Saturday Steal of the Week: 03-17-2012

1416 Chelsea Way $112,500
 
Monthly Cash Flow: $400
 
1416 Chelsea Way, Stockton, CA 95209:  A Lodi Unified School district find is a simple, yet demandable, 3 bed 2 bath home.  It is a comfortable 1440 sqaure feet.  Rental homes like this in Stockton are in demand.  As more and more home owners elect for short sales and foreclosure, many are considering downsizing into homes like this one.  This one is in a well maintained neighborhood that should continue to be so. 
Monthly rent on a home in this neighborhood is in the $1150-$1250 range.  Monthly payments, including taxes and insurance, would be around $689* a month.  After a property management fee, of $96, cash flow should bring about $400 a month.  The home inside does need a little bit of work.  It needs a fresh coat of paint and I would recommend removing the undesireable wall paper. In addition the back yard needs clean up and maybe some additional work to make it functional.
 
For more info on this property or investing in Stockton Real Estate, contact me.  Email, mckeeverrealestate@gmail.com or calll (209)483-6523
 
David
 
 
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