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Did someone mention "under $2000"? In the Spring Market of 2025?
Sharing properties like 186 Utica Avenue is genuinely one of my favorite aspects of my profession.
It's not solely due to its stunning apartment in a lovely neighborhood - it's because every now and then, I encounter a deal that truly has the potential to transform lives - a rare opportunity to safeguard against inflation and escalating living expenses, all without needing to leave Brooklyn or downsize.
About the building - This is a well-cared-for 6-family residence that has remained within the same family for many years. The owners appreciate and collaborate well with long-term tenants, managing the property themselves. The units are attractively priced and rent with multiple offers within hours of being listed.
About the apartment - Residence 2F is a renovated studio on the Parlor floor (just 1 flight up) with high ceilings and French doors. This unit feels and functions like a one-bedroom. This home is full of the charm, character, and natural light that draws you to Brooklyn.
Simply put, this home is a breath of fresh air in a tight market.
Interested? Let's talk!
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,950
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 | $1,560 | $1,560 | $1,560 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.750% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.894% | 6.936% | 6.006% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $9 | $10 | $13 |
Total Monthly Payment | $84 | $85 | $88 |
* 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.