Charlotte, NC Sub To w/ seller finance

3% interest rate on exisiting loan

-Charlotte, NC 28262

PP $515,000 (ARV $555,000 – will need new rugs upstairs)
-Single Family

-5 Bedroom, 2.5 Bath (advertised as a 5 bedroom but in reality it is 6 bedrooms, the office has a closet and as big as the other rooms) The house across is owned by Progress Residential and they are renting to college kids only, each room seperately. If the new owner is smart about how he rents this property, he can easily make $4000 after expenses, monthly!

-3428 sq ft

-HOA $150 quarterly

Subject to Details:

-30 year fixed mortgage at 3%, roughly 28 years left

-FHA

-Subject to existing mortgage balance of roughly $343,539.85

-PITI on Mortgage of $2111.78

Terms:

Entry Fee of $100,000+Closing Cost+TC Fee

(Entry Fee Non Negotiable – Not in a hurry to sale)

Seller Finance: $71460.15 at 5%, 3 year balloon on 30 year amortization

No wholesalers involved, No realtors involved

Exit Strategy:
LTR $3000-$4000 per month
STR to college kids, each room will rent for roughly $1000 (6 bedroom = $6000 monthly!)

Welcome to your new home in Mallard Lake! Located in one of the most popular and growing areas of Charlotte. Within walking distance of schools, shopping centers, and biking trails. Enjoy the neighborhood’s amenities, including a swimming pool and playgrounds. The first floor features an open floor plan with new flooring and neutral paint. Family room w/ fireplace, formal living room & dining room. The kitchen has granite counters, island & backsplash. The formal office can be converted to a bedroom on the main floor. The owner’s suite has a tray ceiling, walk in closet, & large sitting room. The owners’ bath has a separate shower, garden tub, dual sinks & water closet. There is an upstairs bonus/bedroom with a closet. Relax outside on the large private back yard with a new deck. I-485 is within minutes for an easy commute. Tesla charging port in garage stays, ready for it’s new owner.