Investors are always asking if we have owner financed deals. They are not easy to come by.ย We have good news!
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We were able to work out anย Owner Financed Arrangementย with the owner of this three unit propertyย in Canton, Ohio. That's right! The owner is willing to be the bank. For a low cash down payment, you can own this 3 unit property in Canton.ย
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Here are the terms of the loan:ย
Assignment Feeย (Paid to FSV): $18K
Loan Amount: $45K
Down Paymentย ( 5%ย Paid to Owner at Closing): $2,250
Interest Rate:ย 5.5%ย (Wow!!!)ย
1st Payment Due: 30 Days After Closing
Payment Amount: $243 Per Month
Term of Loan: 5 Years
Balloon Payment: A balloon payment of all unpaid principal is due on December 30, 2027.ย
Amortization: Installment payments shall be amortized over 60 months.ย
To Summarize: For only $20,250 (5% Downย + Assignment Fee)ย in cash, you can own this 3 unit property with an ARV of ~69K-$92K, capable of producingย $2,140 per month. When fully occupied, this property should be producing aย 46.5% Cash-on-Cash Return. At the end of the 5 year balloon period, our projections show this property, if fully occupied, should produce aย 95.0% ROI. What a deal!
These don't come along every day. Don't delay. It won't last long.ย
Have a Great Day!
Take advantage of thisย great investment opportunityย and easily add theseย threeย unitsย toย yourย portfolio!
Locatedย inย Canton, Ohioย inย aย Solid C Classย neighborhood.ย With aย 34.72% Pro Forma Cap Rateย it could potentiallyย bring in $28,680/year,ย when fully rented!ย ย
Thisย three unit propertyย consists ofย one - 3 bedroom / 1 bath unit, one - 2ย bedroom / 1 bath unitย andย one - 1 / bath loft studio apartment with kitchen.ย ย ย Utilities costs were split with the owner. Plumbing piping was recently replaced,ย ย including the main stack and main line to curb.ย New furnace and water heater.ย Washer and dryer hookups on the 1st floor.ย Some sheetrock repair needed due to the plumbing stack repair.ย Owner purchased it for his daughter during college, but she recently graduated.
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Convenientlyย located minutes away from several schools, restaurants, and major corporations.ย