Courtesy of Dave Schroder of MaxWell Polaris
PRIME INVESTMENT OPPORTUNITY!! This property is home to 4 special needs adults on AISH whose care is managed by an agency. 3 of the people have been residents in the house since 1996. Monthly gross income is $2400 - $737.10/month for taxes/insurance/maintenance = income of $1662.90/month. At $20% down with 30 yr Amort the monthly mortgage payment = $1345. NET MONTHLY INCOME = $317.90. Purchased in 1996, approx $75,000 was spent in 2002/2003 on interior and exterior renovations....kitchen cabinets and counters, flooring, bathrooms, paint, lighting, siding, windows, sidewalks, front porch, back deck, etc.This FULLY FINISHED 4 bedroom/4 bathroom home offers 1286 sq.ft. on the main and upper level, with another 1286 sq.ft. on the 3rd and 4th levels. The big kitchen has ample cabinets and there is a separate dining room. The parking pad off the paved alley is 30' long x15.5' and the concrete parking pad in front is 23.5' long x 18'. There is a large covered front porch as well as a two tiered deck in backyard.