What happens when you mix an 1800s home with a lively group of college students? You get epic passive income! Yes, it's a bit rough around the edges and could use a fresh coat of paint, but this property is brimming with character and nostalgia. Imagine the echoes of late-night study sessions and unforgettable parties filling these halls. With a strong rental history catering to local college students, this home is a proven income generator. Keep the rental income flowing or transform this gem into your dream primary residence, complete with historical charm and limitless potential. The detached barn is perfect for storage, though maybe skip the dance parties in there! Located right next to Castleton University campus and within walking distance to the shops and restaurants of downtown Castleton, convenience is at your doorstep. A short drive takes you to the serene shores of Lake Bomoseen, where you can enjoy leisurely walks, refreshing swims, or boating adventures. Plus, you're an easy drive to world-class skiing and riding at Killington Resort! Here's the kicker: ask me how you can bundle this with another income-producing property to score a great deal and bring in $6000 monthly! Showings begin 8/17.
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Our Executive Mortgage Banker:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $208,000 | $208,000 | $208,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.483% | 6.273% | 5.268% |
Monthly Tax Payment | $274 | $274 | $274 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,264 | $1,264 | $1,644 |
Total Monthly Payment | $1,613 | $1,613 | $1,993 |
* 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.