Wholesale: Classic View Estates in Spanaway

Seattle Investors Club Investment Deal

2 Story Home | Classic View Estates in Spanaway | Nearby Schools | Built 1996

Spanaway Property Details:

Address:
21902 40th Ave E
Spanaway, WA 98387
Year Built: 1996
Beds: 3
Baths: 2.5
Sq/Ft: 2,098
Attached Garage: 550 SF
Sewer: Grinder Pump
Price: $215,000 including assignment fee
Estimated Current As Is Value: $245,000 +

Estimated Cost of Repairs Needed: $5,000
Estimated Rent (Buy/Hold): $1,450
Estimated Rent Lease Option: $1650

PLAN A***: BUY – LEASE OPTION EXIT OR SELLER FINANCING EXIT *****
Use All Cash to Purchase of Approx $216,500
Est Lease Option Rental Rate: $1650
Est Lease Option Sale Price: $270,000 – $275,000
Est Cash on Cash Return = potential of 9.15% on $1650 rent

PLAN B: BUY – PUT ON CONVENTIONAL LOAN – HOLD
Estimated Conventional Loan to Purchase in Amt of $160,000 at 4% / $788 per month P&I
Est Upgrade Costs: $5,000
Estimated All in Cash Investment: $36,750
Est Rental Rate: $1450 / Buyer to Verify – $788 – $301 RE tax – $50 Ins
Est Monthly Cash Flow: $311

Spanaway Rehab COMPS: Click here
Spanaway Rehab PHOTOS: Click here

Wholesale Details: Lease Option Exit, Seller Financing Exit or Buy/Hold Exit
3 bedroom x 2.5 home home in gated community. Minor repairs needed. Location! Location! Close to walking trail leading straight to elementary, middle and high schools. Close to shopping, golf course. Enjoy the community amenities including private parks. Good one to pick up for lease option or seller financing exit!

Repairs Needed:
The property needs light fix up. Some roof work needs to be completed(patches of shingles missing), few areas of drywall work, and the back deck should be looked at, the yard was overgrown,other than that some paint and other minor things.

Additional Info:
– Earnest Money is $500 payable to Escrow Services of Washington upon assignment
– Closing Date: 5/27/16 (potential to possibly extend close date)

For Showings Contact you MUST call or text:

DISCLAIMER: Buyers may not rely on this information and must do their own review of all the numbers and information in regards to this property.