Any Potential Deal?

[Jill Md]

I received this call today. I had a little trouble comping it originally because it's a new build area and there just isn't much to compare it to other than the original sales which are now a year old.

The owner is trying to avoid foreclosure (had unforeseen expenses), at this point they are not behind in any payments.

Property:
3,082 sq ft
2 story, 5/2.5
Built 2006-purchased 12/2006 for $375K
Owe $355K
Payment with T & I = $2500/month
Loan = 30 yr conv. fixed @ 5.6%
Non-assumable, No prepayment penalty

16x 16 tile downstairs, carpet upstairs, gas heat, both gas and electric stove in kitchen, gas BBQ in backyard, 3 car garage with RV gate.

Comps:
$325-345

Sub2 because the loan is a good rate?, then lease option?, --but the monthly payment is fairly high for most people and the house is large for most renters.

EDIT: I just realized that a loan of $356K @ 5.6% 30 yr. "should" yield a payment of $2044/month, not $2500 as the owner told me. I called back to confirm the loan interest rate and monthly payment, but haven't heard back from them yet.

Thanks for any help, & suggestions!
Jill