393 Dubuque Street is a three-story multi-family building and contains three (3), 3-Bedroom/1-Bathroom residential units. The Property is well located on the west side of Manchester and provides many walkable amenities (shopping, dining, and entertainment) and convenient access to area colleges and universities, SNHU Arena, several downtown parks, the banks of the Merrimack River, and area highways. The Property offers an opportunity to acquire an investment property in a supply-constrained downtown market within one of southern New Hampshire’s core cities. Each unit is separately metered for electricity, gas fired heat, and gas fired hot water which the tenants pay directly. The landlord is responsible for domestic water and sewer. The below market rents offer the potential for increased income on the Property. The opportunity exists to drive rental rates in an urban-infill, high demand/supply-constrained residential market through programmatic upgrades to the unit interiors.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $496,000 | $496,000 | $496,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,384 | $3,297 | $4,183 |
Total Monthly Payment | $3,476 | $3,389 | $4,275 |
* 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.