Welcome to 25 Annandale Road in the picturesque coastal town of Newport, Rhode Island. This unique property presents an exceptional opportunity, whether you're searching for a serene second home or a principal residence. Currently structured as a two-family home, offering versatility and potential. With a shared front entry foyer, the layout is seamless, featuring individual living rooms, eat-in kitchens, comfortable bedrooms, and bathrooms with tub/shower combinations in each unit. Enjoy outdoor living with large decks off each unit overlooking the large private, fenced yard. The location is simply unbeatable; find yourself within an easy stroll to an array of fine dining, boutique shopping, iconic tennis courts, the scenic Cliff Walk, and the sun-soaked beach. Parking is a breeze with four off-street spaces available off Lowndes Street and the possibility to expand further. A full basement offers extensive storage possibilities, while two hot water heating systems with tankless water guarantee comfort and efficiency. Each unit also boasts its own electric meter, with circuit breaker panels in the unit, ensuring practicality and convenience. While the property could benefit from some updating, the investment promises to enhance the charm and value of this delightful residence. Envision living in one unit while drawing income from the other or providing a luxurious guest space for visiting family and friends. Your coastal dream home awaits!
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Our Executive Mortgage Banker:
Our Insurance Division:
$945,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $756,000 | $756,000 | $756,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
Monthly Tax Payment | $594 | $594 | $594 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,292 | $4,655 | $6,278 |
Total Monthly Payment | $4,978 | $5,341 | $6,964 |
* 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.