44 N Lincoln Street

42 & 44 LOCATION! LOCATION! LOCATION! Fully furnished Rent to own for $8500/mo for 2 year master lease on both houses. With a 250k option Down payment to buy the property at a fixed price in two years. At 2.1 million. A monthly rent credit of $3500 for the entire 2 year lease will apply towards the purchase price. Which, if you choose to go the full duration of the 2 year lease? That's an additional $84,000. So at the end of the two year lease, you'd receive 250k of your option money credit and $84,000 of the rent credit, and of course, the $8500 original security deposit. So that is a total credits towards the purchase of $342,500
So $8500 First months rent and $8500 security deposit. In addition to the 250k option money, will be due at least signing
So a total of $267k down to start. Which is 12.7% to control $2.1 million property which is unheard of in this market?
Then with an additional cash down payment of $757,500 After the 2 year lease. Will sell these 2 houses to you on an owner finance note as your 1st mortgage @ 3.5% Seller Financing. Front and Back Homes both included. If you choose not to exercise your option to buy, you will forfeit the 250k option money. But you could still maintain another two year lease as master tenet at 9k/mo. Ellsworth and Lincoln St. 2 houses on Lot total of 6 bedroom 5.5 baths Owner Carry. Available Immediately
Or Buy Today at Price 2.1 million with 1.1 million down. Owner will carry the balance of 1million @ 3.5% for 30 years with No Balloon. PI $4490.45/mo. for Principle and interest? and you pay the taxes and insurance. Not interested in any other lower down payments Because these down payments will be used to pay off the existing bank loan. The down payment cannot be borrowed funds. The 3.5% for the remaining balance to a creditworthy buyer down the road if you want to keep Existing owner as banker. THIS PROPERTY WILL SUPPORT THE ZONING TO GO 5 LEVELS HIGH