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Approved Two-Family Development Opportunity in Newburgh’s East End Historic District. This is the opportunity serious investors and builders wait for. This house has a brand new roof, a solid brick two-family property located in the highly desirable East End Historic District, now offered with zoning board approval already secured for a thoughtfully designed two-family home — each unit featuring 3 bedrooms and 2 full bathrooms. Approved blueprints are included (a $5, 000 value), meaning you can move forward immediately. Save over $15, 000 in zoning costs and eliminate 3+ months of approval time — a major competitive advantage in today’s market where time truly equals money. The building itself offers strong bones and classic architectural elements, including generous room proportions, beveled glass doors, and a beautiful original staircase. Whether you choose to restore the existing charm or execute the approved plans for a modernized two-family layout, this property provides flexibility backed by approvals already in place. Located in the East End Historic District, the home may also qualify for valuable financial incentives, including potential 444a tax exemptions, SHPO historic tax credits, and available HVAC rebates — creating additional upside for the right buyer. Perfect for developers, builders, or owner-occupants seeking a streamlined path to construction, this is a rare time- and cost-saving opportunity with all major approvals completed. Bring your vision. Skip the delays. Start building.
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Our Executive Mortgage Banker:
Our Insurance Division:
$265,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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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 | $212,000 | $212,000 | $212,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.395% | 6.545% | 5.900% |
| Monthly Tax Payment | $263 | $263 | $263 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,271 | $1,323 | $1,746 |
| Total Monthly Payment | $1,609 | $1,661 | $2,084 |
* 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.