Begin earning income right away. This home offers a perfect opportunity to live in one unit and rent the remaining. Whether you choose to live in the single family home and rent out the back building or rent all units, this property offers a ton of income potential and appreciation. This home exudes Old Southeast Charm. Only 1 mile to Central Ave Downtown St Pete, University of South Florida and 3 blocks from Lassing Park and the Bay. This property has 2 separate buildings. The Main home has 3 bedrooms, an office, and 3 bathrooms. The sunroom is bright and inviting as you enter. Charming wood floors run throughout the home. The large kitchen is open to a bright and airy living room/ dining room space. The bedrooms are set up in a 3 way split making it perfect for privacy or rental situations. There is even a sweet artist loft in the living room. The concrete block back building offers even more income. The downstairs back unit has 1 bed and 1 bath. The upstairs unit has 2 beds and 1 bath. Currently renting as 2 units; however, with a simple door installation and a narrow wall to block a staircase, you would have 3 income producing units. Aside from the door installation, these units are renovated and ready to go! The exterior of this home is just as inviting with a peaceful courtyard and bar area connecting both properties. Solar panels (nothing owed), Laundry room, outdoor shower, brick roads and tons of possibilities! Don't miss out on your chance to live in this eclectic community! Currently single family home rents for $3600 month (includes utilities), Back unit currently rented for $2, 000/ mth. (once the door is added, would bring in an additional $1600+ /mth). Possible Owner Financing
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William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $796,000 | $796,000 | $796,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.000% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 7.103% | 7.041% |
Monthly Tax Payment | $600 | $600 | $600 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $5,430 | $5,296 | $7,099 |
Total Monthly Payment | $6,122 | $5,988 | $7,791 |
* 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.