725 Boston Post Rd in the heart of downtown Old Saybrook has been meticulously revamped with modern amenities. Make your dreams come true with your business. Be an entrepreneur while living in a completely updated 1800 sq ft 4 bed 2 bath residential unit. The kitchen renovation includes all new appliances, Quartz counters, and an open concept. The enclosed patio has a spa for a perfect retreat. This is currently being used as a successful Str. The commercial unit has expanded totaling 2, 240 sq ft of commercial space facing Boston Post Rd. The addition will make funding easy. The electrical was completely updated with all new panels, eloquent light fixtures, outlets, energy-efficient heating and cooling mini splits, and a commercial fire alarm system that notifications for the residential. The commercial is zoned B2 and would make a fantastic Spa, medical facility, retail, and Cafe so many possibilities. The furnishings and personnel property are negotiable, business is negotiable.
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$925,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.641.8287
Dave.Beckman@raveis.com
NMLS Mortgage Loan Originator ID 10930
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $740,000 | $740,000 | $740,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
Monthly Tax Payment | $454 | $454 | $454 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,202 | $4,556 | $6,145 |
Total Monthly Payment | $4,748 | $5,102 | $6,691 |
* 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.