927 Farmer Street, Petersburg, VA 23803

Property Description

PETERSBURG DUPLEX BEST BUY! LIVE IN ONE UNIT — RENT THE OTHER! 927 Farmer St., Petersburg, VA 23803 ONLY $189,950! FIRST-TIME HOMEBUYERS — WHY KEEP PAYING RENT WHEN YOUR TENANT COULD HELP PAY YOUR MORTGAGE? Here is your opportunity to become a HOMEOWNER AND A LANDLORD with a small down payment! This previously renovated Petersburg duplex features TWO 2-bedroom, 1-bath apartments, both currently vacant and ready for occupancy. LIVE IN ONE APARTMENT AND RENT THE OTHER FOR AN ESTIMATED $1,250 PER MONTH! LOOK AT THESE FHA FINANCING NUMBERS! Purchase Price: $189,950 FHA Down Payment (3.5%): $6,648 Base Mortgage Amount: $183,302 Interest Rate: 7.75% Fixed Loan Term: 30 Years Monthly Principal & Interest: $1,313 Estimated Total Monthly Payment: $1,850–$1,950, including property taxes, homeowners insurance and FHA mortgage insurance Projected Rent From Second Apartment: $1,250/month YOUR ESTIMATED NET HOUSING PAYMENT: JUST $600–$700 PER MONTH! THAT'S RIGHT! YOU COULD OWN A DUPLEX, LIVE IN ONE APARTMENT, AND HAVE YOUR TENANT HELP PAY YOUR MORTGAGE! Instead of paying $1,200–$1,500 per month in rent, imagine owning your own home while building equity and collecting rental income! TWO APARTMENTS — ONE SMART INVESTMENT! Built in 1890, this historic duplex has a long history as a rental property. Both apartments have been previously renovated and feature electric baseboard heating and window A/C units. The property has a traditional pier foundation and some uneven floors, potentially resulting from settlement over the years. Buyers should independently inspect and evaluate the foundation. STOP RENTING AND START BUILDING WEALTH! FIRST-TIME BUYERS, THIS COULD BE YOUR OPPORTUNITY TO GET INTO REAL ESTATE INVESTING! Live in one unit, rent the other, and let your rental income help offset your monthly housing expenses. ONLY $189,950 — DON'T WAIT! CALL TODAY TO SCHEDULE YOUR SHOWING! Financing illustration only.