BARGAIN BUY - BE QUICK!

Listing Number:  1566
Posting Date:  14 August 2009






 
Price:$280,000
Listing:BARGAIN BUY - BE QUICK!
Type:House : Subdivision Potential
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Bay Of Plenty
Site Area:80 and 57 m2
Address: Login
Building Area:835 m2
Property Image

Description:

This is too good to miss! As new completely refurbished 3 bedroom home in miint conditon on 835m2 subdividable section, fully fenced with second dwelling available. Do the maths over $100 per week of positive cashflow at 100% borrowing. Current home rents for $275 per week. Sale price $257,000 Includes assignment fee $17,000.

PLUS 2 bedroom 57sqm log cabin gibbed and stopped ready for painting and flooring. The kitchen has gas hob, dishwasher, oven and fridge/freezer. This can be moved to site for around $2000 ready to connect up to power and services. Rents for $250 per week. Sale price $20,000. Includes fee $3000.

Cost about $10,000 to set up second dwelling, plus approximately $10,000 to finish off (carpeting, painting and putting in points and switches ). Cost = $300,000 for estimated valuation of $350K, make an instant $50,000 or 15% equity. For full borrowing at $300,000 at completed cost at 6% borrowing allowing $70 per week for expenses of insurance, rates and maintenance = $410 per week with rental income being $525 per week. This is $115 of positive cashflow per week.

Contact me now as this will go quick. - Janine 027 222 6001
email: janine.white@xtra.co.nz