If you are looking for an excellent investment property in Delaware, then this might be the perfect opportunity for you. This investment property has been a rental for many years and is now available for sale. The property is being sold AS-IS, which means that the condition will not qualify for FHA, VA, or USDA financing without repairs, and the seller will not make any repairs. However, despite the need for repairs, this property has a lot to offer.
The property has three reasonably sized bedrooms, a nice living room with a bay window, dining room, and kitchen. There is one full bath and a full basement with a bilco door. The property has baseboard heat and one wall unit that was new in 2018, which cools the entire home. In 2018, a new dishwasher was installed, and in 2021, a new washing machine and kitchen flooring were installed.
This property is a great income-producing opportunity, and it has recently been connected to county sewer. Currently, tenants are in place, but they have been given notice to vacate by 06/30/2023. However, if you are interested in keeping them as tenants, they would love to stay. The current rent amount is $1200/month, which means you can start earning on your investment right away.
Investing in real estate can be a great way to earn passive income, and this Delaware investment property is an excellent opportunity to do just that. Although the property needs repairs, it has a lot of potential and can be a profitable investment for the right buyer. So, if you are looking for a property that can generate income and appreciate in value over time, this investment property in Delaware might be the perfect opportunity for you.
416 E Cherry Dr, Magnolia, DE 19962