No Deposit Home, 4 Units, 100% finance available in BARFOLD, Victoria for sale

No Deposit Home, 4 Units, 100% finance available
This is a perfect home for a big family or an investor who is looking for a neutral geared cash-flow investment property with 100% finance. One of our mortgage brokers can arrange for you a $560,000 loan from the bank and we can arrange vendor finance for your deposit portion, stamp duty and legal fees with bank rates. This is a truly neutral gearing property with 100% finance, No Deposit! Interest rate for the finance will be a standard variable home loan rate (note: 4.94% at the moment)
INCOME
The property has 4 units with the following rental income
Unit 1: Rent: $250 per week
Unit 2: Rent $220 per week
Unit 3: Rent: $210 per week
Unit 4: Rent $867 per month
TOTAL Rental Income: $45,764 per year
EXPENSES
- Mortgage interest: $700,000 x 4.94% = $34,580
- Council Rates: $1,914
- Water Rates: $3,408
TOTAL expenses: $34,580 + $1,914 + $3,408 = $39,902 per year
$45,764 - $39,902 = $5,862 (prior to agent fees)
You can buy this rare property with minimal outlay.. This property offers endless possibilities!
Property Features:
Unit 1
• Two Bedrooms, Kitchen, Bathroom, Lounge, Balcony
Unit 2
• Two Bedrooms, Kitchen, Bathroom, Lounge,
Unit 3
• Two Bedrooms, Kitchen, Bathroom, Lounge
Unit 4
• Two Bedrooms, Kitchen, Bathroom, Lounge, Dining area
IN TOTAL
• 8 Bedrooms, 4 Bathrooms, 4 Lounges, 4 Kitchens, Dining Area
• High Ceilings
• Gas heaters
• Quality carpets and tiles throughout