Hi Below are the details and let me know if you need more info. We are considering moving to a lower cost area near family. I am handy at fixing stuff but have never owned a rental. We would be too far away where i would most likely want to hire a rental company to manage it:
Market Value: 380,000 or more
Original Purchase price: 165,000 (2009)
Original Mortgage Amount: 155,000
Interest Rate: 3.5
Mortgage Term: 30 year 3.5%
Term remaining: 26 years (refinanced to a lower rate and to drop PMI a few years ago .
Amount remaining on mortgage: 142,000
Gross Rents: similar houses rent for around 1800 - 2000
Principal and Interest (the P&I of your PITI - should match with the above info): 3.5 no PMI
Taxes and Insurance (the T&I of your PITI): around 120 a month (we pay 910 every month to cover mortgage, insurance and tax
HOA costs: no HOA
Deferred maintenance notes: new roof new windows new garage new water heater new siding, new doors ....might need a new furnace in 3 - 10 years...
Anything else special or unique in regards to the numbers of the property : Denver Metro area huge increases since purchased desirable area near a nice part of downtown, highways,parks etc...