This beautiful 12-unit Motel has it all; stunning views of Lake Francis, updated units, great rental history, convenient location off of Route 3, deeded access to nearby snowmobile and ATV trails, and there is even a propane filling station for some added income. There are 11 spacious two-bedroom units and one cozy studio, each unit equipped with kitchenettes and a 3/4 bath. Your guests can relax and enjoy a nice cup of coffee on the back deck while watching the sunrise over the lake. There's plenty of room for guests to park, even during snowmobile season with trailers. Equipped with a generator for storm-proof reliability, guests can rest assured of uninterrupted comfort during inclement weather. Don't miss out on this unique, and rare investment opportunity! Please reference MLS #3993060 for commercial listing
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $680,000 | $680,000 | $680,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.750% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | $667 | $667 | $667 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,968 | $4,298 | $5,738 |
Total Monthly Payment | $4,727 | $5,057 | $6,497 |
* 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.