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$275,000

Beds
Unknown
sq ft
Unknown

1314 Franklin Avenue, High Point, NC 27260

1314 Franklin Avenue

High Point, NC 27260

  • 534 days on market
This is an investors dream! Cash flowing right now! The crawl space was fitted with a moisture barrier and regular pest inspection and treatment done. Private parking in the rear of the house. Two rooms are furnished. The best thing about this property is the 13.5% cap rate!!!! Unheard of! The seller is the listing agent and is willing to maintain the property management for the potential buyer at 10%. This is the investment opportunity you have been waiting on! A cash flowing asset perfect for DSCR seekers! $5000 towards closing costs with full price cash offers.

Details

Property type

Est. home value

$255,972

Lot size

Unknown

Price per sq ft

Unknown

Year built

1922

Annual property taxes

$599

Price History

06/14/2024
TriadMLS

TriadMLS #1108096

Price change
$275,000
+25%
05/22/2024
TriadMLS

TriadMLS #1108096

Price change
$220,000
-6.38%
04/30/2024
TriadMLS

TriadMLS #1108096

Listed
$235,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

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

Seller could get up to

$138,864
Asking price
$275,000
Closing costs (~8% of asking)
-$22,000
Est. remaining loan balance
-$114,136
Cash to seller
$138,864

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Rocket Mortgage Llc

Loan start date

April 2022

Original loan amount

$120,000

Est. remaining balance

$114,136

Interest rate

3.76%

Loan type

New Conventional, 30 year

Seller

Carlos Parks and Demetria Parks

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: 11/22/2024 at 9:10 PM

Listing updated: 07/29/2024 at 3:06 PM

Listed by: Carlos Parks, Versatile Real Estate Group Phone #: (919) 225-0660

MLS: TriadMLS #1108096

TriadMLS logo

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