One of the most beautiful rental properties in all of Northport directly across from the harbor. This Historic Home was custom-built in 1880. With its High Ceilings, Wrap-around Porch, and Intricate Woodwork, its features are Magnificent. There are 6 units in all, 5 in the Main House and 1 Cottage behind the House. All with Unobstructed and Spectacular Water Views. Each unit is Stunning, from the smallest to the largest. Gorgeous Wood Flooring and Ultra-Modern Amenities make these apartments the most sought-after in Northport Village. The Entire Home was completely renovated in 2018 while keeping most of the Beautiful rich and detailed woodwork of the original era. Renovations and upgrades include New Windows, New Air Conditioning Units, Plumbing, Electric, Gas, Roof, Hardie Board, Siding, Kitchens, Bathrooms, Appliances, Floors, Doors, Remodeling, and well-designed Landscaping. There are 8 Designated Private Parking Spots. Each unit with completely independent air conditioning, electric, gas heat, washer/dryer, individual gas boilers, and hot water heaters. All with state-of-the-art appliances, original refurbished wood floors, beautifully detailed and original *non-usable* fireplaces (village code), and some with beadboard and high ceilings. 4 of the units have their own private outdoor space. Net Operating Income estimated at $192, 000. 00, inclusive of market rate for one of the apartments which is rented to a family friend for $1, 200 per month below market. All Apartments Fully occupied.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,350,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $3,480,000 | $3,480,000 | $3,480,000 |
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 | $2,075 | $2,075 | $2,075 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $18,681 | $20,586 | $28,666 |
Total Monthly Payment | $20,881 | $22,786 | $30,866 |
* 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.