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$179,000

Beds
3
Baths
1.5
sq ft
2,284

1006 & 1008 Franklin St, Winchester, VA 22601

1006 & 1008 Franklin St

WINCHESTER, VA 22601

  • 85 days on market
    • Price drop $10,000↓
Back to market, PRICE TO SELL, Price reduced, $179 offered per unit both unit together offered at $358 k since they are under one parcel and one tax bill and one water meter and gas. ATTRACTIVE DEAL TO INVESTOR OR New INVESTOR or First TIME BUYER, PLEASE schedule VISIT online, or call agent, Two identical units “Duplex” WHERE EACH UNIT IS END UNIT Townhouses, currently One UNIT IS Vacant AND available to view, EACH unit is about 1146 sq ft SIZE with 2 LEVELS, 3 bedrooms and 2 bathrooms and average Rent EARNS $1450-$1500 PER MONTH/UNIT for the current year, EARNING ALMOST 9-10% cap rate or MORE cash on cash Return, HERE first time buyer can use one Unit and enjoy rental income for 2nd unit $18k/yr OR RENT BOTH UUNITS AND EARN Annual Rental income $35 k/year, IT'S SINGLE PARCEL and Very close to BEAUTIFUL Winchester CITY DOWNTOWN, Rt-7 and I-81 exit 315, LESS THAN 1 MILE TO VRE+ commuter lot and on connecting Interstate Highways of many state VA-MD-WV-DC-TN-NJ and 1 HOUR DRIVE TO CAPITOL OF NATION, LURAY AND SHENADOH VALLEY STATE PARK Shenandoah UNIVERSITY, Hot Downtown Location and shopping centers, MALL and restaurants. 45 minutes drive to Leesburg AND via freeway Rt-7 to greenway. 267 TOLL ROAD takes to TYSON CORNER AND DC METRO AREA PLUS MANY WINERIES AND HISTORICAL PALCES ,close to Martinsburg casino and Shenandoah Medical College and many industrial factories and car warehouses., NATIONS HEAD OFFICE OF FEMA, AMAZONS WAREHOUSES AND TRACK COMPOSITE FACTORY , ALSO CURRENT MANAGEMENT COMPANY IS available to manage FOR investor, showing available for vacant unit and it’s identical UNITS SIDE BY SIDE (Duplex) and RENOVATED RECENTLY , Beautiful 2 level Townhome WITH 3 BEDROOM UPSTAIR WITH FULL SIZE BATHROOM AND living -Dining kitchen on main Floor with 1/2 bath, Recently Installed NEW waterproof Lamination Floor. Freshly Painted., Baseboard heat, and four to five economical Window AC. and huge backyard with BBQ Little Deck area and Spacious front yard with 2 car Parking Concrete pads for each unit. It’s Duplex where Each Corner Unit offered at 199,000, price , total $398k for these two units Tenants pays water, sewage, trash, renter's insurance, gas, electric, internet and grass cut while landlord pays pest control, ($360/annum), property tax ($1123 per unit =$2246 and property Insurance $650 and Average repairs and maintenance $1745/annum for both units Landlords income $36,000 and expenses are about $5000 Net income after all expenses are $31,000 per year

Details

Property type

Duplex

Lot size

9,147.6 sq ft

Price per sq ft

$79

Year built

1975

Annual property taxes

$2,214

HOA

No

Price History

10/20/2024
Bright

Bright #VAWI2006106

Listed
$179,000
10/14/2024
Bright

Bright #VAWI2006106

Pending
$179,000
10/07/2024
Bright

Bright #VAWI2006106

Price change
$179,000
-5.29%

Schools & Community

Elementary school: 

Unknown

Middle school: 

DANIEL MORGAN

High school: 

JOHN HANDLEY

Community features: 

Sidewalks

School district: 

WINCHESTER CITY PUBLIC SCHOOLS

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Fulton Bank Na

Loan start date

March 2019

Original loan amount

$3,313,800

Est. remaining balance

Not provided

Interest rate

4.46%

Loan type

Commercial, 25 year

Seller

Chandra Motam

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 10/22/2024 at 4:30 PM

Listing updated: 10/20/2024 at 7:54 AM

Listed by: Ramesh Beladia, First American Real Estate Phone #: (703) 506-1003

MLS: Bright #VAWI2006106

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