For Sale $169,900.00 - Condominium
Priced to Sell!! Check out this quaint condominium that’s located along Pacific Avenue in beautiful Wildwood Crest. The beach is just a short 3 blocks away and that makes renting this condo very easy. This condo has excellent rental history, so if you’re looking for a positive cash flow property, see my additional notes below. There are only 6 units in this condo association and the landscaping is kept well groomed. The association is very strong and solvent, and yet maintains keeping the condo fees very low. The interior is one of the best parts about this condo unit, the unit offers 2 bedrooms, spacious bathroom with closet space and full size tub/shower. The carpeting throughout is in like new condition. The kitchen is what stands out in this unit, with high-end kraftmaid cabinets, granite counters, granite backsplash and ceramic floors. Call today for easy showing.
If this condo was purchased at asking price with 20% down payment ($33,980.00), financing of $135,920 for 30 years @ 4.5% interest, your principle & interest would be $688.69 per month, add in $162.50 (Taxes) and Condo Fee $120.00 (Includes Hazard and Flood Insurances) will bring your total mortgage payment too $971.19. Wildwood Crest 2 bedroom condo with a mortgage payment under $1,000.00, that’s unheard of, whether it’s 2nd home or investment property this payment makes sense, now factor in this unit easily generates $10,000.00 in gross rents based on 10 week renting season. There are normally 16-17 rent-able weeks, (unit should generate an additional $2,500.00). If 2019 you gross $12,500.00 in gross rents this unit will offer positive cash flow, it’s rare for island properties to offer positive cash flow within the 1st year of purchase. That makes this condo a great investment, your buying in a great town, your building equity, and your adding a sensible tax deduction for your Personal Income Taxes, I’m sure your accountant would agree with me. If this condo is not a good fit for you please spread the word to your family and friends, this is a great investment opportunity. Financing Estimates above are for simple qualifying only, many factors go into determining a buyers mortgage payment such as: Credit Worthiness, Payment History, Debt to Income Ratios, and Bankruptcy History. Call today for easy showing of this property and to be financially qualified to purchase this condo or another value added property on the market.