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Looking for a starter home and willing to put in some sweat equity? Or looking to downsize and have the resources to throw at a renovation? This 2 bedroom, 1 bath, 736 square foot, bungalow built in 1945 may just be what you have been waiting for. It's a project no doubt but one that is manageable. It's being sold as is, but it has strong bones and working mechanical systems. There are hardwood floors throughout and the original fixtures and details are charming. There is an attached 1 car garage, and it sits on a small, easy to maintain . 25 acre lot. It still has the original slate roof which can last 100+ years when maintained and its clad with aluminum siding which is in great condition. The electrical system looks to be original as it's still on fuses, so that will definitely need to be upgraded unless you don't use any electronics. Above the garage is an extra room with a non functioning half bath. The seller believes this could be resurrected by replacing the waste line to the toilet. There is a large attic for storage and a full unfinished basement with a large stone double utility sink and laundry hook ups. All but 4 of the windows have been replaced at some point in time and are double paned insulated glass windows. This house has so much potential!!
FHA may not work due to chipped and peeling paint on the original windows, but an FHA 203K renovation loan would work and is a great way to fund the needed electrical upgrade and other renovations.
The location is excellent, sitting on the Village of Chatham and Ghent line in a great neighborhood, you are a block from the fairgrounds. And there are sidewalks all the way to Hudson Ave, Chatham schools, and Main Street shops and restaurants should you feel the urge to walk to dinner and movie. Enjoy the village lifestyle without the village taxes!
Information is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Source: Hudson Valley Catskills Region
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $172,000 | $172,000 | $172,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.615% | 5.952% |
| Monthly Tax Payment | $170 | $170 | $170 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,030 | $1,086 | $1,428 |
| Total Monthly Payment | $1,275 | $1,331 | $1,673 |
* 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.