Ideal Two-Family Layout: Currently configured as a spacious 2-family residence, this property offers two separate units with ample space. The upper unit features 2 bedrooms and 1 bathroom, while the lower unit boasts an identical layout. Additionally, there is a studio unit, presenting multiple income-generating possibilities. 2. Rental Income Potential: With one long-term tenant already in place, paying $2, 150 per month, you'll have an immediate return on your investment. The other unit has the potential to bring in an additional $2, 200 per month, enhancing your cash flow and profitability. 3. Impeccable Condition: This property is in exceptional condition, having undergone recent renovations to ensure a comfortable and attractive living space for tenants. Minimal maintenance means more time for you to enjoy the benefits of your investment. 4. Ample Square Footage: With a generous 3, 000 square feet of space, there's plenty of room for your tenants to spread out and enjoy their living areas. 5. Outdoor Amenities: The rear deck and backyard access on the first floor provide a perfect outdoor retreat for residents to relax, entertain, or enjoy a barbecue. The outdoor spaces enhance the overall appeal of this property. 6. Convenient Parking: The property includes parking space for 2 cars in the front yard, ensuring your tenants have a hassle-free parking experience. Location: Situated in a desirable location, this property offers easy access to nearby amenities, schools, transportation, etc. Its prime location adds to its investment value and marketability. Don't miss this golden opportunity to secure a sound real estate investment with excellent cash flow potential. Whether you're an experienced investor or a newcomer to the market, this property offers an enticing blend of stability and growth potential. Explore the endless possibilities that this 2-family property can offer to your real estate portfolio. Invest wisely, invest in your future!
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $700,000 | $700,000 | $700,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.875% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.430% | 6.977% | 6.790% |
Monthly Tax Payment | $497 | $497 | $497 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,253 | $4,599 | $6,146 |
Total Monthly Payment | $4,842 | $5,188 | $6,735 |
* 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.