It isn’t often that a Maui property comes on the market that will offer both a Beautiful Place to live for an Owner Occupant and Cashflow opportunity. Listed at $875,000, 1404 Front Street is one of those properties.
The 4 BR / 4 BA, 2262 SF home was built in 2004 and features an additional 928 SF of covered lanai. The layout is configured so that an owner can easily enjoy 2 Bedrooms / 2 Bathrooms on the second level while maintaining the privacy from the downstairs 2 Bedrooms / 2 Bathrooms.
View the full listing Details for 1404 Front St. by Clicking Here. In Escrow
View the photo gallery for 1404 Front St. Here. In Escrow
Lets take a look at Front St. Comps in Lahaina
2. 1440 Front St (5B / 6BA)
$1,325,000 Sold Price
3. 1421 Front St (3B / 3.5BA)
$15,000,000 List Price
4. 1033 Front St (3B / 3.5BA)
$4,375,000 Sold Price
5. 960 Front St (3B / 2BA)
$3,600,000 List Price
How does it Pencil Out?
Listed at $875,000 the owner is offering seller financing with 20% cash down. For the purpose of this article lets assume 4% interest only payments for the first 5 years.
$875,000 x 20% = $175,000 Cash
$700,000 Seller Financed x 4% interest = $2,333 Monthly Payment
Current rental of downstairs only 2BR = $2450
Upstairs 2BR still available for owner occupant or additional rental income.
Other considerations must be made such as taxes, insurance, ect. but you get the picture. Feel free to contact me for more detailed information on rental history at (808) 446-5841 or jesse@MauiExclusiveRealEstate.com
What is it like to live in Lahaina
So, the numbers work out, but what is it like to live in Lahaina? Easy access to Beaches, Restaurants, Art Galleries, Shopping, and Nightlife. For more detailed write up of Lahaina has to offer take a look at the neighborhood page Here