SubTo 3.1% Mortgage Take over the existing loan for 37K Down !! Covers all costs !!

Colorado Springs, Colorado
Springs
+16

Listings Stats

Published: Dec 14, 2023
Last Edited: Mar 29, 2024
Listing Type: Wholesale
Listing Status: Sold
Number of Views: 436
Days On Flippery: 329
Number of Favorites: 0

The Numbers

Buy It Now Price: $40,000
Asking Price ($): $37,000
After Repair Value: $0.00
Est. Cost of Repairs: $0.00
Est. Gross Profit: $37,000
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Description of Property

3.1% VA Subto  Colorado Springs 80910 NO HOA,
10% Entry   37K Total Cost to Close
COE: On or before 01/03/2024
Please see Attached PDF FOR FURTHER DETAILS!

Contact info David: ***-***-****
Contact Info Noah: ***-***-****
Please View Photos attached

4bd   2ba   1,660 sqft
1971 year built
Remaining principle balance:  $338,326.08
PITI: $1,866.80
3.125% VA Loan
Purchase Price: $364,083.40
$5000 EMD
Entry: 37.000.00
$9,707.73 arrears
$7,500 to agent
$3,000 to seller
$16,500 assignment or $15,000 assignment if you bring your own TC I’m covering deposit to open title

Wrap is best exit
LTR: $2,200-$2,400
STR: $24.2k net (annual) @ 56% occupancy
MTR: $3,500-4,000 (furnish finder)

COE: December 26-29th to avoid more arrearage, January 3rd 2024 the latest. Seller is a Veteran and is relocating.

Contact info David: ***-***-****
Contact Info Noah: ***-***-****

Please see Attached PDF FOR FURTHER DETAILS!

Description of Repairs

Cosmetic only such as fresh paint.  No Structural repairs needed
  • Access:
    Message Me
  • Build Year:
    1971
  • Home Area(sqft):
    1,668
  • Bedrooms:
    4
  • Heating:
    Boiler/ Radiator
  • Fireplace:
    No
  • Water:
    City
  • Property Type:
    Single Family Residence
  • Occupancy:
    Vacant
  • Lot Size(acres):
    8699
  • Bathrooms:
    2
  • Cooling:
    Central A/C
  • Foundation:
    Finished Basement
  • Sewer:
    Public/City
  • Parking:
    Attached Garage

The Numbers

  • Asking Price ($):
    $37,000
  • ARV Price/Sq Ft:
    $0.00
  • Est. Gross Profit/Equity:
    $-37,000
  • Price Negotiable?:
  • Purchase Option:
    Cash, Sub To,
  • Rental Restrictions:
    No
  • HOA:
    No

Creative Financing Terms

This property is being Sold Subject to the existing mortgage of 3.1% Total Down at closing to acquire the property is $37,000.

Comparables

No info given

Property Inspection

  • Details:
    Please do your own due diligence. We are looking to have this property SOLD within 1 week from this original Post date.

Closing Details

  • Closing Attorney / Title Company:
    Colorado Title Company
  • Target Closing Date:
    December 29, 2023
  • Details:
    Please bring your own TC for the transaction. Thank You

Attachments

3490-Mosswood-Ln-Colorado-Springs-CO-80910.pdf

Location

Please to view the Map

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