Presenting a prime investment opportunity in Rhode Island, this newly renovated four-unit residential property promises exceptional rental income and unparalleled value. Each unit, featuring two spacious bedrooms, has been meticulously updated with contemporary finishes and modern amenities designed to attract high-quality tenants. All units come with brand new heating systems, ensuring comfort and efficiency for residents. With the potential to generate over $7, 000 in monthly rental income, this property stands out as one of the top residential investments in the state. The building is currently completely vacant, offering investors the unique advantage of selecting their own tenants and setting optimal rental rates.
Meticulously upgraded to meet the highest standards, this property exemplifies the best in residential investment opportunities. From the fresh, modern interiors to the strategic location offering easy access to local amenities and transportation, every detail has been thoughtfully addressed to ensure long-term appeal and profitability. As one of the premier four-unit residential properties currently available, this investment represents a rare chance to capitalize on a high-performing asset in a highly sought-after area. Some photos have been virtually staged for visual purposes.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$700,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $560,000 | $560,000 | $560,000 |
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 | $339 | $339 | $339 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,403 | $3,403 | $4,426 |
Total Monthly Payment | $3,834 | $3,834 | $4,857 |
* 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.