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481 Commercial Street, #U1, Provincetown, MA, 02657 | $1,195,000
This rarely available, free-standing, waterfront cottage is located in Provincetown's East End Gallery District. The 1, 131 SF detached condo provides 1 BR, a large den, 2 full baths, gas fireplace, 1 parking spot, new in-unit washer & dryer, an exclusive deck and an excellent rental history, making it an ideal getaway home or investment. The recently upgraded kitchen extends into the open living & dining area with a fireplace and water views. The large den has a sliding glass doors leading to the 31' long exclusive deck. This six-unit Chandler House Condominium association recently renovated the common deck with stairs to the beach and rebuilt the seawall. Pets are allowed for owners and renters. Condo fees have proven to be an excellent value as they include on-site concierge-level management, complete rental services, cleanings, flood & master insurance, common electric, water, gardening, maintenance and reserves. This is ideal for owners who want their home managed worry-free. Offered furnished with some exclusions. The 2023 net rental income was $42K and expect $50K in 2024. Seller welcomes offers with requests for buyer concessions.
Features
- Cooling: Wall Unit(s)
- Levels: 1
- Rooms: 3
- Bedrooms: 1
- Baths: 2 full
- Year Built: 1950
- Common Charge: $1,268 Monthly
- Approx Sq. Feet: 1,131
- Acreage: 0.18
- Est. Taxes: $6,031
- Lot Desc: Bike Path, Public Tennis, In Town Location, Conservation Area
- View: Bay
- Water Front: Yes
- Appliances: Dishwasher, Washer, Refrigerator, Electric Range, Microwave, Dryer - Electric, Water Heater, Electric Water Heater
- MLS#: 22403693
- Website: https://www.raveis.com
/prop/22403693/481commercialstreet_provincetown_ma?source=qrflyer
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Frank MerolaVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1020051
508.740.5922
Frank.Merola@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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617.686.2668
Allen.Gellerman@raveis.com
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481 Commercial Street, #U1, Provincetown, MA, 02657
$1,195,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Merola
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 508.740.5922
Frank.Merola@raveis.com
NMLS Mortgage Loan Originator ID 1020051
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $956,000 | $956,000 | $956,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
| Monthly Tax Payment | $503 | $503 | $503 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,353 | $5,809 | $7,875 |
| Total Monthly Payment | $5,981 | $6,437 | $8,503 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.
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