Back on market after new management hired, building improvements made, and leases updated. Nicely updated duplex in the heart of charming and historic Claremont. This fully-occupied property features two spacious 3-bedroom, 1-bathroom units rented at $1, 600/month each to month-to-month tenants. Tenants are responsible for their own hot water and electricity, meanwhile the landlord pays for heat and water/sewer. The owner is in the process of replacing old wiring to code and 2022 improvements include freshly sanded and painted clapboard siding, new vinyl windows, and updated finishes in one of the apartments (stainless appliances, wood cabinets, and vinyl plank flooring). The property offers 3 to 4 paved off-street parking spaces and there is ample street parking nearby. In addition, the property has an unfinished third floor, which presents a potential opportunity to add living space to each unit subject to buyer's own due diligence and city approval. Owner is a real estate licensee.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $172,000 | $172,000 | $172,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,144 | $1,143 | $1,475 |
Total Monthly Payment | $1,219 | $1,218 | $1,550 |
* 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.