Brokers Tour DanvilleToday’s brokers tour unveiled three Danville properties that might be perfect for either the first time buyer or investor. All three of these properties should cash flow for the investor and for the owner occupant monthly payments should be equal to or less than rent payments.

For the owner occupant these properties should be able to qualify, depending on strength of the buyer, for 5% down payment conventional loan, lender paid PMI. Lender paid PMI significantly reduces the monthly payment. The interest rate is slightly higher but in the long run the payment is less. See the example below.

This is only an example.

  • No PMI – Purchase Price $250,000 – less 5% down = $12,500 – loan amount of $237,500. Based on interest rate of 4.25% – Principal & Interest = $1,169 + Taxes $250 + Insurance $40 + HOA $305 = $1730 Payment
  • With PMI – Purchase Price $250,000 less 5% down = $12,500 – loan amount of $237,500. Interest rate of 4 % – Principal & Interest = $1,135 + Taxes $250 + Insurance $40 + HOA $305 + $188 PMI = $1918 Payment

*Note – with 20% or more down payment PMI is not charged.

Here are the properties.

  1. Canyon Woods San Ramon – 2 bedroom 2 bath townhouse approximately 1000 sq. ft. Views of  Canyon Lakes golf course course. Priced at $250,000 and is a short sale.  Located off Alcosta convenient to freeways, schools, restaurants, retail.
  2. Danville – Mission Drive Duet – Off Camino Ramon – conveniently located near freeway, downtown Danville.  3 bedroom 2 bath, approximately 1200 sq. ft. Nice patio area. 1 Car Garage. Priced at $330,000. No HOA.
  3. 137 Lawnview Dr. – Townhouse  with 3 bedrooms and 2.5 bathrooms. 2 story and 2 car garage. Spacious with approximately 1500 sq. ft. Family room, eat-in kitchen, living room and formal dining area. All bedrooms are up. Located in the Greenbrook area of Danville – close to downtown, restaurants, freeway and the Iron Horse Trail. This is a deal at $315,000–HOA $305.

Anyone of these homes would make a great investment whether for owner occupant or as a rental property in Danville or San Ramon.

About Linda Urbick Linda

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Filed under: Homes on the Market

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