⌛QUICK CLOSE 👀 🏘️Subject-To Terms 💰GOOD CASH FLOW POTENTIAL 💸 Easy Rent Ready 🛠️🔐1hr from Tallahassee FLORIDA 🏖️ in MARIANNA 🌴

Description

☑️ PROPERTY TYPE: SINGLE FAMILY
SUBJECT-TO DETAILS & TERMS:

Interest Rate: 4.875%

Remaining Loan Balance : $77,270.47

Overdue amount to bring current: $3,627.51 (On 3 month forbearance, will need to pay this amount either at closing or after the 3 months.)

Deferred Principal Balance: $22,000.00 (no payments or interest on this amount, and not due at close – would need to be paid off at the next sale)

Monthly PITI: ~ $839.87

Could Rent for: $1,200- 1,500/month – Good Cash Flow!

(Principal $55.75 + Interest $313.01 + Escrow (Taxes and Insurance) $409.39 + Shortage: $61.72)

Escrow Balance: -$4,513.77

Mortgage is through Rocket Mortgage

Loan Type: New Conventional

Maturity Date: 06/2048

Buyer pays all closing costs

Recent Mortgage Statement available upon request

TOTAL STARTING PURCHASE PRICE: $~130,897.98 + closing costs

PROPERTY DETAILS:

3 Bed / 2 Bath

1,938 sqft of living space

Lot size 11,238 sqft

Built in 1955

Carport

Single Story

Has a fireplace

No HOA

1 hour to Tallahassee

5 min to Downtown Marianna

Located near Co Rd 164

Located near hospitals, schools, restaurants, shops, and parks!

LIGHT FIXER – REPAIRS NEEDED – Flooring (bedroom), 2 sheets of drywall in the bathroom by washer/dryer, paint and few cosmetics, leak back part of toilet. In good shape though!

Seller motivation: Relocating, illness

☑️ COMPS
For sale- ARV – Brick build – We are 863 sqft larger but 12 years older

$189,000 3 bd 2 ba 1,075 sqft 1967 built

4280 Hospital Dr Marianna, FL 32446

$176/sqft = $341,088

For sale – Near ARV – Brick build- We are 386 sqft larger and 8 years newer

$225,000 3 bd 2 ba 1,552 sqft 1947 built

4259 Liddon St Marianna, FL 32446

$145/sqft = $281,010

NON ARV – We have 1 less bathroom but 5 years newer!!!

3 bd 3 ba 1,943 sqft 1950 built

4341 Wilton St, Marianna, FL 32446

Sold : $145,000 Sold on 04/09/24

ARV- We have 1 less bedroom but 13 years newer!!

4 bd 2 ba 1,953 sqft 1942 built

4209 Lafayette St, Marianna, FL 32446

Sold: $185,000 Sold on 02/15/24

☑️ EXIT STRATEGY
Could Rent For: $1,200- 1,500/month

LIGHT Fixer to flip and resell