The subject property is a 3 Stories, 3, 300 Sq. Ft. 6 Family building located in prime location on Hillside Ave, Off Lefferts Blvd. The building includes (6) One Bedroom Apartments. All aprtments are rented, they have high ceilings, and are in good condition. The boiler is 4 years old and the water heater is 2 years old. All apartments pay for their own electric and cooking gas. The roof is in good condition. The building is located off Lefferts Blvd and is close distance to Subway J & Z Subway Train on the corner of 123 St and Jamaica Ave. There is the Leffers Shopping Center on the corner and it is close to many stores and restaurants and banks. The income is as follows: Apt 1A $1, 442 Apt 1B $2, 000 Apt 2A $1, 400 Apt 2B $1, 300 Apt 3A $1, 545 Apt 3B $1, 297 Monthly Gross Income $9, 051 Heat $3, 000 Insurance $3, 000 Water $2, 000 Tax $16, 000 Total Net income $84, 612 Cap Rate 6%
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NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,140,800 | $1,140,800 | $1,140,800 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | $1,333 | $1,333 | $1,333 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,388 | $6,932 | $9,397 |
Total Monthly Payment | $7,846 | $8,390 | $10,855 |
* 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.