This is a great duplex in Middleton (#8 best place to live according to Money Magazine). Good sized units are each nearly 1700 finished sqft, with 3 bedrooms and 1.5 bathrooms. 1 car attached garage for each unit. Plenty of updates including roof, insulation, ext & int paint, windows, flooring, bathroom, kitchen counters, patio doors, etc. Great location within walking distance to Pheasant Branch Conservancy and Middleton Hills shopping area. Perfect for either owner-occupied or investor.
The property gets $2,250 monthly rental income ($1100 and $1150). Landlord does not pay any utilities. Taxes were $4,657 in 2011.
Here’s a look at what the numbers might look like for someone purchasing this property at $275,000:OWNER OCCUPANT – 30 year FHA loan at 3.875% interest rate Down Payment: $9,625 (3.5%) Mortgage Payment (Principle & Interest): $1,250 PMI Payment: $190 Taxes & Insurance: $450 Total Monthly Mortgage Payment: $1,890 Total Monthly Rental Income: $1,150 Net monthly payment = $740 MONTHLY CASH FLOW when move out = $360 INVESTOR – 30 year conventional loan at 4.75% Down Payment: $68,750 (25%) Mortgage Payment (Principle & Interest): $1,075 PMI Payment: $0 Taxes & Insurance: $450 Total Monthly Mortgage Payment: $1,525 Total Monthly Rental Income: $2,250 MONTHLY CASH FLOW = $725