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Welcome to 545 Logan Street, a spacious multi-family opportunity in the heart of East New York. Offering generous living space and a flexible layout, this property is ideal for both investors seeking income potential and end users looking to create a customized home while benefiting from additional rental income. The property is in need of cosmetic updating, presenting an excellent opportunity to add value through improvements such as new flooring, paint, updated kitchens and bathrooms, and modern finishes. The existing layout provides multiple living areas, well-proportioned bedrooms, and a finished basement with additional usable space. Natural gas heating adds everyday efficiency and convenience. The property will be delivered completely vacant, giving buyers the flexibility to begin renovations immediately, select their own tenants, establish market rents, or occupy the property without having to manage existing tenancies. Investors will appreciate the opportunity to renovate, reposition, and maximize the property’s income potential, while owner-occupants can update the home to their own taste and offset their housing expenses with income from the additional units. A spacious rear yard provides room for outdoor entertaining, recreation, or gardening. Conveniently located near shopping, public transportation, major roadways, schools, and neighborhood amenities. With the right vision and improvements, 545 Logan Street offers tremendous upside and long-term potential. Property is being sold as-is and delivered vacant. Buyers and buyers’ representatives should independently verify the property’s legal use, occupancy, layout, and all information with the appropriate New York City agencies.
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Our Executive Mortgage Banker:
$850,000
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 | $680,000 | $680,000 | $680,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | $251 | $251 | $251 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,755 | $4,077 | $5,647 |
| Total Monthly Payment | $4,098 | $4,420 | $5,990 |
* 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.