**Incredible Investment Opportunity – 4 Homes on 1 Property!** Situated on a spacious 2. 1-acre lot, this unique property provides endless possibilities for both investors and homeowners. The first home is a charming single-family residence with 2 bedrooms, 1. 5 baths, an updated kitchen and bathrooms, a fenced-in yard, 2-car carport, backyard shed, and a convenient circle driveway. It features its own separate septic system and single-level living for ease of access. The second home is a double-wide, currently being used as a business. There is a separate address at 2051 Edwards Lake Rd. This home has 3 bedrooms, 2 baths, an underpinning foundation, a fenced-in yard, 2-car carport, and a separate septic system. The third unit is a single-wide with 1 bedroom and 1 bath, currently rented month-to-month to a long-term tenant. This unit also includes a gravel parking pad and single-story living. The fourth home is a 1-bedroom, 1-bath "Tiny Home" that has previously rented for $1, 000/month. It shares a septic system with the single-wide. There’s an additional septic and water hookup available, adding potential for further expansion. The expansive 2. 1-acre lot offers even more flexibility, with the possibility of subdividing if desired. Live in one home and rent the others, or maximize your investment by renting all units or potentially adding to the property. This is a rare find, offering income-generating potential and space for future development—imagine the possibilities!
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$525,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $420,000 | $420,000 | $420,000 |
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 | $92 | $92 | $92 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,865 | $2,791 | $3,542 |
Total Monthly Payment | $3,049 | $2,975 | $3,726 |
* 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.