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Furnished Duplex in Magnolia Heights — Solid Returns & Location Perks…….
Tired of playing the stock market rollercoaster? Here’s your off-ramp. This furnished duplex in the desirable Magnolia Heights neighborhood of St Petersburg, FL, is your chance to own a solid, income-producing property that meets the 1% rule. Yes, that mythical benchmark investors dream of. No smoke, no mirrors—just steady cash flow in a neighborhood on the rise…….
Long-term rents historically pulled in $3, 925/month, with mid-term reaching $4, 500/month. . . . . Both units are currently vacant and furnished, so you can start earning income the minute the ink dries………. .
This property isn't fancy and will need some updating over the years, but it’s effective and it works just as it is. Currently there are updated kitchens, durable luxury vinyl floors (2022), separate mini split and central HVAC setups (2022), a newer roof (2021), and a termite tenting already handled (2022). One electric and one water meter keeps things simple…….
Live in one, rent the other. Rent both. Or knock it down and build your own Magnolia Heights dream home on this oversized lot that is just two doors down from million-dollar new construction homes. That’s the kind of flexibility investors and future homeowners *actually* want and need…….
No flood zone. No nonsense. Just high-and-dry, Florida living a stone’s throw from:
…. . Vibrant downtown St. Pete’s museums, shops, music, sports & dining
……Trader Joe’s, Whole Foods, Publix, The Blend Coffee & Wine Bar, craft breweries, and more
…. . Easy access to our Gulf Coast: Fort De Soto and Pass-a-Grille beaches
…. Whether you’re an investor, house hacker, or long-term planner, this one’s got options—and income—from day one.
…. This neighborhood is elevating fast and shows no signs of slowing down. Be sure to book your appointment today.
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Our Executive Mortgage Banker:
Our Insurance Division:
$434,900
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 | $347,920 | $347,920 | $347,920 |
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 | $432 | $432 | $432 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,199 | $2,286 | $2,913 |
Total Monthly Payment | $2,706 | $2,793 | $3,420 |
* 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.