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Turnkey Mixed-Use Investment - Fully Remodeled in the Heart of Norwich Outstanding opportunity to acquire a fully renovated mixed-use property consisting of two residential units and one commercial office/retail space, centrally located in the heart of Norwich. Well suited for investors or owner-occupants seeking strong cash flow with limited future capital needs. The property has undergone a complete renovation, featuring new mini-split heat pump systems for efficient heating and cooling, new flooring throughout, and modernized kitchens with new cabinets, updated countertops, and stainless steel appliances. Bathrooms have been fully upgraded with tiled showers, new fixtures, and new light fixtures throughout. Significant mechanical and infrastructure improvements include updated electrical and plumbing systems, New heat pumps and head units, new water heaters, and updated utility meters, including a separate owner's meter and electrical panel for improved utility management and expense tracking. Additional exterior upgrades include a new roof and a newly rebuilt deck/stairs, providing long-term durability and tenant appeal. With its prime Norwich location, extensive renovations, and efficient utility configuration, this property represents a true turnkey, income-producing asset with excellent long-term upside.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
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$330,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 860.625.5780
Brianna.Turgeon@raveis.com
NMLS Mortgage Loan Originator ID 2104486
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $264,000 | $264,000 | $264,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 5.990% | 5.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.137% | 6.132% | 5.396% |
| Monthly Tax Payment | $276 | $276 | $276 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,478 | $1,581 | $2,105 |
| Total Monthly Payment | $1,829 | $1,932 | $2,456 |
* 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.