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Rare Stonington three-family opportunity at 28 Moss Street in Pawcatuck! Whether you are looking to expand your investment portfolio or take advantage of an owner-occupancy "house hacking" opportunity, this property offers tremendous potential in a highly desirable location. Just a short walk or quick drive to vibrant downtown Westerly, Rhode Island, you'll enjoy easy access to restaurants, boutique shopping, coffee shops, parks, and year-round events, while Mystic and the Connecticut shoreline are just minutes away. Stonington multi-family properties are a rare find, making this an excellent opportunity to build equity and generate strong rental income. A brand-new boiler installed in 2025 provides added peace of mind. The spacious first-floor unit offers 2 bedrooms, 1 full bath, updated cabinetry, granite countertops, an updated bathroom, and stackable laundry, with only a few finishing touches needed to bring it fully together. The second-floor unit features 2-3 potential bedrooms, 1 full bath, beautiful hardwood floors, and is in excellent condition. The third-floor unit is currently receiving a cosmetic refresh with new vinyl plank flooring and fresh paint, with additional upside available through future kitchen and bath improvements. Outside, enjoy an inviting front porch, a private driveway along with additional street parking, a tiered rear deck, and a surprisingly flat backyard perfect for entertaining, relaxing, and enjoying the outdoors. A rare chance to own an income-producing property in one of Southeastern Connecticut's most convenient and walkable locations. Please and take a look!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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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 | $396,000 | $396,000 | $396,000 |
| 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 | $404 | $404 | $404 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $2,372 | $2,500 | $3,262 |
| Total Monthly Payment | $2,851 | $2,979 | $3,741 |
* 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.