SALE LEASEBACK · 2 YEAR LEASE IN PLACE · SUBTO 2.75% LOAN · 50K IN · MAPLE PARK IL Walnut Ave, Maple Park, IL 60151
PURCHASE PRICE:
$320,000
Net to Seller
ARV 389K+ Depending on Scope of Work
DEAL STRUCTURE:
No bank qualifying. Take it over subject to (keep the seller's existing loan in place).
Cash to close: 50K
1st Mortgage: about 243K at 2.75%, PITI 2,690
2nd: HUD lien about 28K at 0% interest
Lease back to seller: 24 months at 2,890/mo year 1 and 2,990/mo year 2
Seller option to buy back at 359K
Est. net profit 67,348 | 134.5% return on cash over 24 months (67.3% annualized) | 2.35x equity multiple
PROPERTY TYPE: Single Family Residential
ROOMS: 4 BD / 2 BA
SQFT: 3,226 plus 1,408 unfinished basement
LOT: 10,107 | 0.23 Acres
YEAR BUILT: 2006
PARCEL: Kane County 07-31-180-024
CALL FOR ACCESS: Seller occupied, showings by appointment
TERMS: Cash at COE | Subject To | Buyer pays all closing costs | COE by November 20, 2026
DETAILS:
This is a turnkey cash flow position on a 2006 build in Maple Park, Kane County. The seller stays in the home and leases it back for 24 months at 2,890 a month in year 1 and 2,990 a month in year 2. That covers the 2,690 PITI on the existing 2.75% first mortgage, and the HUD second carries 0% interest. The seller is not in foreclosure and earns about 100K a year. At the end of the lease the seller can buy it back at 359K or sell it for more. If they don't, you hold a 3,226 sqft home with a low rate loan already in place. Inside you'll find 4 bedrooms, 2 baths, and a kitchen with an island and dark wood cabinets. The primary suite has a walk-in shower, a soaking tub, and a double vanity. The full 1,408 sqft basement is unfinished. HOA is about 250 a year. Buyer to perform own due diligence.
Disclaimer: Offered as an assignment of the contract (equitable interest). Buyer to verify all information including square footage, lot size, room count, zoning, lease terms and tenant rights, loan balances and terms, due on sale risk, utility connections, permitting, mechanical systems, and property condition prior to closing.
CALL or TEXT FOR MORE INFO
(623) 283 2623
COMPARABLE SALES:
Settlement Dr | Sold 300,500 (Single Family | 3,160 sqft | Maple Park 60151)
(623) 283-2623
[email protected]
