4 beds 3 baths in Portsmouth, VA

Unlock the potential of this turnkey Subto opportunity located in Portsmouth, VA. This charming property, built in 1941, features 4 bedrooms and 3 bathrooms spread across 1,309 square feet, nestled on a 5,227 square foot lot. The home is being offered at a total purchase price of $290,400, with a current mortgage balance of $260,910.03. The mortgage comes with an appealing interest rate of 3.875% and matures in February 2052, ensuring stable, long-term financing without the worry of a balloon payment.

This investment is tailored for versatility in rental strategies, boasting potential rental incomes ranging from $2,000 to $2,200 for long-term rentals, $2,800 to $3,100 for mid-term rentals, and over $3,500 for short-term rentals. Such flexibility allows you to maximize your investment according to market conditions and your financial strategy.

The entry fee is set at $29,400, plus closing costs and transaction costs, with a non-refundable earnest money deposit of $5,000 required to secure the deal. Closing is scheduled for April 30, 2024. Whether you’re looking to engage in long-term, mid-term, or short-term rental opportunities, this property provides an excellent foundation for a profitable real estate venture in a desirable Portsmouth location.

Details

Property ID
SPSP-17955

Bedrooms
4

Bathrooms
3

Garage
1

Year Built
1941

Entry Cost ($)
29400

APR (%)
3.875

PITI ($)
1715

Balance ($)
260910