Welcome to 360 Pine St, a fully occupied two-family property directly across from Fulton Park, offering investment potential. This multi-family home is sold as-is and provides a significant opportunity to increase income with some TLC. Currently rented below market rates, this property presents a great chance to make improvements and capitalize on higher rental income. The first-floor unit features 1 bedroom, a large living room, an eat-in kitchen, and a full bathroom, offering comfortable living spaces. The second unit covers the second and third floors, consisting of 4 bedrooms, an eat-in kitchen, and a full bathroom. The property boasts a private driveway, easy maintenance yard space, and a newer metal roof, with a little cosmetic work and updates, these units can be positioned to command higher rents in the competitive Waterbury market. Situated directly across from Washington Park, tenants will enjoy access to green spaces, sports courts, playgrounds, and more, enhancing the property's appeal. Local rental data shows 1-bedroom units in the area typically renting for around $1, 100 and 4-bedroom units fetching up to $1, 850, providing an excellent opportunity to raise the current rent roll after improvements.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $176,000 | $176,000 | $176,000 |
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 | 7.563% | 7.159% | 6.276% |
Monthly Tax Payment | $284 | $284 | $284 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,171 | $1,170 | $1,484 |
Total Monthly Payment | $1,530 | $1,529 | $1,843 |
* 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.