Unique Redevelopment Opportunity: Charming Single Family Home with Expansion Potential
Discover the untapped potential of this free-standing single-family home, a diamond in the rough awaiting transformation into a masterpiece. Nestled in a desirable neighborhood and boasting an R5 zoning, this property not only offers a cozy living space but also presents an exciting redevelopment prospect.
Key Features:
Redevelopment Potential: Zoned R5 with an additional 1920 square feet allowed, this property is a canvas ready for your vision. Unlock the full potential of this spacious lot, allowing for expansion or even the creation of additional units, subject to local regulations.
High Ceilings in Basement: The property features high ceilings in the basement, providing an opportunity for creative utilization, whether it be additional living space, a home office, or a recreational area.
Lot Size and Dimensions: With a generous lot size of 20x100, this property offers ample outdoor space for potential landscaping, a garden oasis, or even additional construction. The dimensions provide flexibility for various design possibilities.
Work in Progress: A portion of the renovation journey has already begun, setting the stage for the next buyer to add their finishing touches. Benefit from the head start, with some work completed and a solid foundation to build upon.
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Our Executive Mortgage Banker:
Our Insurance Division:
$410,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $328,000 | $328,000 | $328,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 8.011% | 7.171% | 6.538% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,265 | $2,180 | $2,812 |
Total Monthly Payment | $2,340 | $2,255 | $2,887 |
* 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.