470 Spruce Street, Manchester, NH, 03103 | $650,000

Welcome to 470 Spruce Street, a beautifully maintained 3-family home that represents a sound investment opportunity for those seeking a property that is already income-producing. This exceptional property features three spacious three-bedroom units, currently grossing a monthly income of $6, 280, while the first floor unit is rented under value. Each unit is designed for comfort and practicality, making it highly attractive to tenants and ensuring consistent rental income. A standout feature of this property is the three-stall garage and additional parking, a rare and valuable amenity in the city that enhances its rental appeal. While the owner covers gas expenses, the overall property expenses are kept impressively low, maximizing net income and ensuring a strong return on investment. The well-maintained interiors and modern upgrades, including contemporary appliances and fresh paint, contribute to the property's desirability and tenant retention. Centrally located, 470 Spruce Street is conveniently close to schools, parks, shopping, dining, and major highways, offering easy access to all that Manchester has to offer. Whether you're a seasoned investor looking to expand your portfolio or a newcomer seeking a reliable income-generating property, this home offers both immediate returns and long-term growth potential. Don't miss out on this prime investment opportunity. Showings begin on Saturday, June 8th. 24 Hour notice required. OFFER DEADLINE 8PM 6/10. Thank you.

Features

  • Rooms: 18
  • Bedrooms: 9
  • Units: 3
  • Style: Apartment Building,Multi-Family
  • Year Built: 1910
  • Garage: 3-car Garage
  • Heating: Natural Gas,Steam
  • Cooling: None
  • Basement: Bulkhead,Concrete Floor,Stairs - Interior,Unfinished,Interior Access,Exterior Access,Stairs - Basement
  • Approx Sq. Feet: 3,312
  • Acreage: 0.13
  • Est. Taxes: $7,749
  • Lot Desc: City Lot,Curbing,Landscaped,Sidewalks
  • Elem. School: Henry Wilson School
  • Middle School: Hillside Middle School
  • High School: Central High School
  • School District: Manchester Sch Dst SAU #37
  • MLS#: 4999294
  • Website: https://www.raveis.com
    /prop/4999294/470sprucestreet_manchester_nh?source=qrflyer
©2024 New England Real Estate Network, Inc. All rights reserved.This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 11/24/2024
Listing courtesy of Keller Williams Realty-Metropolitan   Phone: 603-232-8282
Listing Agent: Savannah Levasseur

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Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
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470 Spruce Street, Manchester, NH, 03103

$650,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

5/6 (30 Yr)
Adjustable Rate Conforming*
30 Year
Fixed-Rate Conforming
15 Year
Fixed-Rate Conforming
Loan Amount $520,000 $520,000 $520,000
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.990% 6.250%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.477% 7.159% 6.498%
Monthly Tax Payment $646 $646 $646
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,460 $3,456 $4,459
Total Monthly Payment $4,198 $4,194 $5,197

* 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.