Mix Used Property 20% Under Market Value

Cornucopia, WI 54827, USA 0

$299,000 After Repair Value -
$233,700 Asking Price -
$0 Cost of Repairs =
$65,300 Potential Profit

Property Details

Asking Price $233,700

After Repair Value $299,000

Costs of Repairs $0

Potential Profit $65,300

Living Area 4460 ft2

Property Type Single Family House

Bedrooms 4

Bathrooms 0

Half Bathrooms N/A

Parking 1

Listed with Agent 1

Property Description

Mixed Use Building Bed and Breakfast, AirBnB, Local Tourist Bar, House HackCASH ONLY TERMSContract Price = $233,700 @ 6.5%Buy in price = $51,300Earnest Money Deposit: $5,000Amortized 20 years @ $1,742 month paymentBalloon due after 4 yearsMinimum Purchase Price = $285,000No prepay penaltyBuyer pay closing cost,Taxes, insuranceCommercial Lease Value-add opportunity Comps: Airbnb $80 - $130/night - Bed and Breakfast $100-$250/nightMulti-use property that could be converted into a lodge for your family & friends to enjoy a get-away any time of year or make this your special residence. Formerly an all-inclusive restaurant, inn and bar & grill. Catch the Lake Superior breeze with this chalet style four room inn, bar, restaurant and separate tiki bar & grill. The warm character of the exterior extends inside to the bar area with a cozy brick fireplace and pellet stove. Wooden bar and wood beams on the ceiling add to the home-like atmosphere. Sit, relax and enjoy a special lunch or dinner with family and friends after a day at the beach. The Inn contains four rooms upstairs each with their own en suite full bathroom. They share a common area with a fireplace and sliding glass doors that lead onto a deck. Washer/Dryer and utility sink also upstairs.\ -


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