This iconic property set in the Village of Meriden, has been in the same family since 1961. It consists of an antique Colonial (built 1790) single-family residence, which has also contained a 2nd unit at times, with extended heated, multi-floor shop spaces (approx. 5000 sf, including offices), and sheds. The property lies in the Village Residential Zone, but has had a commercial ceramic art and design studio operation grandfathered for use on the property for many years. The zoning district does allow home occupations in a single-family residence as a permitted use, and inn/B&B, office, restaurant, multi-family, private school, cottage business, approved business project, elderly housing, and other uses as Special Exceptions. It would seem to have great potential for single-family plus a studio, shop, contractors' shop, artisanal crafts, etc. The shop has a separate 200 amp service. There may also be potential for large-scale gardening, with a flat, open 3. 7 acre lot (per town; deed and survey cite 5. 1 acres)--town GIS map show much of lot as "Farmland of Local Importance". The house, though completely livable, has had renovations, but is in need of completed work in some areas; it features a lovely side porch and open kitchen/great room, grassy lot with gardens and apple trees. Property has a great location, across the street from beautiful Kimball Union Academy, and within 10-15 minutes of downtown Lebanon and I-89.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $240,000 | $240,000 | $240,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.250% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.357% | 6.419% | 5.668% |
| Monthly Tax Payment | $685 | $685 | $685 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,420 | $1,478 | $1,945 |
| Total Monthly Payment | $2,180 | $2,238 | $2,705 |
* 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.