What Value would you put on this note?

[Mike McKinzie]

I am getting ready to sell a piece of property and carry the note. I won't hold anyone to this, but am curious what you think the note is worth. Here are the facts:

Sales Price: $580,000
Down Payment: $145,000 (25%)
Note Face Amount: $435,000
Interest Rate: 5%
Payment: $2,335 a month

Property is two on a lot, both have long term tenants, total current rent is $3,300 a month, soon to be $3,600 a month. I have a new roof being installed on both properties on Monday, August 6th. Front house was built in 1960 and back house was built in 1986. Fair market rent is about $4,000 a month. Buyer's credit rating is over 800.

While a lot of note buyers want 10% or 15% or more, there is no way I will discount it that much. I will just keep the note for income. My current mortgage payment is $1,000 a month, so my cash flow will actually increase, getting $2,300 a month with no rental expenses.