Welcome to this fantastic two-unit property in the heart of Norwich! It's got everything you need for a solid investment. Or, live comfortably in one of the apartments while renting out the other! It's in a great location, and has great income potential. The upper apartment is 2 levels with 4 bedrooms and 4 bathrooms! The neighborhood is prime Norwich - close to the Casinos, hospital, Holly Hock Island, and lots of cafes and restaurants. This property needs some work to make it shine, and may be best suited for cash purchase. Investors take notice! As-is sale. Seller will not make repairs or improvements prior to sale. MOTIVATED SELLER! SEND ALL OFFERS!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 860.625.5780
Brianna.Turgeon@raveis.com
NMLS Mortgage Loan Originator ID 2104486
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $188,000 | $188,000 | $188,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.412% |
Monthly Tax Payment | $641 | $641 | $641 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,282 | $1,250 | $1,599 |
Total Monthly Payment | $1,997 | $1,965 | $2,314 |
* 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.