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.
