CONTRACTOR/INVESTOR SPECIAL. Single family home in Melrose. Elevated lot with a South facing orientation. Two bedrooms upstairs. Kitchen, Dining and Living room on the first floor. Small Enclosed porch at front entry plus large enclosed porch at the rear entry, Patio off the rear defines a tidy space for outside dining. Will make a wonderful home with a some investment and sweat equity. Imagine a brand new open concept eat-in kitchen with quartz countertops and lots of light. Brand new full bathroom with modern lighting and tile. Manageable opportunity for an owner occupied do-it yourself project. The timing is right to complete a six month flip for resale at the peak of spring market. CONTRACTORS - secure your next MELROSE tear-down and rebuild project. Natural gas. Public water and sewer. It's all there and ready to go. Showings to begin ASAP. #73319222
Type | Level |
---|---|
Bedroom 2 | Second |
Dining Room | First |
Kitchen | First |
Living Room | First |
Master Bedroom | Second |
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $351,920 | $351,920 | $351,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.339% | 7.017% | 6.120% |
Monthly Tax Payment | $340 | $340 | $340 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,312 | $2,312 | $2,946 |
Total Monthly Payment | $2,727 | $2,727 | $3,361 |
* 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.