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66-68 South Street, Proctor, VT, 05765 | $395,000
Rarely available, high cash flow 4plex, in the charming artisan town of Proctor, listed at an “as is” 10%+ cap. This stately immense property, at over 6, 000 square feet, was formerly a home owned by an executive of the famed Proctor Marble Corporation. It was converted into 4 unique apartments, which have enjoyed near perpetual 100% occupancy due to their desirability. You will be hard pressed to find larger apartments then this 4plex in the region. With an average square footage over 1, 000 and multiple floors for two of them. Property would be ideal for owner occupancy or to rent for significant income The building has been professionally managed and renovated. With a Net Operating Income of over $41, 000, this investment is projected to yield over a 13%-year 1 cash on cash return based on current numbers, and cash returns can go to 20%+ per year if rents are brought to market. This allows the new owner to realize significant returns from cash flow vs speculation. This property is located within proximity to such iconic sites such as the Vermont Marble Museum, Wilson Castle, Beaver Pond, Proctor Free Library, outdoor ice-skating and roller rink, Carriage Trails, as well as the Proctor Pool. This Property is available as a package with another Proctor 4plex - 50-52 Gorham Bridge Rd MLS#5013870. Listing Broker is a member of the LLC selling the property
Features
- Bedrooms: 10
- Units: 4
- Style: Multi-Family
- Year Built: 1900
- Heating: Oil,Baseboard,Forced Air
- Cooling: None
- Basement: Full
- Approx Sq. Feet: 4,220
- Acreage: 0.39
- Est. Taxes: $5,136
- Lot Desc: Sidewalks
- MLS#: 5013869
- Website: https://www.raveis.com
/prop/5013869/6668southstreet_proctor_vt?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 11/21/2024Listing courtesy of 3GEN Real Estate Inc Phone: 802-227-7327
Listing Agent: Michael Gilman
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NMLS Mortgage Loan Originator ID 793093
203.415.2989
Brian.Skelly@raveis.com
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66-68 South Street, Proctor, VT, 05765
$395,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Brian Skelly
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $316,000 | $316,000 | $316,000 |
| 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 | $428 | $428 | $428 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $2,102 | $2,100 | $2,665 |
| Total Monthly Payment | $2,605 | $2,603 | $3,168 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484