Property Description:
1977-built <> 1983-Detached Double Garage <> 1987-Addition 504 sq.ft.+ full basement;
6 beds / 3 baths Split entry in city limits, 2,331 current finished sq.ft.
> Currently Rented both units: Target Rent - $2,100 ($1,300 + $800) + $200 Garage/Storage rent
> Rentometer Estimated Rent:
> Upper unit 4bd-2ba; Rent = Avg $1,330 / Median 1,450 [25-75% = $1,030-1,630]
> Lower unit 2bd-1ba; Rent Avg/Median = $875 [25-75% = $745-1,030]
Assignable Contract purchase price $130,000 - See Disclaimer Below;
As Is value: $215,000
ARV: $240,000 (Investors - After Repair Value / Marketable Value)
2020 Blue Earth County EMV $190,900
> Great for college students attending: * MSU-Mankato * South Central College-North Mankato Campus * Bethany Lutheran College * Gustavus Adolphus College * Rasmussen College – Mankato
> Great potential for 2 additional beds and 1 bath for the lower unit to increase cash flow
> Additional rent from Detached garage
Property could use cosmetic repair; i.e. flooring & paint, minor exterior cosmetics and landscaping cleanup
Legal Disclaimer: This is a typical Investor Marketable Contract for Wholesale Assignment. Price based on a cash or hard money purchase and includes assignment fee. Property is being sold as-is, and buyer is to pay all closing costs and a negotiated assignment fee. Buyer may be required to pay a non-refundable earnest deposit. Buyers to do their own independent due diligence, i.e. inspections etc. No representations written or oral are made concerning the property or seller. Property Redevelopers LLC make no guarantees concerning property condition, value, characteristics or financial benefit. Equal Opportunity Housing. The property is independently owned. Property Redevelopers LLC is not selling the property for the seller. We have the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as we choose in order to find a prospective buyer to assign this contract to for an assignment fee.
Bonus: Purchase agreement is set up for "Assignment of Beneficial Interest in Land Trust"
Inspection / viewing by appointment, June 25th-27th 10am-noon or 2-4pm
Click the links below or copy and paste the following links into your web browser for:
Additional pictures; https://drive.google.com/open?id=1SQt5291orB2c0BnUew9sxWkItrKdi83t
3D-360; https://360.mnhometours.com/tours/-mNh6YtGP_