Duplex in Casa Grande AZ - Seller will Finance [Price Lowered]

[Nate T.]

We 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.

Financing details:

• Purchase Price: $64,900
• Minimum Down Payment: $13,500
• Seller Financed Loan Amount: $51,400
• Monthly Principal/Interest (PI) Payment: $275 (first 3 years) $385 (thereafter)
• Interest Rate: 4.971% for the first 3 years, 8.218% thereafter
• Amortization: 30 years
• Loan Term: Full 30 years (No Balloon!)

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: 8.83%
• Annual debt service (at 4.971% interest): $3,300
• Annual profit potential: $2,430.20

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 8 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
• There is not currently a third party property manager in place. We will include 3 months of FREE property management, so you can have plenty of time to figure out the best management option.

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

For info feel free to email through BP or call 480-664-2193.