SFR Detached Investment Property

SFR Detached Investment Property

Deal Summary:
Subject property is a 2 story detached residence, 6 bedroom, 4 full 1 half bath. The lot is 0.92 acre with swimming pool, putting green, basketball court, and sand volleyball court. The interior has been completely remodeled. We photographed the property and it is in excellent condition.
Exit Strategy:
The property is currently listed for sale at $929,000. Loan will be repaid from sale proceeds.

Property Type: SFR Detached, Built 1996
Subject Property: W La Madre Way, Las Vegas, NV 89149
APN #: 125-33-802-002
House SF.: +/- 5,009 sf
Lot Size: +/- 0.92 acre
Loan Amount: $ 400,000
Appraisal: See comps below.
Loan Exposure (PSF): $ 79.86
Loan-to-cost:  50 %
Interest Rate: 11% interest only, paid monthly, plus 1 point at closing
Debt-to-Income Ratio 40 %
Maturity: 6 months
Extension Provision: At lender’s discretion.
Collateral: First Deed of Trust on subject property.
Comps: 8910 W La Madre Way sold 11/26/2013 for $625,000 at $124.55/sf;7967 Sherman Oaks Ave sold 10/31/2013 for $1.23M at $283.54/sf;

7941 W Washburn Rd for sale for $750,000 at $136.36/sf;

8040 W Red Coach Ave for sale for $999,000 at $209.39/sf

Closing Costs: Paid by borrower
Guarantor: (borrower)

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