Courtney Gilliam

12/2/16
FIN 319
CRN: 19115
UIN: 00981224
Investment Properties Assignment
This property at 3826 Wake Cir, Norfolk, VA 23513 is a Single Family
traditional style home. This property is 1,400 square feet with 4 beds and 2 baths,
and it is a renovated brick home with an attached garage and sunroom. This
property was built in 1948, and it also has a fenced yard, porch, and a wet bar. The
appliances that are included with this property are a dishwasher, dryer, microwave,
range/oven, refrigerator and washer. It has a renovated kitchen with new cabinets,
granite and SS appliances. Also, it has all new tile, carpet and wood floors. The
bathrooms and fixtures have also been updated for this property. News windows,
HVAC, roof were also added. This property includes a huge fenced in yard as well.
The current selling price for the home is $199,900. With a 20% down payment of
$39,980, the buyer would have an estimated monthly mortgage payment of $1,026,
including insurance and taxes, at a 30 year fixed rate, and it would have an
estimated monthly mortgage payment of $1,383, including insurance and taxes, at
a 15 year fixed rate. The estimated monthly mortgage payment includes the
insurance fees and estimated taxes of $267. If the buyer were to make a 4% down
payment of $7,996, the estimated monthly mortgage payment would be $1,363,
including insurance and taxes, at a 30 year fixed rate, and it would have an
estimated monthly mortgage payment of $1,763, including insurance and taxes, at
a 15 year fixed rate. The estimated monthly mortgage payment includes the
insurance fees, private mortgage insurance, and estimated taxes of $424. This
would be a good property to buy because the rent estimate for this property is
$1,095, and if the property was bought with a 20% down payment on a 30 year
fixed rate, the buyer would save $65 per month with buying instead of renting the
property.
This property at 817 A Avenue, Norfolk, VA 23504 is a Single Family
traditional style home. This property is 1,600 square feet with 3 bedrooms and 2
bathrooms. It has 1 full bathroom and 1 half bathroom. The flooring is carpet, and
the only parking is on the street. This property comes with a lot of appliances, such
as a dishwasher, range/oven, and refrigerator. The roof type is asphalt and the
exterior material is vinyl. This property was built in 1914, and its current selling
price for the home is $58,000. With a 20% down payment of $11,600, the buyer
would have an estimated monthly mortgage payment of $345, including insurance
and taxes, at a 30 year fixed rate, and it would have an estimated monthly
mortgage payment of $448, including insurance and taxes, at a 15 year fixed rate.
The estimated monthly mortgage payment includes the insurance fees and
estimated taxes of $125. If the buyer were to make a 4% down payment of $2,320,
the estimated monthly mortgage payment would be $434, including insurance and
taxes, at a 30 year fixed rate, and it would have an estimated monthly mortgage
payment of $559, including insurance and taxes, at a 15 year fixed rate. The

Courtney Gilliam
12/2/16
FIN 319
CRN: 19115
UIN: 00981224
estimated monthly mortgage payment includes the insurance fees, private
mortgage insurance, and estimated taxes of $170. This would be a good property
to buy because the rent estimate for this property is $1,200, and if the property was
bought with a 4% down payment on a 15 year fixed rate, the buyer would save
$641 per month with buying instead of renting the property.
This property at 1106 Bedford Avenue, Norfolk, VA 23508 is a Single Family
traditional style home. This property is 1,793 square feet with 4 bedrooms and 1.5
baths and built in 1917. It has a front porch with beautiful woodwork. It also has
castle windows with lifetime warranty. There is a fireplace also included with this
property. The new on this property is new as well as the heat and AC. The flooring
in this property includes carpet, hardwood, and slate. There is a parking garage
that is detached from this property. The current selling price is $239,000. With a
20% down payment of $47,800, the buyer would have an estimated monthly
mortgage payment of $1,211, including insurance and taxes, at a 30 year fixed rate,
and it would have an estimated monthly mortgage payment of $1,639, including
insurance and taxes, at a 15 year fixed rate. The estimated monthly mortgage
payment includes the insurance fees and estimated taxes of $306. If the buyer
were to make a 4% down payment of $9,560, the estimated monthly mortgage
payment would be $1,580, including insurance and taxes, at a 30 year fixed rate,
and it would have an estimated monthly mortgage payment of $2,093, including
insurance and taxes, at a 15 year fixed rate. The estimated monthly mortgage
payment includes the insurance fees, private mortgage insurance, and estimated
taxes of $493. This would be a good property to buy because the rent estimate for
this property is $1,600, and if the property was bought with a 20% down payment
on a 30 year fixed rate, the buyer would save $389 per month with buying instead
of renting the property.