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Hampton Bays New York DSCR Rental Loan

Address: Hampton Bays, New York
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $774,000
Appraised Value: $830,000
Loan Amount: $580,500
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Purchase
DSCR: 1.32
MN Rental Property Loan
Lakeville Hard Money Lender

Asset Based Lending recently funded a DSCR rental loan for a firs time borrower in Hampton Bays New York. This borrower purchased a single-family home to incorporate into their rental property portfolio. The property is currently unoccupied, but the borrower can expect to collect market rate for the monthly rent. With a DSCR of 1.32, this property will generate positive cashflow and generate monthly income for the investor. Rental properties in Hampton Bays account for only 26% of the housing market, making this property a rare find. Located on Long Island just west of the prestigious Southampton area, this property has the potential to operate as a short-term rental and collect peak seasonal rates around $900 a night.

NY Private Money Lender
Hampton Bays DSCR Loan
New York Rental Loan
Hampton Bays Rental Property