The owners, Kristin Alarcon and Michael Alarcon II, are selling equity in their primary residence on the Lofty marketplace. Their property is owned free-and-clear with no mortgage.
The Alarcons will pay investors rent at the effective federal funds rate (EFFR) + 4.67% adjusted annually. The rate will drop to EFFR + 4% after year 1.
Tokens will automatically be bought back from investors in 30 years at an annual appreciation rate of 2%, for a total property value of $1,193,325. Investors can still trade their tokens anytime on the marketplace.
Both Kristin and Michael passed a premium criminal background check via Checkr and their Experian credit scores are 795 and 779, respectively.
Clawback is enabled and 60% of the owners' equity is up for collateral. This allows investors to reach a Supermajority of 60%+, via a governance vote, to claw back the owners' equity if they are late on their interest payments by over 90 days.
Click here to learn more about how property owners sell partial ownership of their properties on the Lofty Marketplace.
Remodeled Single Family Home located outside Portland, Oregon.
Details
- Original construction in 2001
- Owners contracted $43k worth of remodeling into the home as well as purchasing all new stainless-steel appliances in June 2023, including but not limited to new balusters and step surfaces on main level stairs, new wood-slat blinds on 14 windows, new paint throughout the home, new kitchen cabinets, new LVP flooring on the main level common areas, new carpeting throughout the lower level, and expansion of the primary bedroom closet.
- Stunning and spectacular valley views can be enjoyed from the living room, patio, and upper loft of this beautiful property
- This house is blessed with an abundance of natural light, thanks to its clever design
- The upper level and main-floor primary bedroom feature hardwood floors that were tastefully installed in 2016, adding elegance and warmth to the living spaces
- The main level boasts an impressive 18-foot soaring ceiling, creating a grand and airy atmosphere
- The lower level offers a spacious family room and a large bedroom with en suite full bath, providing ample space for relaxation and accommodating guests
- Owners will be installing a new roof, furnace, and water heater in 2024
- Owners will be updating both of the decks and install a hot tub in 2024
Insurance
- Insurance Policy from Geico
Occupancy Status
- Occupied by the owners, married couple Michael Alarcon II and Kristin Alarcon
Location Data
- "A-" Rating for Zip Code on Niche
Due Diligence Documents
