4 Beds 3 Baths in Lake Charles, LA

Presenting an exceptional turnkey Subto opportunity in Lake Charles, LA 70607! This spacious home, built in 2020, offers 2,473 square feet of modern living space, featuring 4 bedrooms and 3 bathrooms. The property will be vacant at closing, ready for immediate occupancy or rental. With a purchase price of $302,000 and a remaining mortgage balance at closing of approximately $267,000, this deal includes arrears of around $20,000. The conventional loan comes with an exceptionally low interest rate of 3.125%.

The current PITI is $2,115.27, which includes shortage and escrow reserve payments, but this will end after August 2024. Starting in September 2024, the new PITI will be $1,766.55 per month, comprising $1,196.05 for principal and interest, $402.98 for taxes and insurance after the shortage catch-up, $167.52 for private mortgage insurance, and a $30 HOA fee, with no rental restrictions.

This property offers various exit strategies, including long-term rental (LTR) at $2,100 per month, mid-term rental (MTR) at $2,250 or more per month, short-term rental (STR) at $2,000 or more per month, and the potential for a wrap for additional profit. The total entry fee is $40,000, which covers arrears, commission, and assignment, plus transaction coordinator and closing costs. Closing is set on or before May 31, 2024.

This home in Lake Charles presents a lucrative investment opportunity with flexible rental options and no restrictions. Secure your investment with a total entry fee of $40,000 plus closing costs and transaction coordinator fees, and prepare to maximize your returns with its low interest rate and new PITI starting in September 2024.

Details

Property ID
SPSP-18133

Bedrooms
3

Bathrooms
2

Property Size
2473

Entry Cost ($)
45000

APR (%)
3.125

PITI ($)
2115

Balance ($)
267000