Property Overview: Experience the ideal blend of comfort and convenience with this multi-family property located in the heart of Yonkers, NY. This well-maintained building offers a variety of rental options, suitable for diverse tenant needs. With a total of 7 apartments, the property generates a substantial rental income, with an additional opportunity to further increase revenue with a vacant unit. Current Rental Details: Apt #1: $975/month Apt #2: $2, 100/month Apt #3: $2, 100/month Apt #4: Vacant (Opportunity for new rental income) Apt #5: $930/month Apt #6: $980/month Apt #7: $1, 150/month Total Current Rent: $8, 235/month (excluding potential income from vacant apartment) Key Financials (2022): Insurance: $4, 770/year Taxes (City and County): $12, 056/year City of Yonkers Water: $3, 910/year Con Edison (Heat & Electricity): $9, 740/year Highlights: Prime location in Yonkers, NY, offering easy access to local amenities. Diverse rental units catering to a range of tenant preferences. Well-maintained property with consistent rental income. Opportunity to optimize revenue with vacant unit. Reliable investment with stable annual expenses. Investment Potential: This property represents a prime investment opportunity in a sought-after area. The current rental income, combined with the potential additional revenue from the vacant unit, makes it an attractive option for investors seeking stable and growing returns.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,150,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $920,000 | $920,000 | $920,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
Monthly Tax Payment | $1,005 | $1,005 | $1,005 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,516 | $5,967 | $8,014 |
Total Monthly Payment | $6,646 | $7,097 | $9,144 |
* 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.