2 Bedroom Close To Everything!
June 18th, 2008 categories: Buying Honolulu Real Estate
This 2 bedroom 1.5 bathroom condominiums is offered at $279,000. It has an interior square footage of 750 square feet, as well as a 75 square foot lanai with views of the Koolau Mountains and city lights. The building is perched on ridge that makes the unit cool due to the breezes that come from the valley below. Not only is the unit well located, but also it is also very clean inside. There is a tenant in the unit through the end of June and they have been paying $1,475 per month. You should be able to re-rent it in this range. The following is a brief analysis of a possible investment scenario based on a rental rate of $1,475 per month.
Monthly Expenses
Maintenance fee $246
Property Taxes $88
General Excise Tax $70
Total $404
Monthly Rent $1,475
Less Expenses $404
Net Income Before Mortgage Payments $1,071
CLICK HERE TO GET A COPY OF COMPARABLE SALES.
An investor mortgage payment of $1,071 at 6.5%, amortized over 30 years will carry a mortgage of $169,000.
Based on a down payment of $110,000, this apartment is very close to a break-even cash flow.
Cliffside Villages at Waipio is located at the hub of the H-1 and H-2 freeways. It is close to Schofield Barracks, Mililani, Pearl City/Aiea and Kapolei. All of these areas offer excellent shopping, dining and entertainment opportunities. Call me at 808-737-2093 or toll free at 877-737-2093 to see if this might meet your investment needs.
Note-please don’t rely on this information to make your investment decision. Make sure that you confirm the validity of the numbers contained in this analysis.
