Apple Valley Ohio Lake Community by Sam Miller

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Could You Afford This Home If It Was Under $400 A Month? (SOLD)

Ohio Bank Owned Home in Walhonding OhioThis is a bank owned home that is located in Coshocton County and on the edge of Knox County in the small community of Walhonding, Ohio 43843.  It is pretty rare that we have a home in this good of shape for only $27,000 but the bank and investors who are in charge of this property have recently priced it for a quick and smooth "as is" sale.  The roof shingles were just installed in 2010 and overall the home is a solid value but still needs some updating and repairs.  If you are handy or don't mind hiring out a little work this property is truly an outstanding value and is a great candidate for an FHA 203K rehab loan.

Additional listing details can be found at 33242 Township Road 516

Below are some sample base monthly payments that include principal and interest only and these sample payments are calculated on a 5% fixed interest rate for a 360 payment / 30 year term.*

  • $134.21 per month based on a $25,000 loan amount
  • $161.05 per month based on a $30,000 loan amount
  • $187.89 per month based on a $35,000 loan amount
  • $214.73 per month based on a $40,000 loan amount
  • $241.57 per month based on a $45,000 loan amount
  • $268.41 per month based on a $50,000 loan amount

The actual payment you could obtain on this home could be lower if you obtained an even lower interest rate than 5% or if you placed a large down payment.  Your payment could be higher if you obtained a higher interest rate loan or if you took a shorter term mortgage than 30 years or if you borrowed more than the sample loan amounts listed above.  Again, these sample monthly payments are to simply give you a rough idea of just how affordable a home in this price range could be.   

Contact Sam Miller of REMAX Stars Realty (740) 397-7800  http://www.SamMiller.com

*These sample payments are for example purposes only, interest rates are subject to change, all loans are subject to lender application and credit approval and The Sam Miller Team nor REMAX Stars Real Estate are not offering financing of any kind to the public.  For specific mortgage estimates please contact a reputable lender and request a good faith estimate for comparison purposes.

Comment balloon 8 commentsSam Miller • September 13 2010 12:12AM

Comments

Wow what a great mortgage payment, that's less than a car payment today and looks like a charming home!

Posted by Michael A. Caruso (Surterre Properties) over 9 years ago

If someone could keep life simple, they sure could live in a nice place like this for so very little. Who would not want a $400 per month payment!!

Posted by Bryan Watkins (LRA Real Estate Group) over 9 years ago

Wow, who knew homes could cost so little!

Posted by Ryan Case, 877-828-0710 (SCA Real Estate) over 9 years ago

Great little home for the price! can you even get a mortgage that small?

Posted by Ryan Case (Pacific Servicing) over 9 years ago

It amazes me that most consumers really do not have an idea how affordable homes are today in all price ranges.  This is the first time during my 24 year real estate career that an average $100,000 home loan has a monthly payment of under $500 a month.

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 9 years ago

Hi Sam,

   What a great deal!  This would be a great home for first time home buyers or an investor.  Good luck on moving this one quickly.

Connie Lou

Posted by Connie Lou Barnett, GRI,CRS,CRB,SRMM,ARA,PRS,SFR,QSC (Real Living/Home Realty) over 9 years ago

Connie - You are right about this being a great home for a 1st time home buyer or investor / contractor.  The payments are SO low and it will cash flow and it is also a good fixer upper with resale in mind.

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 9 years ago

The affordability of homes helps attract buyers who otherwise wouldn't be in the market to own a home.

Posted by Apple Valley Lake (REMAX Stars Realty) about 5 years ago

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