sq ft. Fresh paint and gutters.
ADDRESS:
257 Carolina, Longview, Washington
BENEFITS TO NEW OWNER:
Stable tenancy. New roof completed 11/2021. The tenant painted the house in 2024. New gutters 2024. She is painting the interior.
GROSS SCHEDULED INCOME:
$14,400 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$14,400
EXPENSES:
$2,043
NOI:
$12,357
DEBT SERVICE:
$8,376
CASH FLOW:
$3,981
CAP RATE:
5.27%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$111,777
$835
6%
06/30/2030
Yes
BENEFITS SOUGHT:
Improve position. Payoff debt. refinance. upside.
CAN ADD:
Other rentals in the book. Financability;
REMARKS:
This property has many improvements
COUNSELOR:
Hal Palmer
PDG Services
P. O. Box G
Longview, Washington, 98632
