RUTLAND CITY, VT - Here is an exceptional investment opportunity with a total of 8 potential income-generating units! This property features a 7-unit multi-family building and an inviting single-family home. Crafted with a mix of brick and wood frame construction, the 7-unit building stands as a testament to enduring quality and timeless appeal. The current owners have experienced significant profits, showcasing the remarkable rental potential of these well-maintained units. The central location of these units provides easy access to bus routes and daily necessities, ensuring effortless commutes and errands for tenants and owners alike. This added advantage enhances the property's overall appeal, addressing the practical needs of residents. What sets this investment apart from the rest is the rarity of finding a property with so many units that consistently yield strong cash flow. The prospect of owning 2 buildings with a total of 8 units is an extraordinary opportunity for astute investors. 14 & 14. 5 Cottage Street is a solid investment in Rutland's real estate, offering a total of 8 units that promise enduring construction, a strategic location, and proven profitability. Cap rate over 10% at list price when fully rented! 4 other properties from the same portfolio are also currently listed for sale. Please inquire for further information regarding the other properties. Will not consider creative financing.
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William Raveis Real Estate
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VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $568,000 | $568,000 | $568,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.171% | 6.518% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,875 | $3,775 | $4,870 |
Total Monthly Payment | $3,967 | $3,867 | $4,962 |
* 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.