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Exceptional mixed-use investment opportunity offering a rare blend of dependable income, historic significance, and long-term appreciation potential in the heart of North Salem. This one-of-a-kind property encompasses three income-producing structures across two mailing addresses and is zoned for both neighborhood business and residential use, providing exceptional flexibility for investors. Ideally situated with immediate access to I-684 and just moments from the Purdy's Metro-North station, the property enjoys outstanding commuter convenience and sustained tenant demand. Located within the highly sought-after North Salem School District, this is a truly unique offering in one of Northern Westchester's most desirable and tightly held communities. Anchoring the property is a striking three-bedroom Craftsman-style residence that lives like a four, believed to have been rebuilt in 1940, offering a rare blend of historic character, craftsmanship, and enduring appeal. The home has been thoughtfully maintained and enhanced through substantial capital improvements, including a newer roof, HVAC system, central air conditioning, and updated septic systems, providing lasting value and operational confidence. One of the property's most distinguished attributes is the historic Purdy's Station Post Office, an irreplaceable community landmark combining rich heritage with dependable long-term tenancy and a cherished community landmark that has served the area for nearly 180 years. Occupied under a long-term lease, the post office provides a stable, government-backed income stream and has been extensively renovated to meet modern operational standards while preserving its historic character. Above the post office, a spacious two-bedroom, one-bath apartment generates additional rental revenue, further strengthening the property's diversified income profile. Adding yet another revenue-generating component is a detached four-car garage, originally built in 1925, with existing leases extending through May 2027. This additional income-producing asset enhances cash flow while presenting future flexibility and potential value-add opportunities. Combining multiple established income streams, long-term tenancy, favorable mixed-use zoning, significant infrastructure improvements, and an irreplaceable location near major transportation corridors and commuter rail service, this is a true legacy asset positioned for both stability and growth. Opportunities of this caliber are exceedingly rare!
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Our Executive Mortgage Banker:
$1,495,000
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
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,196,000 | $1,196,000 | $1,196,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.086% | 6.183% |
| Monthly Tax Payment | $1,688 | $1,688 | $1,688 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,791 | $7,171 | $10,093 |
| Total Monthly Payment | $8,604 | $8,984 | $11,906 |
* 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.