What $35,000 Down Buys You on This Duplex
The seller has offered financing with $35,000 down and $125,000 carried at 8.5%, a payment of $962 per month amortized over 30 years. That keeps your cash outlay well below the $160,000 purchase price and skips bank underwriting. Seller financing terms are finalized and documented at contract, so confirm every detail in writing before you commit.
Planning for the Five-Year Balloon Payment
The note is due in 5 years, which means the remaining balance comes due long before the 30-year amortization would pay it off. Investors typically plan an exit for that date: refinancing with a lender, selling, or negotiating an extension with the seller. Map out that plan before signing, and ask your own lender what refinance options look like for a two-unit rental.
Long-Term Section 8 Tenants Already in Place
The listing notes long-term Section 8 tenants. Housing-program tenancies generally involve unit inspections and payments routed through a housing authority, so ask for the current assistance contracts, rent amounts, and most recent inspection results. Moving those contracts to a new owner requires paperwork with the local housing authority, so build that into your closing timeline.
Built in 1930: Older-Home Inspection Priorities
A 1930 build can have plenty of character and plenty of deferred maintenance. Pay close attention to wiring type, plumbing materials, foundation and piers, roof age, and the lead-based paint disclosure required for housing built before 1978. Those findings affect both your repair budget and whether the units keep passing housing-program inspections.
Comparing Debt Service to Rental Income
Start with the $962 monthly payment, then add taxes, insurance, and reserves. Compare that total to the documented rent from both units. For a reference point, the St Anthony St investment duplex also had Section 8 tenancy when it sold, and our deal list shows other residential income properties currently offered.
Why Some Sellers Offer Terms Instead of Cash
Some owners would rather collect monthly payments than take a lump sum, for reasons that are personal to them. That flexibility is part of what makes off-market deals different from a typical listing, where the seller usually expects a bank-financed or cash buyer. If you own a rental and want to explore a similar arrangement, start on our sell off-market page.
