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Syracuse NY DSCR Rental Loan

Address: Syracuse, New York
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $104,500
Appraised Value: $100,000
Loan Amount: $80,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Purchase Only
DSCR: 2.29
Syracuse NY Hard Money Lender
hard money loan Syracuse
Situation:

Asset Based Lending recently funded a DSCR rental loan in Syracuse New York with a first-time borrower and real estate investor. This multi-family property was purchased for $104,500 with a loan amount of $80,000 and an appraised value of $100,000. With 2,212 square feet, this home has 5 bedrooms and 2 bathrooms. As of 2023, Syracuse is more affordable than many other major United States metropolitan areas, making it a popular place to live for families and retirees. As of July 2023, 60% of housing units in Syracuse, New York are renter occupied, making this a great investment for the borrower’s real estate portfolio. With a DSCR of 2.29, this property is already positively cash flowing and providing passive income for this rental property investor.

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