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**Charming Single-Family Home with Investment Potential in Prime Elmhurst Location** Nestled in the heart of Elmhurst, this centrally located single-family residence offers a unique opportunity for homeowners and investors alike. Boasting two floors and a finished basement, the property is thoughtfully designed to accommodate comfortable living with the added advantage of potential conversion into a two-family home. Key Features: Second Floor: Features two well-appointed bedrooms, a full bathroom, a combined living and dining area, and a fully equipped kitchen. Natural light floods the space, enhanced by a charming skylight that adds warmth and ambiance. First Floor: Comprises three bedrooms, a living/dining area, and a fully equipped kitchen, providing ample space for family gatherings and entertainment. Leads to patio and backyard. Finished Basement: Offers additional living space complete with a half bathroom, ideal for a recreation room, home office, or guest suite. Outdoor Space: Enjoy a sizable backyard featuring a patio, perfect for outdoor dining, gardening, or relaxation. Additional Highlights: Prime Location: Situated in a vibrant neighborhood, the property is conveniently located near several shopping destinations, including Queens Center Mall, a major retail hub featuring over 200 stores, including anchor tenants like Macy's and JCPenney. Public Transportation: Commuting is a breeze with the Woodhaven Boulevard subway station just an 8-minute walk away, providing access to the E, F, M and R train. Investment Opportunity: With its layout and design, the property holds significant potential for conversion into a two-family home, making it an attractive prospect for investors seeking rental income or multi-generational living solutions. Customization Potential: While the home requires some tender loving care (TLC), it presents a fantastic opportunity for buyers to infuse their personal style and updates, enhancing both comfort and property value. Seller's Note: This property is being sold "as-is, " reflecting the seller's motivation for a swift transaction. It's an excellent opportunity for investors or families looking to customize a home in a sought-after location. Tenant occupied on second floor. "DO NOT DISTURB". House will be delivered empty at closing. Don't miss out on this versatile property brimming with potential. Schedule a viewing today and envision the possibilities that await! ACCEPTED OFFER! Currently showing and accepting backup offers.
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$699,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $559,200 | $559,200 | $559,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.490% | 5.490% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.695% | 6.649% | 5.764% |
Monthly Tax Payment | $458 | $458 | $458 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,219 | $3,531 | $4,566 |
Total Monthly Payment | $3,769 | $4,081 | $5,116 |
* 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.