Welcome to the lake! This unique property features two completely updated, fully furnished cottages, offering stunning mountain and Newfound Lake views. Situated on a spacious corner lot, the property provides ample outdoor space, with a level front yard perfect for yard games, and a fenced backyard offering privacy between the two cottages. Each cottage has 3 bedrooms and 2 bathrooms, featuring an open-concept kitchen, living, and dining area. The kitchens are equipped with modern stainless-steel appliances and quartz countertops, while the living areas are highlighted by new pellet stoves. The property has been thoughtfully improved with modern amenities, including Trex decking, vinyl plank flooring, new roof, plumbing, water heaters, & driveway, to name a few. Equipped with separate electric meters, this property allows easy management of utilities as well as mini-split heating & cooling systems and their own washer and dryer. A large shed offers additional storage or could be finished off to create more living space. Cottage B also comes with permitting in place for expansion, allowing it to be transformed into a 4-bed, 4-bath home, perfect for future growth. This property has proven to be a lucrative investment, with over $120K in rental income generated over the past 2 years. The location is equally desirable- all within walking distance is the public beach, the popular Big Catch Restaurant and Ledgewater Steakhouse just up the hill. Schedule your showing today!
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $743,920 | $743,920 | $743,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.875% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.820% | 6.597% | 6.158% |
Monthly Tax Payment | $497 | $497 | $497 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,401 | $4,702 | $6,278 |
Total Monthly Payment | $4,990 | $5,291 | $6,867 |
* 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.