If you’re looking for an excellent investment property, then this Delaware investment property for sale is worth considering. The property has been a rental for many years and has been consistently generating income. The property is being sold AS-IS, and its condition may not qualify for FHA, VA, or USDA financing without repairs. However, this should not be a cause for alarm as the property has excellent potential and can be a great investment opportunity.
The property features three reasonably sized bedrooms, a nice living room with a bay window, a dining room, and a kitchen. There is one full bath and a full basement with a bilco door. The home has baseboard heat and one wall unit that cools the entire home, which was new in 2018. In 2018, a new dishwasher was installed, and in 2021, a new washing machine and kitchen flooring were added. These updates ensure that the property is comfortable and modern, making it an attractive rental property.
One of the best things about this investment property is that it has recently been connected to the county sewer system. This is a significant upgrade that will save you money in the long run, as you won’t have to worry about septic system maintenance and repairs. The property also has current tenants in place, who have been given notice to vacate by 06/30/2023, but would love to stay. The current rent amount is $1200/month, meaning that you can start earning on your investment right away.
It’s worth noting that the property is being sold AS-IS, and the seller will not make any repairs. However, the property’s excellent location and potential for generating income make it a great investment opportunity. With a little bit of TLC, you can transform this property into a desirable rental unit that can generate significant income.
In conclusion, if you’re looking for an investment property that has great potential for generating income, then this Delaware investment property for sale is worth considering. The property has excellent features, including three bedrooms, a full basement, and recent updates. Additionally, the property is connected to the county sewer system, making it a low-maintenance investment. The current tenants would love to stay, and with the right updates, you can transform this property into a desirable rental unit that can generate significant income. Don’t miss out on this fantastic investment opportunity!
416 E Cherry Dr, Magnolia, DE 19962