Papa Sells Properties
This listing was posted on Papa Sells Properties (via Real Estate Promo).
$397,080
Sweat Equity SubTo Opportunity in Rochester, MN
Price:
$397,080
BR/BA:
4 BR, 3 BA
Location:
5216 Castlewood Ln NW, Rochester, MN
Description:
Gain instant equity on this off market subject to opportunity. This home would be an ideal fit for a handy owner occupant that wants to build some sweat equity. A pipe burst in the home and it requires moderate rehab to repair the damage. A certified restoration company has taken all necessary measures to remove any moisture from the home. The hard work is already done, all that is left is the finishing touches to bring this beautiful home back to life. Located in the highly desirable Kings Run neighborhood of Rochester. Only a 10 minute drive to the Mayo Clinic. Crazy low entry fee for a home like this!Purchase Price: $397,080.51ARV: $475,000Repairs: ~ $40,000 (quoted by our contractor, much less if you do the work yourself)Entry FeeArrears - $5,696.92Assignment - $20,000Total Entry Fee - $25,696.92 + closing costsClosing Date - 03/29/2024EMD - $5,000 (Due within 24 hours of signing the assignment contract)Subject To TermsUnderlying Mortgage - $356,296.77Interest Rate - 5.875%Maturity Date - 09/2052PITI - $2848.46P - $401.82I - $1742.41TI -$704.23 (including PMI)Secondary lien (down payment assistance): $15,086.82Interest Rate: 5.875%Maturity Date: 09/2032Payment: $187.67Total Monthly Payment - $3,036.13UnderwritingLTR - $2,600 - $2,800.MTR - $1,200 -$1,400 per room.MTR - $4,000 - $4,200 fully furnished home.*Disclaimer - Closing costs are determined by title company and cannot be controlled by the assignor.Any discrepancies of closing costs will not be negotiable.Seller property taxes will not be prorated at closingBuyer to do ALL OF YOUR OWN DUE DILIGENCE. This is your investment as the buyerFor full photos and details go to -
Property Type:
Single-Family Houses
Sq feet:
2,672 sq. ft.
Year:
1991
Amenities:
Fireplace, Patio/Deck
For sale by:
Agent/Broker
Agent Name:
Papa Sells Properties
Posted:
March 4 on Real Estate Promo
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More About this Listing: Sweat Equity SubTo Opportunity in Rochester, MN
Sweat Equity SubTo Opportunity in Rochester, MN is a Four Bedroom 3.5 Bath Single-Family Homes for Sale at 5216 Castlewood Ln Nw in Rochester MN. Find other listings like Sweat Equity SubTo Opportunity in Rochester, MN and listings near 5216 Castlewood Ln Nw by searching Oodle Classifieds for Four Bedroom 3.5 Bath Single-Family Homes for Sale in Rochester MN.
Sweat Equity SubTo Opportunity in Rochester, MN is a Four Bedroom 3.5 Bath Single-Family Homes for Sale at 5216 Castlewood Ln Nw in Rochester MN. Find other listings like Sweat Equity SubTo Opportunity in Rochester, MN and listings near 5216 Castlewood Ln Nw by searching Oodle Classifieds for Four Bedroom 3.5 Bath Single-Family Homes for Sale in Rochester MN.