This duplex is not one to ignore and investors should take note! It does need cosmetic work but it is literally like having 2 houses side by side, they are a mirror image of each other. Each unit has an eat-in kitchen with the cabinets and sink in a butler's pantry with pass through, such character! They have a formal dining room, living room, den, and full bath on the 1st floor. Each unit has 3 bedrooms on the 2nd floor. What is so unique about this property is that one of the bedrooms on the 2nd floor looks like it may have been a kitchen at some point in its life, with a water closet! The cabinets are there and one unit still has the sink basin in place. With access to the 2nd floor from the stairs at the front door hall, it's conceivable with permitting from the town to convert this dwelling into 4 separate 1 bedroom units. The den on the 1st floor could be a bedroom and the upstairs units could be an eat-in kitchen with a living room and bedroom. A large closet in the "kitchen" on the 2nd floor could possibly be converted to a cozy bathroom. Or, it's also possible to have a business here. So, there could be a business with offices on the first floors and make apartments upstairs. So many options and combinations. It does need paint and the shared front porch needs to be replaced but the building is solid. Separate back porches and a divided basement for storage. This private location on a dead end street is out of the flood zone. Worthy of a look for sure!!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $140,000 | $140,000 | $140,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $262 | $262 | $262 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $931 | $930 | $1,181 |
Total Monthly Payment | $1,268 | $1,267 | $1,518 |
* 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.