Suggested Price $138,000
to buy Assignable Purchase & Sale Agreement
for subject property located at:
41 Vine St., Milford, MA 01757
SUMMARY OF OPPORTUNITY
- The seller has signed the contract to sell. Gwendolyn Property Management, LLC has signed the contract to buy and, being overwhelmed by other projects at the moment, has made the decision to make the contract available to another buyer.
- Construction loan and other financing information can be found below.
- The property currently contains some of the seller’s belongings, but the entire contents will be removed.
- There is a link below to photos and videos of the subject property.
- There will be an opportunity for a thorough inspection of the property by private appointment only (see below). This is not a public open house.
- Gwendolyn Property Management, LLC is not selling the property, but selling the purchase contract, to be assigned to Buyer as specified below. Highest offer with $5,000 non-refundable earnest money will receive the contract.
Click here to view Purchase and Sale Agreement
Click here to view Assignment of ContractEarnest money to: Dorner Law & Title Services
Details of subject property according to homeowner and public information. Please do your own due diligence.
6 total rooms / 2 bedroom / 1 bath
Possible third bedroom to add value
718 sq. ft. livable space * Public record, may differ from actual *
Lot size: 3,001 sq ft
Basement: Partial Basement
Located near High School, Jr. High and Elementary School
Property: Is livable in move-in condition.
Inspection:Friday, June 22nd, 2018 at 2:30 - 4:30 PM - Call Jeanne 508-980-5333 or email [email protected] for appointment
Offers
- Must be received no later than Monday, June 25th, 2018 at 5:00 PM
- Submit all offers to [email protected]
Subject property along with most similar comparable sales
| Value based on lowest $/sq ft | Value based on highest $/sq ft | $330,868 |
Rental information
You may click here
for a refresher on the “1% Rule of Investment Property.” Sample figures:
Acquisition $138,000
- 3.5% closing costs $4,830 (estimate - Buyer is advised to perform due diligence)
Total Investment: $142,830 (estimate - actual figures may vary)
Following the 1% Rule and using these sample figures, the property would have to be able to be rented for $1,429 per month or more to be considered a good investment. Here are a couple of actual Milford rentals:
| Date | # of Bedrooms | Advertised Rent |
| June 12th | 2 | $1,575 |
| May 3rd | 2 | $ 1,490 |
| May 31st | 3 | $1,500 |
| Dec. 22nd | 2 | $1625 |
| Dec. 29th | 2 | $1,525 |
| January 3rd | 2 | $1,500 |
| January 5th | 2 | $1,450 |
| Nov. 27th | 2 | $1,745 |
| Nov. 18th | 2 | $1,350 |
Link to 100+ photos: Photos
FINANCING OPTIONS
For non-owner occupied construction loans:
John Latino
(508) 865-9521
[email protected]
For owner-occupied constructions loans:
Jason Anker
Cell: 857-891-5075
[email protected]
For hardmoney lender options:
Contact me directly at [email protected]
There are many other options to choose from. Buyer may choose whatever financing he or she chooses and is advised to perform adequate due diligence. Neither Seller nor Gwendolyn Property Management, LLC are affiliated with any financial institution.
Thank you,
Jeanne Smith
508-658-2897
