Does that sound too good to be true?
How could this be?
Really . . . If you buy this house and live in it (Owner/Occupant), you can enjoy monthly cash flow that should easily exceed the cost of owning it (Mortgage Payment, Utilities, Maintenance)
Just simple math.
Here’s how it works.
The Listing Price is $274,900
The payment for an FHA Mortgage would be less than $1,600/month (Including PITI – Principle, Interest, Taxes, Insurance).
So . . . There are 3 (THREE) complete “Apartments” plus a very cool 4th one that only needs a few Kitchen tweaks to be considered a full apartment.
Live in one, and rent the other 3 to Friends, Family, roommates . . . Simple as pie!
There are 2 LARGE decks in the Back, and every unit has exterior access – the upper rear unit has TWO decks (One is on the side).
Unit 1 (Might be a good roosting place for you, the owner) is the original main house. It’s got 2 bedrooms, a full bath, Eat-in Kitchen, and a living Room.
This unit also has interior to all other units (All doors are lockable). The Kitchen is large with lots of cabinets and storage . . . a fabulous hang-out space.
I would estimate that Unit 1 could rent in the $800/mth range.
In total, there are 2 Central Heating and Cooling Systems, 3 Water Heaters, 2 Electric Meters, Washer and Dryer connections in every unit, 3 COMPLETE, eat-in Kitchens, 3 awesome decks, 6 bedrooms, 4 Bathrooms, Cool storage Building, Walk-up attic storage . . .
and a partridge in a pear tree . . .
Unit 2 is the one I call the “Efficiency” but it’s not deficient in charm and functionality. This is built on the left side of the house and includes, a living room, a FABULOUS Bedroom suite with large bathroom and walk-in closet
and the COOLEST SunRoom which only needs a couple of appliances to make a complete kitchen.
This unit would easily rent for $650 (or more) and is FILLED WITH LIGHT. It has direct Handicap accessibility to the driveway and the rear deck.
Nice place for a Mother-In-Law Suite . . . or maybe even a VRBO.
The SunRoom itself is reason to buy this house 🙂
Nothing but WINDOWS and light.
Unit 3 boasts a HUGE Kitchen, 2 bedrooms, full bath, private side deck, access to the large rear upper deck, access to the walk-up attic storage.
This unit also has LOTS OF LIGHT.
Rent range for this one would also be in the $800/mth range.
Lots of space.
Didn’t I say “HUGE KITCHEN?” That door leads to the private side deck. Plenty of room for furniture (Dining table, Kitchen Island), and has Washer Dryer connections.
The 4th Unit is below Unit 3 and consists of a large kitchen, Living room, Bathroom and bedroom and has exterior access below the upper large rear deck (Into the back yard)
This unit would fetch @ $700.
So . . . If you’ve been paying attention, here’s how all those numbers look.
Mortgage Payment @ $1,600
Unit 1 $800
Unit 2 $650
Unit 3 $800
Unit 4 $650
Total rents could be $2,900 – You pick the one you want to live in and rent the others . . . You’ll enjoy $500 or so profit every month (Assuming no vacancy of rented units . . . That’s just CRAZY!
So . . . Put your entire family under one roof with separate living quarters . . .
Move in with 3 (or more) of your friends and let them pay your mortgage for you.
Or just buy the darned thing and fill it up with your own family as a single family.
Whatever you’re thinking, treat yourself to a tour of this unique property – It’s easy!
Just connect with me to schedule an appointment 🙂