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Attention savvy investors and income property seekers! Welcome to 257 Main Street East-a custom-built, income-producing split-level home with an outstanding floor plan offering exceptional versatility and long-term value. Built with high-quality 2x6 construction, this solid property features two spacious, self-contained units-perfect for owner-occupants, investors, or multi-generational living. The main-level unit offers approximately 1, 855 sq ft across two levels, plus an additional ~350 sq ft of finished space-ideal for a game room, office, or playroom. This unit features 3 bedrooms, 2 full bathrooms, in-unit laundry, and a spacious 24' x 16' three-season room, perfect for additional living or entertaining space. The upper-level unit spans approximately 1, 465 sq ft over two levels and has been fully renovated. It includes 3 bedrooms, in-unit laundry, newer stainless steel appliances, and a private deck, offering turnkey living with strong income potential. Set on a beautiful lot with a great backyard, the property also features a detached garage with a full loft, providing excellent storage or workshop space, plus a 12' x 15' shed for additional utility. The heating system and the hot water heater are less than 4 years old, offering peace of mind and energy efficiency for years to come. This property has the potential of generating $4, 700+ per month in rental income. Recently appraised(August 2024) in as-is condition at $435, 000, with an after-repair value (ARV) estimated between $500, 000-$540, 000, this is your chance to secure a high-performing asset in a desirable area of East Windsor conveniently locate minutes from the highway and 20 minutes to either Hartford or Springfield. Whether you're looking to expand your portfolio, supplement your mortgage or secure a property with strong appreciation and income potential, this is the one you don't want to miss. This is NOT your TYPICAL 2 Family home, unique and one of a kind!
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $335,920 | $335,920 | $335,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.500% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.058% | 7.025% | 6.132% |
Monthly Tax Payment | $496 | $496 | $496 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,123 | $2,207 | $2,812 |
Total Monthly Payment | $2,694 | $2,778 | $3,383 |
* 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.