$299,000 NO BANK QUALIFYING – LEASE OPTION
5558 W Red Racer Dr is a 2886 s.f. Single-Family Home located in the Hartman Vistas subdivision in NW Tucson. This is a gorgeous 2 story home with 5 bedrooms, 3 baths and a loft with one of the bedrooms and baths located downstairs. There is a spacious gourmet kitchen complete with all appliances and a snack bar area. There are marble surrounds in the baths, a jetted tub in the master bath, and a covered patio with an uncovered upper level deck! Ceiling fans in all rooms. With no neighbors behind the property there are spectacular views of the surrounding desert from both the lower and upper levels.
This property is being offered as a Rent 2 Own at $299,000, $9,000 option fee, $1400 security for the lease, 1st month’s rent of $1400, beginning with month two the rent will be $1600 with $200 being credited to the purchase. See below for the balance of the guidelines
BASIC RENT2OWN GUIDELINES
- No tenant evictions in last year except in the case of foreclosure, short sale, etc.
- Debt ratio = All monthly payments including projected rent cannot exceed 43% of gross income.
- Minimum Household Income =$4,800/mo
- Credit Repair = If you have any credit issues we will require you acquire the services of a credit repair or counseling service. We want to be sure that every effort is made to ensure you are able to purchase your home as soon as possible within the option time period.
- Lease Time Periods = 2 years with guaranteed renewal in 1 yr. increments until buyer can obtain financing if there have been no violations of the lease agreement during the expiring term. Should it become necessary to extend the lease beyond a total of 3 years an adjustment to the terms may be required based on the original contract terms.
- Option Time Period = 4 years or 30 days following the property being vacated. (Option can & should be exercised as soon as the tenant/buyer can obtain financing)
For additional details please contact John by phone or text at 775-764-7467 or by email at JLSheldon@E3EnterprisesNV.com
NOTE: To view photos in a larger image please right click on the photo and click open in new tab.