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504-571-9576

Remodeled Holly Grove Cash Cow or First Time Homebuyer

Renovated 1,326 square foot 5 bedroom 1 bath CUTE single family home on large 3,600 square foot lot for sale. Large master bedroom (18′x12′) and ceramic tile throughout entire house makes for low maintenance. Around the corner form Holly Grove Farmer’s Market.

Makes a great investment property with current Section 8 rent @ $1,254 monthly OR first time home buyer opportunity WITH soft second mortgage. Originally a shotgun w/ addition.  All bedrooms have closets, four of them large. New window units and space heaters come with property along with gas stove and refrigerator. Tenant pays own utilities.

Single Family Home Opportunity:

Purchase Price:         $72,500

3.5% Downpayment:  $  2,537.50

Insurance (Annual):    $  1,087.50 (estimated)

Property Tax:             $      none  (Purchase price less than $75K Homestead Exemption)

30yr FHA @ 3.5%:     $  404.79/month WITH ESCROWS!  -OR- $208.09/month with Soft Second Mortgage!*

Cash due at closing:   $ 4,825.00 (estimated), $3,625 with Bond Loan Program

 

*qualification amounts vary per household income and conditions apply

Investment Income Analysis:

Purchase Price:         $72,500

25% Downpayment:   $18,125.00

Insurance (Annual):    $  1,087.50 (estimated)

Property Taxes:         $  1,066.99 (2012 rates)

30yr Mortgage@4.25  $     447.30 per month with escrows

ROI = 53% !! (current rent $1,254 per month – monthly payment $447.30 = 806.70 monthly cash flow/downpayment)

 

 

 

Address:
8718 Edinburgh St, New Orleans, LA 70118, USA 
Price:
$72,500 
Bedrooms:
Bathrooms:
Area:
1326 
Phone Number:
504–571–9576 
For Sale:
yes 
Neighborhood:
Hollygrove 
Currently Rented?:
Yes @ $1,254 

Features

  • Ceramic Tile
  • Closets
  • Renovated
  • Single Family Home

Community Features

  • Farmer's Market
  • Near Shopping

Inquire About Remodeled Holly Grove Cash Cow or First Time Homebuyer

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