INVESTORS TAKE NOTICE POTENTIAL FOR MORE APARTMENTS OR COMMERICAL SPACE FOR OFFICES OR RETAIL and own a piece of history located in Centerbrook on . 74 Acre on Falls River waterfront. Originally built in 1858 for the production of ivory goods then in 1888 sold and became a manufacturing haven for brushes of various types. In the 19th century it became a wood turning shop. The business was sold in about 1934 to the Empire Brush Company and in about 1939-1940 it was sold and the new owners manufactured kitchen cabinets. Over the years additions were made to the original property. Now there are 5-7 units comprised of residential and commercial uses. Two apartments and 5 office/retail spaces totaling 7, 300 sq. ft. This unique property known as "The Brush Factory" boasts a wide variety of opportunity to the investor looking for old world charm with new ideas or to an owner that would like a great place to live with waterfall views and great rental income.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $900,000 | $900,000 | $900,000 |
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 | $697 | $697 | $697 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,252 | $5,689 | $7,595 |
Total Monthly Payment | $6,074 | $6,511 | $8,417 |
* 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.