408 W 21ST ST Wilmington, DE 19802

Why should you buy this home over all the options out there, including not buying anything at all? Because you could potentially have your entire mortgage payment paid for by someone else. Yes, you read that correctly. How is that possible, you ask? Because this property is a two-unit home, where one of the units is leased to great tenants through July 2019. The monthly rent of $1,025 is covering the entire mortgage payment, and you could potentially experience the same benefit! "But how do I know my mortgage will be the same amount?". That's a great question! And here's the answer: The house currently has an ASSUMABLE FHA Mortgage at a SUPER-LOW INTEREST RATE of only 3.25%. That means this incredible mortgage could be transferred to you if you qualify for it! As if that wasn't enough, the Mortgage Insurance Premium (MIP) can be canceled at approximately 78% LTV! If you got a new FHA Mortgage today and your down payment was less than 10%, you'd have to pay MIP for the life of the loan! While the current tenant potentially pays your entire mortgage, you can sit back and enjoy your side of the home: a terrific space with a large and beautiful living area, large bedroom with a walk-in closet and an updated bathroom, modern kitchen, rear porch, private access to the basement with plenty of storage area and new Maytag washer and dryer. You'll also enjoy the beautiful and modern paint all throughout the unit. The unit which is currently being rented is also full of terrific features. It has a stunning and large exposed brick wall, a spacious bedroom on the main floor, spacious kitchen with access to a private and elevated rear porch, both a family room and a living room, updated bathroom and a bay window. This unit also has a loft bedroom! It's a very spacious area with the stunning brick wall, its own washer & dryer, air conditioning units, contemporary ceiling design and a skylight. But there's more! We haven't discussed the large, secluded backyard! The backyard is fenced and is very tranquil. It's really quiet and peaceful and you'd enjoy entertaining some friends with a BBQ or reading a book while sipping on your favorite tea. This property is within walking distance to public transportation on Baynard Boulevard and Rodney Square, and close to all major highways. Note: Buyer is responsible for verifying all information, data and measurements. Nothing can be construed as a guarantee. Owner is co-listing agent and a licensed Delaware real estate broker.