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366 North Avenue, Burlington, VT, 05401 | $695,000
Burlington RC Zone Investment Opportunity: Versatile Property with Income Potential This property is now in Burlington's RC zone, opening the door to a four-story apartment building project. It offers a unique opportunity to live in the main house while generating income from an accessory apartment and storage building. The main house is currently rented for $3, 500/month, with substantial improvements including a finished lower level, new gas fireplace inserts, radon mitigation, an updated heating system, a new washer/dryer, fresh interior paint, Nest thermostats, and more. The accessory apartment features a renovated kitchen with new cabinets, appliances, and flooring, and could rent for $2, 000/month. The outbuilding, used for storage, rents for $1, 200/month. The spacious garage, currently a workshop, can accommodate four cars and has potential for conversion into a home business space. The lot offers views of the Green Mountains, with the potential for creating a patio area to enjoy the scenery. Located close to all amenities, this well-maintained property provides plenty of living space, including a large open living room/kitchen, a first-floor bedroom with a new full bathroom, additional spaces for an office or den, and two bedrooms on the second level. Don't miss this versatile investment opportunity!
Features
- Rooms: 10
- Bedrooms: 5
- Baths: 3 full
- Units: 2
- Style: Colonial,Multi-Family,Walkout Lower Level
- Year Built: 1935
- Garage: 4-car Garage
- Heating: Baseboard,Forced Air,Hot Air
- Cooling: Central AC,Other
- Basement: Climate Controlled,Finished,Gravel,Stairs - Interior,Storage Space,Walkout,Interior Access,Exterior Access
- Approx Sq. Feet: 4,394
- Acreage: 0.3
- Est. Taxes: $13,129
- Lot Desc: City Lot,Level,Major Road Frontage,Sidewalks
- Elem. School: Assigned
- Middle School: Lyman C. Hunt Middle School
- High School: Burlington High School
- School District: Burlington School District
- MLS#: 5010130
- Website: https://www.raveis.com
/prop/5010130/366northavenue_burlington_vt?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 9/21/2024Listing courtesy of Four Seasons Sotheby's Int'l Realty Phone: 802-864-0541
Listing Agent: Kathleen OBrien
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Brian SkellyVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 793093
203.415.2989
Brian.Skelly@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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Our Insurance Division:
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
366 North Avenue, Burlington, VT, 05401
$695,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Brian Skelly
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 | $556,000 | $556,000 | $556,000 |
| 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 | $1,094 | $1,094 | $1,094 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,378 | $3,378 | $4,394 |
| Total Monthly Payment | $4,564 | $4,564 | $5,580 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484