Presenting an exceptional investment opportunity at 586 Smith Street, Providence, RI 02908. This well-maintained two-family property features a desirable townhouse-style apartment on the second floor, making it an attractive option for renters seeking space and comfort. The apartment boasts modern amenities with inviting vinyl flooring that adds durability and style throughout. The kitchen is designed for both functionality and elegance, featuring sleek granite countertops and newer cabinets that cater to contemporary tastes and lifestyle needs. Adding to the property's charm is a fenced-in back lot, providing privacy and outdoor space that tenants will appreciate for relaxation or recreational activities, as well as off street parking. With easy access to the highway and a prime location conveniently near downtown Providence, this property is ideally situated for tenants needing to commute or enjoy urban amenities. Additionally, it comes with a proven rental history, showcasing its capacity to generate steady income for potential buyers. Don't miss out on this opportunity to invest in a property that combines modern living with a strategic location and a strong rental performance. Secure your future by adding 586 Smith Street to your real estate portfolio today!
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William Raveis Real Estate
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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 | $391,920 | $391,920 | $391,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.500% | 6.490% | 5.490% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.490% | 6.654% | 5.752% |
Monthly Tax Payment | $432 | $432 | $432 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,477 | $2,475 | $3,200 |
Total Monthly Payment | $2,984 | $2,982 | $3,707 |
* 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.