Description
First open house is this sat feb 22nd 10am-12pm.
amazing multifamily duplex (cash-machine) for sale in a prime location in winchester city. super convenient location! less than half a mile from the old town winchester historic walking mall. large back yard with off street parking in the back accessible from kern ln. combined rents of $40,380 a year with potential to push to $43,200. this is perfect for a house-hacker, first time investor or a seasoned investor looking to expand their portfolio. looking to place 1031 funds somewhere? this may be the perfect spot! seller will consider owner financing at an interest rate as low as 4.875%. see details below.
on the second level of this duplex is a 3 bed, 1 bath unit that was just renovated in jan 2025 with new luxury vinyl plank flooring, new paint and an updated bathroom. seller is planning to leave this unit vacant for 2 weeks so that we can show it to interested buyers. available to show now. this will be on the market to rent for $1800 a month. if you accept section 8 or housing vouchers then you have potential to increase it even more. the hud fmr for 3 bedrooms were just updated to $1952/mo in this area.
on the main level is a 2 bed, 1 bath unit that was fully renovated in 2021 with new lvp and amazingly refinished hardwood floors, brand new bathroom, all new paint and stainless kitchen appliances. great long term tenant renting through dec 2027! she said she hopes to stay there forever if possible! current rent is $1565/mo with an 5% increase each year. photos shown for this unit are from before existing tenant moved in. no showings available for this unit (please do not disturb tenant) however a $2700 security deposit will be transferred to new owner at settlement for this lease.
financing options:
1. if you are looking to "house-hack" you may qualify to buy this with 0-5% down using an fha, va or owner occupied conventional loan. live in one of the units and have the tenant in the other unit help drastically reduce your mortgage payment! the current rental income may actually help you qualify for a higher mortgage than you normally would without it. live there for a year or so, then move on to your next purchase...and guess what? you just purchased a cash-flowing rental property in an appreciating market for 0-5% down! that is unheard of! result. positive cashflow and you start your path as a house-hacking jedi. welcome padawan..
2. or rent out both sides and purchase with a 20-25% down conventional loan through a traditional lender based on your debt to income. result. positive cashflow!
3. don't want a loan based on your debt to income? we have great investment lenders who can help you purchase this with 20-25% down based on the rental income of the property alone! these loans are amazing! your income does not matter. you purchase in an llc, not in your name, and the loans typically do not show up on your personal credit report! result. positive cashflow and you dip your toe into a galaxy of endless opportunities that 99% of investors don't event know about. welcome captain kirk..
4. creative financing: seller financing/ owner financing wrap. the price for this option is $472k. have at least 35% down? if so the seller would entertain seller financing at below market interest rates. 35% down gets you a 6.5% interest rate, and 50% down gets you a 4.875% interest rate! 30 year amortization. no balloon payment. result. crazy positive cashflow and you unplug from the matrix completely. welcome neo..
5. cash purchase? yup, cash is still king. seller is offering a buy it now price of $438k for a quick cash sale. result. uber positive cashflow!
Property Type
Multi-FamilySubdivision
None AvailableCounty
WINCHESTER CITYStyle
ColonialAD ID
48605498
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Property Details
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Interior Features
Water/Sewer
- Water Source : Public
Interior Features
- 2nd Kitchen
- Roof : Metal
- Property Appliances: Built-In Microwave,Oven/Range - Electric,Refrigerator,Stainless Steel Appliances
Roofing Information
- Metal
Heating & Cooling
- Cooling: Ceiling Fan(s)
- Heating: Baseboard - Electric
- Cooling Fuel: Electric
- Heating Fuel: Electric
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Exterior Features
Building Information
- Year Built: 1920
- Structure: Twin/Semi-Detached
- Major Appliances: Built-In Microwave,Oven/Range - Electric,Refrigerator,Stainless Steel Appliances
- New Construction: No
- Total Units: 2
- Built: 1920
- Construction Material: Vinyl Siding
- Roof: Metal
- Foundation/Basement: Other
- Architecture: Colonial
- Pool/Private: No Pool
- Roof Type: Metal
Pool Information
- Pool: No Pool
Utility Features
- Sewer: Public Sewer
Water
- Water Heat: Electric
-
Property / Lot Details
Lot Information
- Lot Size: 5,750
- Lot Size (Acres): 0.13
- Architectural Style: Colonial
- Stories Total: 2
- Main Square Feet: 5,750
Property Information
- SQ ft: 1,694
- SQ ft (Living Area): 1,694
- Total Lot SQ ft: 5,750
- Subdivision: NONE AVAILABLE
- Financing: Cash,Contract,Conventional,FHA,Installment Sale,Lease Purchase,Negotiable,Seller Financing,VA,VHDA,Wrap,Other
- Total Acreage: 0.13
- New Construction: No
- Type: Colonial
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Listing Information
Listing Information
- Possession: 0-30 Days CD,Negotiable,Subject to Existing Lease
- Days Of Market: 1
-
Taxes / Assessments
Tax Information
- Annual Tax: $1,429
- Tax Year: 2022
- Total Taxes Payment Frequency: Annually
Possession
- 0-30 Days CD,Negotiable,Subject to Existing Lease
Assessment Information
- Taxes Assessment Amount: $153,700
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Virtual Tour, Parking, Multi-Unit Information & Homeowners Association
Parking Information
- Parking Features: Asphalt Driveway,Free,Paved Driveway,Paved Parking,Private
- Parking Type: Alley,Driveway,Off Street,On Street
Multi-Unit Information
- Acceptable Financing: Cash,Contract,Conventional,FHA,Installment Sale,Lease Purchase,Negotiable,Seller Financing,VA,VHDA,Wrap,Other
- Roof: Metal
Homeowners Association Information
- Direction: From the walking mall entrance, head east on E Piccadilly for one block and swing a left at Piccadilly Grill Diner which takes you to North Cameron St. Head down North Cameron and the property is on the left. Off street property at the back accessible from Kern Ln.
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School, Utilities & Location Details
School Information
- School District: WINCHESTER CITY PUBLIC SCHOOLS
Utility Information
- Water Source: Public
- Sewer: Public Sewer
- Cooling Fuel: Electric
- Heating Fuel: Electric
- Hot Water: Electric
Location Information
- Direction: From the walking mall entrance, head east on E Piccadilly for one block and swing a left at Piccadilly Grill Diner which takes you to North Cameron St. Head down North Cameron and the property is on the left. Off street property at the back accessible from Kern Ln.
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BuyOwner last updated this listing 02/21/2025 @ 20:29
- MLS: VAWI2007166
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: BRIGHT MLS
is a Other, with 0 bedrooms which is for sale, it has 1,694 sqft, 5,750 sized lot, and 0 parking. A comparable Other, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of WINCHESTER , in zip code 22601, this WINCHESTER CITY County Other , it is in the NONE AVAILABLE Subdivision, are nearby neighborhoods.