Imagine a charming duplex that exudes both modern comfort and classic appeal currently bringing in $3, 100 a month from tenants who are on month to month leases (which is well below current market value)! The exterior of the duplex is well-maintained, with a welcoming look. Each unit has its own separate parking area, neatly positioned on either side of the building, ensuring convenience and privacy for both households. The interior of each unit has been thoughtfully renovated to last a lifetime with tile flooring throughout that looks like wood. Open-concept living areas feature stylish fixtures and tons of natural light. Both the A/C's were done in approximately 2020/2021. The windows in one of the apartments are newer. The kitchens have both been renovated with granite countertops, plenty of storage space, newer appliances, and more! NEW ROOF in November, 2022. These apartments are fantastic rentals and always rent quickly. The property even has a brand new well, so NO WATER BILL! A large, mature tree stands prominently in the front yard, its expansive canopy providing shade and a touch of nature's beauty that envelops both units. This tree not only enhances the curb appeal but also adds a sense of tranquility and privacy. In the back, each unit enjoys its own spacious backyard, offering ample room for outdoor activities, gardening, or relaxation. Each side also has their own very large storage shed! The separation between the two backyards ensures that each unit has its own private outdoor space, making it perfect for anyone seeking their own retreat. Overall, this CASH COW combines the best of modern living with thoughtful design and a touch of natural charm. Live in one side and rent the other out to offset your living expenses, or cash flow the whole property as a fantastic rental property! While both tenants are currently on month to month leases, they both would be happy to renew if desired, and owner would be willing to facilitate that prior to closing if needed.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $360,000 | $360,000 | $360,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $330 | $330 | $330 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,395 | $2,393 | $3,036 |
Total Monthly Payment | $2,800 | $2,798 | $3,441 |
* 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.