Great investment property in Woodbridge-Take a look!

By
Real Estate Sales Representative with Keller Williams Realty

Investor Alert! Here is an Indymac foreclosure that we just put on the market for 116K last night. We already have cash offers and I think it will take 120-125K to get the property. It has some nice updates-kitchen, roof, etc.. but has a small area of mold in the basement and the bathroom has to be remodeled. It is a great price though, and it would be cash flow positive if you got an investor loan on it. See how the #s break down below: Purchase price of 125K with 25% down = $31,250 down, $93,750 loan amount. $93,750 @ 5.75 interest rate, 30 year fixed = $547 monthly taxes = $120 Hazard insurance = $50 Total Monthly outlay = $717 Average monthly rent = $1300/mo Total positive cash flow = $583 a month. *I think it would take about 5-7K to get it to average condition and able to be rented for this. Could be less but I think this is pretty accurate. Click the following URL to see the listing: http://mrislistings.mris.com/Matrix/Public/Portal.aspx?ID=36530881318 Let me know if you need more info or would like to see it. Thanks and have a great day!

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