Seller will finance full 30 years - Duplex in Casa Grande AZ

[Nate T.]

I have a duplex in Casa Grande, Arizona, available with seller financing for the full 30 years. (Casa Grande is just outside Phoenix, about 30 miles to the south.)

See Photos HERE.

Property details:

• Address: 52 N Morrison Ave Casa Grande AZ 85122 (DO NOT DISTURB TENANTS)
• 2 units
• Both units are 1-bed 1-bath
• Both units have tenants on 12 month leases, with approximately 9 months remaining.
• Rent Amount: $349 (Each unit)
• Security Deposit Amount: $300 (Each unit)
• Tenants pay all utilities except Sewer/Trash. Sewer/Trash bill of $102.90 per month is partially billed back to tenants at $20 per unit, so net cost to Owner is $62.90 per month.
• No HOA

Financing details:

• Purchase Price: $69,900
• Minimum Down Payment: $14,500
• Seller Financed Loan Amount: $60,400
• Interest Rate: 5% for the first 3 years, 7.8% thereafter
• Amortization: 30 years
• Loan Term: Full 30 years (No Balloon!)
• Monthly Principal/Interest (PI) Payment: $297.40 (first 3 years) $398.81 (remainder)

Income/Expense details:

• Income: (Rent of $349/mo + $20 utils) x 2 units x 12 months = $8,856 Potential gross income 
• Annual expenses (not including mortgage): $3,125.80
• NOI: $5,730.20
• Cap Rate: 8.20%
• Annual debt service (at 5% interest): $3,568.80
• Annual profit potential: $2,161.40

Disclosure:  I am a Realtor.  Geneva Real Estate & Investments. Owner/Agent