Under contract-accepting backup offers. Famed Murphy Duplex located in College Park. One unit is now vacant so an owner user can purchase and qualifies for FHA financing. This property has two 2 bedroom and 1 bath units with updates throughout, each unit has it own covered parking space, very rare for Downtown rentals! The rear unit has a nice sized, fenced yard, the front unit has a large side yard, offering maximum privacy for both tenants. Constructed with concrete block, so ease of any maintenance. The location is just blocks from the heart of College Park business district, blocks from Advent Heath, and easy commuting to I-4 and 408. Long term tenant is under market value. Give next owner the opportunity to readjust to current market rents.
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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 | $471,200 | $471,200 | $471,200 |
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 | $494 | $494 | $494 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,863 | $2,863 | $3,724 |
Total Monthly Payment | $3,449 | $3,449 | $4,310 |
* 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.