This charming one-story 3 bed / 1 bath ranch home with a detached 2 car garage is currently under the ownership of the ULECx Market through our subsidiary company 3948 Kyle Lane, LLC. Our desire is to share 80% ownership equity of the asset to a caring landlord or family. The greatest opportunity for this house is to convert to a full 3 bed / 2 bath home (see potential here)
Home share or sale options
- Share Option 1: Purchase price is $260k with a $90k down payment
$90,000 down payment and make monthly payments of $1,400 to pay down the current mortgage over 15 years. ULECx will retain 20% equity of the property and receive 5% of net rental income or an equal amount paid in property tax for resident owner. Sales and closing costs covered by the buyer.
- Share Option 2: Cash Purchase of $260k
Pay $260k in cash which is enough to pay off the entire mortgage currently on the property. ULECx will retain 20% equity of the property and receive 5% of net rental income or an equal amount paid in property tax for resident owner. Sales commission and closing costs covered by the buyer.
- Sale Option 3: Complete buyout with a purchase price of $305k
ULECx Market prefers to share equity rather than sell the property however we might consider a traditional sell if the purchase agreement is for $305k or more. Sales commission and closing cost covered by the buyer.
Take a virtual home tour here:
Please review these drawings to see the potential for converting the home to a full three-bed two-bath property.