Fort Washington

GREAT SINGLE FAMILY HOME IN TANTALLON SOUTH, MINS FROM FT WASHINGTON HARBOR AND MARINA, RT 210, I-495 AND DC

12700 Parkton St,Fort Washington, MD 20744

4 beds 2.1 baths 1,881 sqft

This property was acquired using a “Subject To” contract

All of the mortgage payments towards principle will go to the owner of the contract.

Exit strategies:

1) Short Term Tenant Buyer (24 months)

2) Long Term Tenants (60 months+) until existing mortgage is paid off

Total Purchase Price

1) House – $255,000

2) Mini-Rehab – $30,000.00

Total cost – $285,000.00

ARV – 315,000.000

Built in Equity – $30,000

Upfront Costs = DP +Rehab = 35000 + 30000 = 65000

Monthly Mortgage – $2000

Monthly Rent $2300

Cash on Cash returns – 5.5%

ROI (Cash plus Principle reduction) – 15%

 

 

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