"Short term rental income opportunity. Vacation home part of the year and income property for the rest of the year. This condo may help pay for itself. " Look no further than this 2-bedroom, 2-bathroom corner unit condominium. It's a true hidden gem just one block from the ocean! Are you ready to dive into a real estate opportunity that's dripping with 80s charm and oozing with possibilities?
This property offers an ideal location. Situated between the river and the ocean, providing residents with convenient access to both.
Original owner featuring the original 1980s decor, presenting a unique opportunity for a full makeover. By investing your time and effort into renovating this unit, you may be able to capitalize on the potential for significant sweat equity.
In addition to the property's desirable location and renovation potential, the unit can also generate rental income, whether rented on a daily, weekly, or monthly basis. This rental income can help offset the carrying costs associated with the investment.
Buyer to verify all measurements. Buyer to confirm rental restrictions with condo association, city, county and any other governing agencies.
Seller requests all offers be submitted on most recent FAR/BAR rev 7/23 "AS IS" Residential Contract For Sale And Purchase contract.
No property disclosure. Property is in a Trust.
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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 | $183,840 | $183,840 | $183,840 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.760% | 7.042% | 6.160% |
Monthly Tax Payment | $334 | $334 | $334 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,270 | $1,208 | $1,539 |
Total Monthly Payment | $1,679 | $1,617 | $1,948 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.