Excellent for Investors, Business Owners, and Owner-Occupied. Renovation required. Large two-family home in mixed-use residential area near Elliott Hospital. Building includes a 3-bedroom/1 bathroom main house and a 2-bedroom/1 bathroom attached unit. Currently Vacant, so buyer has full control of rents in a very desirable market. New Certificate of Compliance issued December 2024. New roof and underlayment as of November 2021. High ceilings and lots of windows look out over a large yard. Private driveway off of private way from main road. Two sitting porches (one per unit) with private entrances to each unit. The units share very few walls, boosting privacy and noise reduction. The property and neighborhood provide unique advantages in recreation, services, privacy, and logistics: Easy access to highways (101 and 93 under one mile) and local points of interest (retail/shopping on South Willow Street, dining, nightlife, city services on Elm Street–both less than two miles away). Lake Massabesic is just 3 miles away, via nearby Rockingham Recreational Trail. Active neighborhood with a "Very Walkable" rating on WalkScore (71). Overall, this property is an opportunity to own a high-quality income-generating asset in one of Manchester's best-connected neighborhoods. Property abuts several non-conforming lots and also abuts a B-2 General Business zone. Adaptability and flexibility are both high for this property, with variance.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $372,000 | $372,000 | $372,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.508% | 7.171% | 6.392% |
Monthly Tax Payment | $521 | $521 | $521 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,538 | $2,472 | $3,164 |
Total Monthly Payment | $3,134 | $3,068 | $3,760 |
* 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.