1321 Locust St, Elkhart IN 46514

1321 Locust St, Elkhart, IN 46514

House Sold - Elkhart IN

SOLD Sale Price: $94,900.00 Terms: Lease/Option (Rent to Own) – $4000 to $8000 down and $950.00 per month (includes taxes & insurance). Light, cosmetic fix up needed on this property and priced accordingly. This discounted price is available if you are willing and bale to do the cosmetic fix up. Zillow.com shows the home’s fair market value at $116,800 as of 7/25/21. Down payment assistance programs are available if you do not have the full $4000 down payment at this time.  You may put a minimum of $4000 down and pay the balance of the down payment off at $125 per month and/or pay it off with your tax refund next year. You will also build nice equity in this home with our 50% rent credit toward the purchase of this home in the first year…half of your $950.00 monthly payment ($475) is credited toward purchasing this home on our rent to own program.  After one year, the monthly rent credit is $200 per month.  This is a great way to save for a down payment toward purchasing this home to be used at a later date when applying for a mortgage loan to carry out the purchase of the home and exit out of the rent to own program.  You may take as long as you need to get in position to qualify for a standard mortgage or FHA mortgage, no deadlines, no pressure or no balloon payments coming due.

Home Information: Large 2 story home located on the north side of Elkhart in a nice, quiet area.  The home has 3 bedrooms, 1.5 bathrooms, aluminum siding and brick on the exterior, an enclosed front porch, an extra large detached garage, large double lot that has a privacy fence around it, a nice large kitchen with stove and refrigerator, a newer high efficiency gas furnace, central air conditioning, gas hot water heater, a nice living room, a nice dining room, vinyl replacement windows, a basement with additional living space or a 4th bedroom.  This is a nice size home with plenty of space and lots of yard. The home is conveniently located near schools, shopping, restaurants and parks.

If inquiring about Lease/Option, the following programs are available:  Lease to Own with $8000 down and monthly payments of $950.00 per month including taxes and insurance.  Some down payment assistance programs are available for lease to own/rent to own buyers with decent qualifications but who may be short the standard down payment of $8000.  You may qualify to put down less ($4000, $5000, $5500, etc.) up front and make small payments on the balance of the down payment each month until the $8000 down required is met or you may use your tax refund that may be available next year.