Great location for this 4 unit building with a strong rental history just 5 miles to North Conway Village. First floor Apt 2 is updated with vinyl plank floors, stainless appliances, custom cabinets and in unit washer/dryer. Apt 1, also on the 1st floor, is the largest, with an eat-in kitchen, living room, 2 bedrooms and a full bath. There is a lock out door to another bath, not currently plumbed, which leads to the attached garage which could be upgraded by a future owner. The garage is currently rented separately to a tenant who stores 2 small cars. Upstairs, via a separate entrance from the covered porch, are apartments 3 and 4, both 1 bedroom units, with a common hall. All apartments have separate entrances and exits, including a second exit via back stairs from the 2nd floor to a small covered deck. The parking lot is enormous; vehicles can park on either side of the building. A big plus is the basement, accessed currently via bulkhead, it also has inside stairs from the garage, incredible ceiling height and would make a terrific workshop. A raised entry would add storage income potential. Three of the tenants have been here 10+ years. They enjoy gardening, the great location and the larger floor plans that each unit enjoys. Rents are below market but sufficient to service debt with a positive cash flow. Seller financing possible to qualified buyer with 30% down, 5. 5% interest, amortized over 25 years, with a 10 year balloon. Showings by appointment only.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $480,000 | $480,000 | $480,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.512% | 6.273% | 5.248% |
Monthly Tax Payment | $480 | $480 | $480 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,995 | $2,917 | $3,793 |
Total Monthly Payment | $3,567 | $3,489 | $4,365 |
* 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.