2 Bedrooms 2 Bathrooms with 2 Parking For $225,000?
June 23rd, 2008 categories: Buying Honolulu Real Estate
Yes its true! This 2 bedroom 2 bathroom Sun Rise Town Home was built in 1993 and comes with 2 parking stalls. It has an interior square footage of 811 square feet, as well as a 60 square foot lanai. There is plenty of guest parking in the immediate area and at the center of the complex is a beautiful pool and cabana area. Walk to get your groceries or a latte. The carpet is brand new and the unit is very, very clean! Just bring your furniture, belongings and tooth brush to move right in right now! Or the unit will rent in the range of $1,395 and it may back a great rental property. The following is a brief analysis of a possible investment scenario based on a rental rate of $1,395 per month.
Monthly Expenses
Maintenance fee $315.27
Association $25
Property Taxes $75 (estimated)
General Excise Tax $66
Total $481.27
Monthly Rent $1,395
Less Expenses $481.27
Net Income Before Mortgage Payments $913.73
An investor mortgage payment of $1,071 at 6.5%, amortized over 30 years will carry a mortgage of $144,400.
Based on a down payment of $80,600, this apartment is very close to a break-even cash flow.
Call me at 808-737-2093 or toll free at 877-737-2093 to see if this might meet your investment needs.
Other Available Investment Properties
3 Bedroom near University of Hawaii!
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.
Cool video!
Aloha!
Just wondering what would the monthly payments be if I tried to purchase the Ewa Beach unit thru a VA Loan?
Thanks ~ stan