Are you looking for a single family home with an In-Law suite or an Incredible Income Producing Property in Unincorporated Seminole with NO Rental Restrictions? If so this is the house for you! Option 1: Live in the entire house with plenty of room for a large family. Option 2: Live upstairs and let the in-laws have their own private space downstairs. Option 3: Rent the downstairs apartment while you live upstairs. Option 4: Rent out the 2 units separately. The options are yours. The current owner has the house divided into 2 living spaces that he has very successfully rented out through Air BnB. The monthly rental income is about $5800 a month or $69, 600 a year for the 2 units combined. Less the fixed expenses the property still generates roughly $57, 600 yearly. Just 2 miles to the beautiful beaches of Madeira Beach, centrally located to shopping, restaurants, and a short 30 minute drive to Tampa International Airport. The home is equipped with 2 kitchens, one upstairs and one for the downstairs unit. So the property includes 2 refrigerators, 2 microwaves, 2 electric ovens, 2 garbage disposals, 1 dishwasher, 1 washer and dryer. Upon entering the house you will be greeted in the living room with a fireplace to enjoy on our chilly December nights and delighted with the open feeling as the ceiling extends to the second level. The upper level has a sunny family room, dining room and kitchen with an eat in bar. Across the house are the primary bedroom and guest bedroom with a private ensuite bath and a full hall bath. The lower level of the house has a full kitchen with a breakfast bar, living room, a full bathroom, nice sized bedroom and a bonus room with a huge storage space. This bonus room is used as another sleeping room and it is completely private. The garage is a large 2 car garage with laundry area and a 10x6' storage room. There are 2 compressors, one 3. 5 ton unit replaced in 2019 and a 1. 5 ton unit replaced in 2018. The water heater was new in 2018 and has a warranty until Nov. 6, 2024. The shingle roof was new in 2018. This house is being sold as a Turnkey property. So whether you are looking for a home for your family, need an apartment for your in-laws or to rent out, or you are looking for an income producing property this is the house for you!
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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 | $480,000 | $480,000 | $480,000 |
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 | $625 | $625 | $625 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,917 | $2,917 | $3,793 |
Total Monthly Payment | $3,634 | $3,634 | $4,510 |
* 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.