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Presented by![]() The Lu-Ann Perkins Team |
Opportunity knocks! 4 family with a 3 c detached garage across from the Gales Ferry Library/ community center. Units are occupied, second floor unit (largest unit) will be empty by July 1. Tenants are month to month. Rents are below market. All units are electric heat (tenants pay). It is city water but metered for each unit (tenants pay). There are no dishwashers or laundry. The garage has been used for storage, none of the garages are included in the tenant rentals so may have additional rental potential. The current owners have rented it as 3-1 bdrm units and 1-2 bdrm unit. The 2 bdrm unit was a 3 bdrm at one time and a wall was taken out to make it 2. Town card has the property as 8 bedrooms.
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William Raveis Real Estate
Phone: 860.625.1354
LuAnnPerkinsTeam@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.585.3916
Bobby.Kazarian@raveis.com
NMLS Mortgage Loan Originator ID 1875225
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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Loan Amount | $399,920 | $399,920 | $399,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.867% | 7.159% | 6.538% |
Monthly Tax Payment | $451 | $451 | $451 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,694 | $2,658 | $3,429 |
Total Monthly Payment | $3,220 | $3,184 | $3,955 |
* 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.