Presented byCristina Pittilloni |
Introducing your ideal investment in Milford, CT – a multifamily beach house with a prime location next to Silver Sands State Park. This property offers two separate units, making it a lucrative opportunity for investors or owner/investors looking to live in one unit while earning income from the other. The first floor includes an additional bedroom, adding flexibility to the property's layout. Whether you're expanding the living space for one unit or increasing the bedroom count for the other, this feature enhances the property's versatility. This property includes another valuable perk – an approved variance for duplex construction. Prime for developers or investors looking to capitalize on a hassle-free project in a desirable location. Discover an enticing homeownership opportunity! Offering the added benefit of owner financing, this residence presents a unique chance for flexible terms, a low down payment, and a simplified purchasing process. Unlock the door to your dream home with the convenience of owner financing. Situated with an unobstructed view of Charles Island, this home capitalizes on Milford's appeal as a beach destination, ensuring a steady demand for rental properties. Don't miss out on this straightforward and practical investment opportunity that combines coastal living with financial gains. Act now to make this multifamily beach house yours.
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Sales Associate
William Raveis Real Estate
Phone: 586.899.8940
Cristina.Pittilloni@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.521.7207
Christine.Preston@raveis.com
NMLS Mortgage Loan Originator ID 90874
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $680,000 | $680,000 | $680,000 |
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 | $687 | $687 | $687 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,132 | $4,467 | $5,970 |
Total Monthly Payment | $4,911 | $5,246 | $6,749 |
* 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.