About 3521 Town Court 3
$215,000 CURRENT RENT $1,850/MO. 10.3% GROSS RENTAL YIELD APPROVED FOR FINANCING FOR ELIGIBLE BUYERS. Established rental income in Auburn! Priced at $215,000 with a tenant paying $1,850/month and a seven-year established tenant history, this condo generates approximately $22,200 in annual rental income and offers a 10.3% gross rental yield based on the asking price. An appealing opportunity for investors, first-time buyers, or anyone seeking affordable Auburn living with rental income. IMPORTANT COMMUNITY DISTINCTION: Auburn Greens consists of two separately operated HOAs. This property is located in Auburn Greens HOA #1, with current dues of approximately $297/month. Most Auburn Greens properties currently offered for sale are in separate HOA #2. The associations may differ in dues, financials, assessment history, and governing documents. Buyers are encouraged to compare HOA information specific to each property. INVESTMENT SNAPSHOT: Current rent $1,850/month Gross annual rent $22,200 HOA dues $297/month Current property taxes approx. $1,032/year Estimated taxes at purchase approx. $2,500/year* Insurance approx. $1,200/year Estimated cap rate approx. 7%, based on estimated taxes at purchase and before vacancy, maintenance, and repairs. HOA is responsible for walls out maintenance. PROPERTY HIGHLIGHTS: Updated in 2017 with new windows, modern flooring, fresh paint, updated cabinetry and countertops, new interior doors and appliances, plus refreshed electrical and plumbing fixtures. Enjoy two assigned parking spaces-one covered/enclosed with a garage door and one uncovered-plus three private storage closets. PRIME LOCATION: Minutes from Target, Home Depot, restaurants, the hospital, and public transit, and approximately 10 minutes from historic Downtown Auburn. Nearby Auburn Regional Park offers disc golf, pickleball, ball fields, basketball courts, BBQ areas, and playgrounds. Auburn Greens offers accessible housing, consistent rental demand, and an appealing low-maintenance option for investors and owner-occupants alike. Ready to explore the opportunity? Schedule your viewing today and see how this established Auburn property may fit your goals! *Property taxes are subject to reassessment upon change of ownership. Rental and financial information provided by seller. Buyer to independently verify rental income, lease, expenses, HOA information, taxes, insurance, financing eligibility, projections, and all other property information.
