Legal 2-Family Home in East New York with Income-Producing Potential! Welcome to 294 Schenck Avenue, a spacious legal 2-family townhouse located in the heart of East New York, Brooklyn. Offering approximately 2, 200 square feet of living space, this versatile property is ideal for end-users, multigenerational living, or investors seeking strong rental income potential in one of Brooklyn’s rapidly evolving neighborhoods. This classic Brooklyn home features a 2-bedroom, 1-bathroom owner’s unit over a 3-bedroom, 1-bathroom apartment, plus an additional finished basement with 1 bedroom and 1 bathroom. The layout provides flexibility for extended family, guest accommodations, or supplemental income opportunities. Inside, you’ll find generously sized living areas, high ceilings, original architectural details, and abundant natural light throughout. The property blends old-world Brooklyn character with everyday functionality, creating the perfect canvas for customization and value-add improvements. The upper unit offers spacious bedrooms and comfortable living and dining areas, while the lower apartment provides a practical layout perfect for tenants or an extended family. The finished basement adds even more usable space, making this property an exceptional opportunity for buyers looking to maximize square footage and long-term value. Situated on a residential block in East New York, the home is conveniently located near public transportation, shopping, schools, local restaurants, parks, and major thoroughfares. Residents enjoy easy access to the A, C, J, and Z subway lines, multiple bus routes, and nearby Jackie Robinson Parkway and Belt Parkway connections, making commuting throughout Brooklyn, Queens, and Manhattan seamless. Whether you’re a first-time homebuyer looking to offset your mortgage with rental income, an investor searching for a strong Brooklyn asset, or seeking flexible living arrangements, 294 Schenck Avenue presents an incredible opportunity to own a legal multi-family property in New York City. *Property will be delivered vacant.
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Our Executive Mortgage Banker:
$829,000
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
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $663,200 | $663,200 | $663,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | $133 | $133 | $133 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,714 | $4,030 | $5,552 |
| Total Monthly Payment | $3,939 | $4,255 | $5,777 |
* 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.