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Welcome to this well-built home located in one of New England's most storied communities. Built in 1923 this unique home is full of charm and character and this property presents a remarkable opportunity for buyers with vision who appreciate strong bones and exciting renovation potential. The generous square footage provides a canvas ready for transformation. The quality of the original construction is evident throughout, including original hardwood floors and exquisite woodwork. Enjoy a new heating system converted from oil to gas, updated electrical wiring, some windows have been replaced and there is a new roof over the porch. Fresh paint, restored hardwood kitchen floor and new decking on front porch cannot be overlooked. There is ample backyard space complete with a 1 car detached garage. Downtown Salem District sits just moments away, offering eclectic dining, boutique shopping, and vibrant cultural experiences along charming Federal Street. Easy show, text listing agent and show
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Our Executive Mortgage Banker:
Our Insurance Division:
$550,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 617.281.4872
Kate.Rockett@raveis.com
NMLS Mortgage Loan Originator ID 1500191
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $440,000 | $440,000 | $440,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.750% | 6.125% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.275% | 6.284% | 5.595% |
| Monthly Tax Payment | $498 | $498 | $498 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,568 | $2,673 | $3,566 |
| Total Monthly Payment | $3,158 | $3,263 | $4,156 |
* 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.