According to analysts, there will be a 4% increase in home prices by 2025. . . and with dropping interest rates, I'd schedule a showing today of this promising property before you tell yourselves, "Shoulda', coulda', woulda'. . . "
The average rate on a 30- and 15-year mortgage is around 6. 0% - 6. 7%! Maybe you ought to call your lender now because as interest rates drop, the demand for housing will increase. . . so don't miss out, make the call, and schedule your showing today of this great investment.
About the property:
•Adjacent to 3434 2nd Ave which is also owned and listed for sale by the same sellers [see MLS #TB8312153].
•Although the "Actual Year Built" was 1950 when the property was originally constructed, the "Effective Year Built" is 1983 which is the estimated age of the property based on its current condition, including renovations, updates, and wear and tear.
•This structure was built towards the rear of the 40 feet wide by 125 feet deep homesite that is large enough to build yet another structure or maybe subdivide.
•The home is a fixer-upper, sold AS IS in its current condition but loaded with potential due to its prime location and homesite.
•The first level is a 480 square foot garage.
•On the second level you will find a full kitchen, a dining area, a spacious living room, a full bathroom with tub and shower, and one large bedroom.
•There is a refrigerator and a cooktop in place, window AC unit and a full-sized electric water heater installed.
•Properties like this are a dream for many so take action now instead of listening to fear mongering hype because Florida's real estate market is on a continuous upswing with no downward shift in sight.
•Measurements including square footage are an approximation. Buyers are encouraged to verify all information herein.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $144,000 | $144,000 | $144,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.875% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.055% | 6.256% |
Monthly Tax Payment | $127 | $127 | $127 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $958 | $946 | $1,214 |
Total Monthly Payment | $1,160 | $1,148 | $1,416 |
* 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.