Welcome to #521 Prospect Avenue aka ''Fernwood West'' a well established state licensed ''Residential Care Home'' facility located in beautiful West Hartford on a huge and flat (0. 66) acre lot. Originally built in (1880) and having since been refurbished / modernized including the mechanical systems. This is a lovely property with great curb appeal and an excellent location, especially for a highly successful (RCH) ''Residential Care Home''. The property consists of (16) rooms, (11) bedrooms & (4. 0) full baths, complete with a commercial kitchen, walk-up attic and a full / ''Very'' clean and tidy useable basement. This family owned property and business serves (18) residents daily and exhibits the (4) decades of family owned pride that went into the business and property every year. The delightful owners wish to finally retire and handover ''Fernwood West'' this wonderful business and gorgeous property to the new ownership who will carry on the tradition of serving the ever increasing senior population for which these essential service, location and property are in such high demand. Please note this business and property has (2) additional operations of the same ''Residential Care Home'' business and they are also both available. Those properties are: #27-29 Girard Ave (MLS# 170488575) #38 Girard Ave (MLS#170488574). PLEASE CLICK ARROW BELOW FOR ADDITIONAL FINANCIALS AND GROSS YEARLY INCOME DATA. RESIDENTIAL CARE HOME AKA ''FERNWOOD MANOR WEST'' CURRENT GUARANTEED INCOME PAID BY STATE OF CT DEPT OF ''DSS'' AT ($2, 760. 92) PER MONTH / PER RESIDENT WITH A FULL OCCUPANCY OF (18) RESIDENTS, THIS PROPERTY WILL PRODUCE TOTAL GROSS INCOME OF ($614, 911) YEARLY. CURRENT RENTAL RATE OF ($90. 77) DAILY PER RESIDENT IS ADJUSTED YEARLY EVERY JULY 1ST, TO ACCOUNT FOR COST OF LIVING INCREASES AND OPERATING EXPENSES. PRICING IS INCLUSIVE OF LONG TERM RESIDENTIAL CARE HOME ''RCH'' AS LICENSED BY STATE OF CT DEPT OF HEALTH. PLEASE SEE ATTACHEMENTS TAB FOR ADDITIONAL FINANCIAL INFORMATION.
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NMLS Mortgage Loan Originator ID 93047
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $679,920 | $679,920 | $679,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 7.125% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.531% | 7.228% | 7.041% |
Monthly Tax Payment | $1,446 | $1,446 | $1,446 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,242 | $4,581 | $6,064 |
Total Monthly Payment | $5,780 | $6,119 | $7,602 |
* 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.