The bundle of properties includes: 10 units consisting of 4 duplexes, and 2 single-family units in Flint Michigan. The seller is also including a ¼ acre land lot in the Pocono’s in Pennsylvania. The starting bid is an incredible $35k for the bundle.
Flint, MI -- (SBWIRE) -- 06/04/2012 -- A real estate investor located in Flint Michigan is unloading a bundle of properties on Ebay for an incredible low starting bid price of $35,000. The seller is offering no financing, no land contracts, and no rent to own. This is strictly a Cash Only Deal. The Properties will be sold on a Quit Claim Deed. The preferred payment methods are cash, bank wire transfer, or certified bank check. Starting Bid for all properties with no reserve is $35,000.
The units can be unbundled and bidders may purchase 1 Duplex alone for the price of $9,000, or purchase a single-family house alone for $6000. If buyers compare they will see how reasonable these properties are priced. The owner reports that there is a local property manager who collects rents and rents the properties making this a turnkey operation for an out of town investor. Incredibly, the owner is throwing in a lot located in the Pocono Mountains in Pennsylvania, which would make a great location for a retirement home or vacation retreat.
The addresses of the properties with their rental rates are as follows:
1817 Mabel Avenue (Duplex Rented@ $900 per month)
1721 Leith Street (Duplex Rented@ $900 per month)
2021 Levern Street (Duplex Rented@ $900 per month)
913 Root Street (Duplex Rented@ $900 per month)
2017 Levern Street (Single- Rented@ $420 per month)
1601 Bennett avenue (Single-fixer upper not rented)
Lot35 Seneca Drive, Gouldsboro Pa (gated lot)
The owner pays all utilities, which averages $300 per duplex and $125 for the single family homes, which gives you an idea of what the cash flows are generated from this investment.
About Common Questions
The seller has attempted to answer some common questions that might be helpful to potential buyers: