Mansfield Avenue
Purchased: September 2017
Price: $149,900K
Terms: Fannie Mae 30-year, 4.5%
Exit: Sell into the next run-up
Overview: A simple starter property, it has rented well at over twice the debt payment each month. Not much maintenance and have had stable tenants with light cosmetic work in between leases.
Exit Plan: Comps have started to eclipse 250K for the same unit in this complex. We will look to sell and 1031 exchange this since there is so much gain.
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