Description
Unique investment opportunity available! House is currently occupied by a tenant with rights to the home until death or default. The buyer will not be able to live in the home until that time. Current tenant (74 years old) is responsible for all taxes, repairs, and must keep the house well- maintained. There is currently a $400,000 mortgage on the home that the tenant is required to make monthly payments on. He has never missed a payment 18 years. In 12 years the house will be debt free and if he lives longer he must continue to pay all real estate taxes. Estimated value of home is $1,300,000 right now. Prospective buyers will only be allowed inside the property with an accepted offer.Current pictures and floor-plans available shortly.
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4BEDS
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0.22ACRES
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3BATHS
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01/2 BATHS
School Ratings & Info
Description
Unique investment opportunity available! House is currently occupied by a tenant with rights to the home until death or default. The buyer will not be able to live in the home until that time. Current tenant (74 years old) is responsible for all taxes, repairs, and must keep the house well- maintained. There is currently a $400,000 mortgage on the home that the tenant is required to make monthly payments on. He has never missed a payment 18 years. In 12 years the house will be debt free and if he lives longer he must continue to pay all real estate taxes. Estimated value of home is $1,300,000 right now. Prospective buyers will only be allowed inside the property with an accepted offer.Current pictures and floor-plans available shortly.
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Data last updated 2025-07-14T07:46:13.12.