Nestled in the heart of Middletown, NY, this distinguished property offers an exceptional investment opportunity with a blend of residential charm and commercial viability. Situated at 256 E Main St, this detached multi-family gem boasts an impressive investment, perfectly accommodating a wide spectrum of living arrangements and lifestyles. Beyond its generous living quarters, this property features a lucrative commercial space, presenting a unique opportunity for store income to complement the residential aspect. With its prime location in a bustling area of Middletown, this space promises high visibility and foot traffic, making it an ideal spot for a variety of retail or service-oriented businesses. (For those with a vision to maximize space and increase potential income, there lies an upside through the additional studio or by adding it to the first floor apartment. Needs to be approved by city) Each residential unit within this property has been thoughtfully designed to offer both comfort and functionality, ensuring tenants feel right at home. The spacious layout, combined with ample natural light, creates an inviting atmosphere that is hard to resist. Furthermore, the strategic location of this property offers the dual benefits of both urban convenience and a sense of community. Situated within close proximity to a wealth of amenities, residents and commercial tenants alike will appreciate the easy access to shopping, dining, and recreational activities. This property does not only represent a place to live or work; it embodies a versatile investment opportunity with boundless potential. Whether you are looking to expand your real estate portfolio, or simply own a piece of Middletown's vibrant landscape, 256 E Main St stands as a compelling choice. Don't miss your chance to make it yours.
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William Raveis Real Estate
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VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $600,000 | $600,000 | $600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $865 | $865 | $865 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,992 | $3,988 | $5,060 |
Total Monthly Payment | $4,949 | $4,945 | $6,017 |
* 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.