Call Jon at 407.9546 or Blake at 921.5934 for more details
Excellent Deal from historical perspective- Priced to sell 'yesterday' - Pre 2000 value
This House Assessed
Year Sold on MLS Value
2010 $ 134,500
2008 $ 162,400
2006 $ 168,000 $ 124,900
2003 $ 105,345 $ 95,800
2000 $ 87,200
Your price: $81,900. That is more than $23,000 less than it sold for in 2003 which was before the real estate bubble when prices got too inflated. That's even pre 2000 nominal values (based on the assessment, which up until 2006-2007 was almost always lower than actual market value) and if you were to adjust for inflation it would be even cheaper. Why so cheap? We bought this house at an auction and need to free up our cash to use on some other projects we have going on, and so we're looking to sell it as quickly as we can, even though it's a steal at this price.
Inexpensive, Turn-key Investment
The house is rent ready, tenants could move in today. There is new carpet and new paint already installed throughout the house. There are a few little things that could be fixed, mostly in the garage and outside, but nothing that needs to be done before someone were to move in. It's really in great shape.
Easy to rent - $850/month - 8% Cap Rate after expenses
Located just off State St., west of Glenwood, this house is in an excellent subdivision. It benefits from being in a very nice neighborhood very close to the Boise River and being one of the smaller houses in a very desirable location. Click the link below for Rent Comps:
http://www.finestexpert.com/rental-property/For-Rent/8423%20pamela,%20garden%20city,%20id
Even though this site says to ask $900/month, we'll be conservative and say $850 since the house down the street is asking that much. Maybe you can get more, on a lease option you certainly could ask for more.
$200/mo Cash Cow from day 1:
Assuming a 30 year fixed 5.25% non-owner occupied loan (I'm closing on that exact loan right now for a triplex in Nampa), with a 25% down payment, you will cashflow $200/month after setting aside $50/month in planned maintenance and repairs. Again, if you can get more than $850/mo it's even better.
House Specifics:
998 sqft
3 bed 2 bath
2 car garage
.114 acre lot
Built in 1996
Cheaper than you can buy off the MLS
This house was listed on the MLS at $99,900. You can't buy a house like this, in this good of condition, off the MLS for a 20% discount. At this price the house is just $82/sqft.
Call Today and put your money to work for you! Jon: 407.9546 or Blake: 921.5934
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