This well cared for turnkey duplex features two renovated spacious two-bedroom units and an NOI of ~$20K. Property is perfect for someone looking to occupy one unit and have property expenses and mortgage offset by renting the other. If held as investment, this duplex has the potential for 15%+ annual cash on cash returns, and significant upside at sale (without taking into account any expected organic price appreciation). The property has been professionally managed with recent updates and renovations across interior units and exteriors. One unit has been kept vacant prior to listing for potential owner-occupancy, or keep both units rented-for strong cash flow (vacant unit can be rented for a minimum of $1, 400 as a condition to close). The 2x 2br apartments are spacious with an ideal layout, and access to the oversized backyard and ample parking. Efficient footprint and recent renovations keep operating expenses low! Property is walking distance from downtown shops and restaurants giving residents access to all Rutland has to offer. This is also an excellent opportunity to enter the market ahead of the historic multibillion dollar development taking place around Killington nearby, which is already starting organic appreciation in property values. This property can be also be purchased with additional buildings in the area for someone looking to scale. Listing agent is a member of the LLC that owns the property.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $171,920 | $171,920 | $171,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.483% | 6.273% | 5.268% |
Monthly Tax Payment | $306 | $306 | $306 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,045 | $1,045 | $1,359 |
Total Monthly Payment | $1,426 | $1,426 | $1,740 |
* 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.