Take advantage of this great opportunity to own a 2-unit property with tons of income-earning potential in downtown Burlington! Each unit occupies a different floor in the building with separate entrances for added privacy. The units also connect, giving you the opportunity to owner-occupy with a private space for in-laws or guests on the second floor. The lower level unit has 2 bedrooms, 1 bathroom, a spacious kitchen and access to the basement with approx. 150 sq. ft. of finished storage space and a ¾ bathroom. A second huge storage space exists in the basement with an access door from the basement and another out to the street. Perfect for bikes, skis, lawnmower, etc. The upstairs unit is permitted 1 bedroom, 1 bathroom with two additional rooms for multi-use and a kitchen. Recent updates include new carpet in the lower level, new carpet and paint in the upper unit (2023), new fridge in the lower unit (2023), brand new fridge & stove in the upper unit, and a newer furnace (2019). Outside, sit and enjoy your morning coffee on the large front porch or take advantage of your fenced backyard with space for a garden. Great location in the heart of Burlington, easily accessible from Rt. 7, close to I-89, UVM, Champlain College, Callahan Park, Lake Champlain, schools, shopping, dining and everything downtown Burlington has to offer!
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Our Executive Mortgage Banker:
Our Insurance Division:
$480,000
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 | $384,000 | $384,000 | $384,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $899 | $899 | $899 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,620 | $2,552 | $3,238 |
Total Monthly Payment | $3,594 | $3,526 | $4,212 |
* 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.