$109,140
$114,900
5.0%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
800 SqFt
SOLD DATE : 08/24/2023
Key Details
Sold Price $109,140
Property Type Condo
Sub Type Condo/Co-op
Listing Status Sold
Purchase Type For Sale
Square Footage 800 sqft
Price per Sqft $136
Subdivision Brandywine Hundred
MLS Listing ID DENC2045404
Sold Date 08/24/23
Style Other
Bedrooms 2
Full Baths 1
Condo Fees $308/mo
HOA Y/N N
Abv Grd Liv Area 800
Originating Board BRIGHT
Year Built 1968
Annual Tax Amount $1,518
Tax Year 2023
Lot Dimensions 0.00 x 0.00
Property Description
Attention Condo Investors Only: High-Yield Investment Opportunity with Turn-Key Convenience
Add this exceptional rental property to your IRA portfolio and enjoy an already established NET Cash Flow of approximately $1,100 per month. Generating a reliable income from in-place rent, this condo offers a stable and hassle-free investment.
The condominium association is efficiently managed, taking care of all exterior maintenance, and maintains a fully funded Reserves account for added security. Meanwhile, the responsible tenant ensures all interior maintenance, leaving you with nothing to worry about except collecting your rent. With automated Direct Deposit on the 1st of each month, you can count on a consistent income stream.
This property boasts a long-standing corporate tenant-in-place since April 2016, demonstrating their commitment to staying long-term. The lease is auto-extending yearly with automatic 3% increases, further enhancing your returns. The tenant has also paid a full security deposit and handles utility payments directly.
While this deal is all about the numbers, inside, the unit features attractive upgrades, such as 42” tall kitchen wall cabinets, stainless steel “Frigidaire” appliances, and butcher-block counters. Notably, this unit includes a rare, grandfathered-in, in-unit full-size stacked washer and dryer. Upgraded electrical wiring and circuit panels ensure a modern and safe living environment. Tongue and groove red oak hardwood floors add a touch of elegance throughout, while the bedrooms feature high-grade wall-to-wall carpeting and elegant crown molding. Ample storage includes a master "walk-in" closet and full mirrored sliding closet doors in the secondary bedroom.
Heating is provided by a community-forced hot-water radiant baseboard system, and the unit is equipped with a 'through-the-wall' AC unit for climate control.
Please note that the property is "Drive-by Only," and any offers should be subject to inspection. Don't miss out on this excellent investment opportunity with a secure and reliable cash flow.
Location
State DE
County New Castle
Area Brandywine (30901)
Zoning RES
Direction East
Rooms
Main Level Bedrooms 2
Interior
Interior Features Ceiling Fan(s), Carpet, Wood Floors, Window Treatments
Hot Water Natural Gas
Heating Baseboard - Hot Water
Cooling Wall Unit
Flooring Other
Equipment Built-In Microwave, Dishwasher, Disposal, Dryer - Front Loading, Dryer - Electric, Oven/Range - Gas, Range Hood, Refrigerator, Stainless Steel Appliances, Washer - Front Loading, Washer/Dryer Stacked
Furnishings No
Fireplace N
Window Features Screens,Sliding
Appliance Built-In Microwave, Dishwasher, Disposal, Dryer - Front Loading, Dryer - Electric, Oven/Range - Gas, Range Hood, Refrigerator, Stainless Steel Appliances, Washer - Front Loading, Washer/Dryer Stacked
Heat Source Natural Gas
Laundry Washer In Unit, Dryer In Unit, Common
Exterior
Garage Spaces 1.0
Parking On Site 1
Utilities Available Cable TV Available, Natural Gas Available, Phone Available
Amenities Available Laundry Facilities, Meeting Room, Party Room, Picnic Area
Waterfront N
Water Access N
Roof Type Unknown
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 1
Garage N
Building
Story 3
Unit Features Garden 1 - 4 Floors
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories 3
Additional Building Above Grade, Below Grade
Structure Type Other
New Construction N
Schools
School District Brandywine
Others
Pets Allowed N
HOA Fee Include Alarm System,All Ground Fee,Common Area Maintenance,Ext Bldg Maint,Insurance,Laundry,Lawn Care Front,Lawn Care Rear,Lawn Care Side,Lawn Maintenance,Reserve Funds,Sewer,Snow Removal,Trash,Water
Senior Community No
Tax ID 06-139.00-061.C.0107
Ownership Condominium
Security Features Exterior Cameras,Intercom,Main Entrance Lock,Smoke Detector,Surveillance Sys
Acceptable Financing Cash, Other
Horse Property N
Listing Terms Cash, Other
Financing Cash,Other
Special Listing Condition Standard
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Bought with Dawn M Myers • RE/MAX Action Associates
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "