Invest in your future with this income-producing house in the heart of Miami! Located 10 minutes from both the beach and the Design District, this property is professionally managed for almost 10 years with a full schedule of long-term rentals. For those interested in short-term rentals, the necessary permits are in the process of approval–a solid investment opportunity in the making. To learn more or schedule a viewing, submit proof of funds and contact our broker. Not only is this property a lucrative investment, but it could also become your dream home. With professionally managed services ensuring a hassle-free experience, you can seamlessly transition between your home and an income-generating asset. Property has code violations and is undergoing compliance- cash or long closing
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Our Executive Mortgage Banker:
Our Insurance Division:
$847,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $677,600 | $677,600 | $677,600 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.250% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.371% | 6.348% | 6.182% |
Monthly Tax Payment | $566 | $566 | $566 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,117 | $4,172 | $5,718 |
Total Monthly Payment | $4,775 | $4,830 | $6,376 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.