This property presents itself as a remarkable opportunity for novice investors entering the real estate market. The proprietor has recently undertaken significant renovations, including the installation of a brand new roof and upgrades to the bathrooms in each unit. The duplex boasts exceptional durability, rendering it an ideal investment property for those venturing into the field. Its construction entirely comprises concrete block, eliminating the concern of tenants damaging any drywall. Furthermore, the flooring is composed of tile, obviating the need for replacement after each tenant vacates. The owner has implemented a variety of improvements over their tenure. In the initial year, blown-in insulation was added to enhance heat preservation. The ceiling, fashioned from tongue and groove wood, offers additional insulation to the units. Situated on an expansive lot, this duplex potentially allows for the addition of a small unit behind the existing structure, subject to approval from the city. However, what truly captivates tenants is the backyard, adorned with majestic overhanging trees that create a tranquil canopy. The backyard is securely fenced, affording a private and safe environment. This duplex epitomizes an excellent selection for both seasoned investors and individuals new to the realm of rental property ownership. Conveniently located in close proximity to downtown Leesburg, Carver middle school is easily accessible on foot. Conversely, in the opposite direction lies the public park. Virtually everything, such as buses, entertainment venues, restaurants, and grocery shopping, in a walking distance. This attribute entices tenants due to the sheer convenience of residing in this area.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$280,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $224,000 | $224,000 | $224,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.300% | 6.778% | 6.034% |
Monthly Tax Payment | $155 | $155 | $155 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,453 | $1,434 | $1,860 |
Total Monthly Payment | $1,683 | $1,664 | $2,090 |
* 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.