Only one year young. This property was built in 2018 - 2019 and purchased by the current owner strictly as an investment. The property is currently rented to University students at a monthly income of $3,200 per month. For any future investor looking to buy this property, the town allows for four unrelated tenants as per city code. The current amount of rent for a scholastic rental in the area is at $800.00 per month per student. That said, the yearly income that an investor should factor in when determining their amount of their offer in order to be within that code should be based upon an annual income of $38,400. The basement however does have a legal living room, bedroom and bath should one consider buying it as an owner occupant (see certificate in the attachment section), however, that type of purchase should possibly be delayed until no sooner than April 1st if the buyer will be seeking a mortgage since the tenants leases must be honored through May 31st of 2021. This of course would not apply should the owner occupant purchaser be a "cash buyer" thereby taking on the tenants until such time that the leases do expire and they are then able to occupy the property. The legal amount of related people is eight.
Listing information provided courtesy of SmartMLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS.
Gateway Real Estate2389 Main StreetGlastonbury, CT 06033