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7 unit apartment building with long term tenants in place. Most leases have been renewed, rents shown are new rents. Current Owners have maintained this building extremely well. Majority of the heating systems are up to date, metal roof, vinyl siding, newer bathrooms, nice kitchens. newer windows. Potential to rent out storage space in the large garage in the back for extra income. Lots of tenant parking in the rear of the property. Heat is included in 6 of the units, however, each unit has a separate meter. Lots of hidden potential to increase profitability of this property. Walking distance on sidewalks to the bus route make this an easy property to rent. 5 one bedroom units 2 two bedroom units, some are oversized. Rents shown are for renewed leases starting on 6/1/25 see income statement.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,036,000 | $1,036,000 | $1,036,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.739% | 6.183% |
Monthly Tax Payment | $1,047 | $1,047 | $1,047 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,882 | $6,634 | $8,742 |
Total Monthly Payment | $7,054 | $7,806 | $9,914 |
* 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.