This captivating micro-loft at 65 Weybosset Street, Providence, RI, presents a remarkable opportunity for investors seeking a high-performing asset in a vibrant urban core. Located within the historic Arcade Providence, a national landmark reborn as a modern retail and residential complex, this 265-square-foot unit boasts a proven track record of success as a sought-after Airbnb rental. This meticulously designed unit capitalizes on this trend, offering a functional and stylish living space ideal for short-term stays. The turnkey, highly-rated Airbnb listing has several profitable dates reserved translating to immediate income potential for the new owner. Situated in the heart of downtown Providence, short distance from restaurants, shops, theaters, and nightlife. If you prefer to use it as a downtown residence, this is the perfect solution for the savvy urbanite seeking a stylish and central location without the hassle of maintaining a large space. Embrace the minimalist lifestyle and live large in the heart of Providence!
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Our Executive Mortgage Banker:
Our Insurance Division:
$215,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $172,000 | $172,000 | $172,000 |
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% | 7.159% | 6.538% |
Monthly Tax Payment | $188 | $188 | $188 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,173 | $1,143 | $1,475 |
Total Monthly Payment | $1,436 | $1,406 | $1,738 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.