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Price: 150K ($81/sqft) Size: 1852 sqft 3 bd, 2 bath, 3 car garage, built 2002 Sale history 01/24/2003: $217,500 02/13/2008: $284,551 (foreclosed mortgage balance) 2006 highest value est.: 448K Location: Stockton (Weston Ranch)
![Front](http://i40.tinypic.com/9hszu9.jpg)
![Door, Office](http://i41.tinypic.com/w1fddl.jpg)
![](http://i42.tinypic.com/180nfb.jpg)
![Family Room](http://i40.tinypic.com/28jvdkj.jpg)
![](http://i39.tinypic.com/14o6afb.jpg)
Rough cash flow analysis:
Rent: $1495/month (first ads. in Craigslist asking for $1475, but found out the rent market is demanding) 1st Loan: 120K (30Y fixed at 6.375%): P and I: 748/month (no closing cost) 2nd Loan: 30K (HELOC at 5%): Interest only 125/month
Mortgage payment: 873/month Tax: 149/month Insurance: 45/month
Total net cost: 873 + 149 + 45 = 1067
Initial remodeling: $5000 - paint, tile flooring, and back yard concrete.
$1495 - $1067 = $428/month positive. (not counting vacancy & maintenance, only for entertainment/educational purpose) |
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