We have noticed a significant level of interest in investor-owned properties. For the local real estate investor, however, we have only been able to offer single family homes, cottages, and townhomes which were primarily designed for homeownership. Until now.
Designed aesthetically to look like a southern mansion house, these homes actually consist of two main-level units and two 2nd-floor units. Access each unit from the front vestibule off Elysian Road or the back door from the garage and courtyard. Upper units have balcony access while lower units have a front porch.
Side-by-side two-level townhomes enter through a shared front vestibule from Elysian Road or through their own back doors from the parking area. Main floor living space with bedrooms upstairs.
Both the Clark and the Lewis feature low maintenance finishes including 2cm quartz countertops in the kitchen and luxury vinyl plank in the living, kitchen, and dining area. A pre-designed modern interior palette will make these appealing to renters who care about quality and design. Rents in Annafeld are strong due to demand for this community lifestyle, quality of construction, and proximity to river trails, as well as a thriving K-8 county school. Cap rates are well over 7% when you consider the 1-2-10 year warranty and little-to-no maintenance required due to new construction. There is nothing like these in the Billings market that is not at least a couple decades old.
Featured behind our current model home, the Carriage House used as an investment can help you:
This investment option can really help offset your mortgage by at least $800 or more!
Let’s see what this investment could look like… So you got pre-qualified for building the apartment over your garage. (By the way, if you are uncertain how to qualify for a home with an investment property, we have some recommendations on this.)
Let’s assume a total purchase price for your personal home and the garage apartment is $400,000. And let’s assume you have 20% equity from the sale of your current home or other sources to put down on your next home. At today’s low interest rates (we used 4% but it may be lower). It’s likely you could make back $800-900 on your rental each month, which means your personal contribution to your mortgage payment is just over $1,000!
If any of these investment opportunities sound like something you want to explore, reach out to us below and we’ll help you navigate the process with us. Or give us a call (406)651-5354.