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Incredible income-producing opportunity in the heart of Miami. Located in the desirable Douglas Park area, this fully remodeled property offers exceptional flexibility for homeowners and investors alike. The main residence features 3 bedrooms and 2 bathrooms with spacious living areas that feel larger than what is reflected in the tax roll. Recent upgrades include all new plumbing, electrical, and AC systems throughout. In addition to the main home, the property features two separate efficiencies. Each efficiency has its own private entrance, its own patio, and its own outdoor living space, making them feel less like add-ons and more like standalone retreats. Whether you envision them as income-generating rentals, a private guest house, or an in-law suite, the versatility here is unmatched. One efficiency includes a kitchenette and full bathroom and is currently occupied, while the second is a beautifully updated 1-bedroom, 1-bath unit that is vacant and move-in ready. The main home is rented month-to-month, providing immediate income while maintaining flexibility for a future owner. With three potential income streams, ample outdoor space, and a prime central Miami location, this is a rare investment opportunity. Minutes from Miami International Airport, Calle Ocho, Coral Gables, Downtown Miami, and major highways. All information provided is deemed reliable but not guaranteed and should be independently verified by the buyer and buyer's agent.
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Our Executive Mortgage Banker:
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$699,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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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 | $559,200 | $559,200 | $559,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.490% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.615% | 5.866% |
| Monthly Tax Payment | $740 | $740 | $740 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,349 | $3,531 | $4,606 |
| Total Monthly Payment | $4,181 | $4,363 | $5,438 |
* 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.