Raleigh-Durham Investment Property Alert

RALEIGH-DURHAM INVESTMENT PROPERTY ALERT
SHORT-SALE PURCHASE OPPORTUNITY…Tenant already in place!
Instant Equity + Cashflow
Visit www.tiffanyelder.com/shortsaleinvesting  for more information on short-sales
Rathie, Durham NC
The 2  adjoining  townhomes sold in 2007 for 147k and 151k.  Close to POPULAR Brier Creek.
Other sales prices in the neighborhood reach as high as 156k.   4 year old townhome.
3 beds/2.5 baths/a[\pprox. 1400 sq ft.  TENANT IN PLACE!!  Lease expires October 2008
Proforma Estimates:
Purchase Price (***target shortsale price***)	$125,000.00
% Down	20%
Mortgage interest rate (blended rate)	6.50%
Amort.Period (Years)	30
Monthly Gross Rents (if fully occupied)	$1,000.00
Monthly Other Income	$0.00
% Property Management	8%
Annual Homeowners Assoc. Dues (HOA) or PMI	$960.00
Annual Taxes (previous year actual)	$1,555.00
Annual Insurance Estimate	$300.00
Current occupancy	100%
Interest only financing? (y/n)	y
MONTHLY INCOME: (assuming full occupancy)
Rents	1,000.00
Other	0.00
TOTAL MONTHLY INCOME	1,000.00
MONTHLY EXPENSES:
Mortgage Payment	541.67
Tax and Insurance	154.58
Property Management	80.00
HOA/ Other	80.00
TOTAL MONTHLY EXPENSES	856.25
ESTIMATED MONTHLY CASHFLOW	143.75
Year 1  Cash-On-Cash Return	6.90%
Cap Rate (includes 8% vacancy and repair allowance)	6.58%
If this property fits your investment criteria, contact Tiffany while it's still available!
Tiffany Elder, MBA, Realtor
Investment Consultant / Broker Associate
Realty Executives Southpointe
tiffany@tiffanyelder.com
Notes: All information is assumed accurate but not guaranteed.
Full due diligence is recommended before purchasing any investment property.
Cashflow and returns are based on financing and assumptions listed above.
Your financing for this property will depend on your creditworthiness.
These rates are for illustrative purposes only and may differ from your financing options