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1br - 840ft² - Must Sell-Move in Ready-Cheap House Deal- Addition Started
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Property Description |
This house was originally listed at $49900, but the seller is very motivated, this was an inheritance.
An Instant Equity Purchase. Move in ready. The property already had a buyer but they could not get a mortgage, that is why this is a special deal with instant equity for a cash buyer ready to close quickly. Also this is why the house is a great opportunity to instantly start cash flowing on the full equity of the property (with interest!) by buying so low with cash and selling top value owner financed... Must Sell! Either way this is a great investment for a buy and hold or for a resale.
An addition has been started, finish the addition and instantly boost your profits raising the retail and rental value of the property. Nice Yard nestled in the trees, and feels even bigger due to being located up against a green strip. Extra storage outbuilding on property.
Great for retirement home, or first time home buyers...
As a rental would rent as is at $400 p/month, and renting at $400p/month would pay for itself in 6 years - cash flowing all profit from there, on TOP of the EQUITY. At purchase you already get an Instant %50 equity or more and could quickly flip the property as an owner finance at full price with interest! Hold it and rent for 6 years and you have 100% equity and 100% cash flow...
Higher rental value and equity with finish of addition/2nd bedroom. Probably at this higher rental price the property would pay for itself and the Addition within the same 6 years.
Springer, NM is just off of I-25
ARV $ 75,000 (conservative estimate)
Est. $ 0-10000 in repairs (move in ready, finish addition)
See More Pictures Below! Click on images to see full image, some of them are cropped as they are shown in gallery... |
| Contact person: |
wner |
| Seller Type: |
AgentorBroker |
| Phone: |
575-613-8137 |
| Email: |
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| Web Link: |
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| Listing Status: |
For Sale |
| Property Type: |
Condo Townhouse |
| Price($): |
23900 |
| Street Address: |
701 El Paso Ave. |
| City: |
Springer |
| Region: |
New Mexico |
| ZIP/Postal Code: |
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| Bedrooms: |
1 |
| Bathrooms: |
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| Stories: |
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| Square Feet: |
840 |
| Lot Size: |
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| Year Built: |
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| Owner Finance: |
No |
| Cap Rate: |
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| Net Operating Income: |
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| Price Per Square Foot: |
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