Description

This is RENT TO OWN home (lease with option to buy). The home needs quite a bit of work. It was lived in about a year ago but there is dry rot/joist issues in a few spots of the home. It could be a very nice little place for someone or a good stepping stone for an investor or first time investor to add to their portfolio of rentals. Sweat equity would go a long way and this would be a good way to get into a home and not be upside down in it or be attached to a high interest rate. The monthly amount is rent. A consideration amount of $4500 is needed as well as proof of ability to rehab the home. Purchase price is higher versus cash and would be $84900. Cash price $69,900. This would be comparable to a triple net lease where tenant would take over all responsibilities of home ownership including maintenance, property taxes, and insurance payments.