This well-maintained, large duplex-style 2-family home is ideally located in the heart of downtown Dover, making it a perfect opportunity for both investors and owner-occupants. The property features two spacious units with plenty of flexibility in usage. The larger unit #25 offers 3 bedrooms, 1 1/2 baths, and 3 bonus rooms on the third floor. This unit is heated by natural gas, providing efficient warmth throughout the space. The second unit #27 includes 2 bedrooms, 1 1/2 baths, and an enclosed porch. A walk-up attic provides a bonus room for added versatility. Unit 2 is heated by an oil furnace, and a mini-split heating and AC system offers a secondary heat source. Unit 2 has been updated with new flooring and carpeting throughout in 2022. Each unit also features a finished third-floor area, offering extra space that can be adapted for various uses. The property includes two large fenced-in backyards, a 12x18 shed, and plenty of off-street parking. Additional storage is available under the enclosed porch. This property is conveniently located just minutes from downtown Dover, with easy access to major highways (Rt 16 and Rt 95), shopping, restaurants, golf courses, and more. The vibrant downtown area offers a variety of activities, and the home is within walking distance to all that Dover has to offer. Whether you're looking for a multi-family investment property or a spacious home with rental potential, this property offers a great opportunity in a prime location.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $496,000 | $496,000 | $496,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | $869 | $869 | $869 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,342 | $3,297 | $4,183 |
Total Monthly Payment | $4,303 | $4,258 | $5,144 |
* 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.