Discover your next home in Narragansett's Mettatuxet neighborhood. This beautifully remodeled legal 7-bedroom, 2-bathroom property boasts a generous 1, 444 square feet of space on the main level, plus an additional 1, 378 square feet of finished living space on the lower level, including a full bathroom and living room on each level of the home. Inside, you're greeted with a contemporary feel, as recent renovations offer a fresh and modern touch. Comfort is ensured year-round with electric heat and ductless air conditioning, and efficiency is top-notch thanks to owned solar panels which can help to minimize your utility costs. Investors, take note: this home has a strong track record of generating income through weekly summer leases and academic year rental agreements, proving it to be a valuable asset in your portfolio. Consider a potential 1031 exchange and purchase with other available investment properties in close proximity (MLS #1366173 & #1366176). Offering ample space and up-to-date amenities, this home is ideal for anyone looking for room to grow or the opportunity for investment. Ample parking. Don't miss out on making this versatile property your own.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,350,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,080,000 | $1,080,000 | $1,080,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
Monthly Tax Payment | $314 | $314 | $314 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,798 | $6,389 | $8,896 |
Total Monthly Payment | $6,237 | $6,828 | $9,335 |
* 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.