Off-Market Two-Family Rental Property in Mattapan

[Jen Kenely]

Hi Fellow MA investors,

I know of a off-market rental property in Mattapan, and I would like to wholesale the deal or partner with someone on it.  These are the facts I know about the property and if anyone has any interested in this deal, please reach out to me.

Two Family Dwelling:

Built in 1950

Lot Size: 6,040 SF

Living Area: 1,920 SF

Assessed Tax Value: $359,900

Property Tax for First Half of the Year: $1,979.45

Bedrooms: 6

Baths: 2

Kitchens: 2

Heat Type: Hot Water/Steam

Rental income:

There are two occupants, one has lived there for about 10 years and the other about 2, and the owner says she makes $2800 a month in rent. It looks like the Median rent in that area is $2,100 a month for a 3 bedroom rental. That means if you were able to get new tenants, you could be making $4200 a month instead of $2800.

The owner has $280k left on her mortgage and bought the property for about $430K. She would consider seller financing.

Comp: One similar property a few houses over sold for $375,000 back at the be of the year.

Feel free to reach out to me with any questions!

Thanks!

Jen