24 Old Tote Road, Orleans, MA, 02653 | $985,000

Attention, investors and employers: This thoroughly renovated, legal three-family property in the center of Orleans makes for a strong income producer or tremendous employee housing. The three units are separately metered with completely new electric services and a conversion to heat pumps with a/c. The main building consists of a 1015 sq ft two bedroom first floor apartment with a living room, a cathedral family room overlooking the lawn, a full-sized granite and stainless kitchen. Dedicated laundry and basement. The upstairs 530 sq ft one bedroom apartment is light and sunny with a cathedral living room and a kitchen/dining combo. It has dedicated laundry and basement access. The sweet one bedroom, detached 452 sq ft cottage underwent a gut-renovation and offers a kitchen, living room, in-unit laundry and a private deck. There is virtually no updating needed to any of the three units. The Seller is keeping the two-bedroom apartment vacant, one-year leases are in place for the upstairs apartment and the cottage. Newer 4 bedroom Title V, no sewer connection required until fall 2029.

Features

  • Rooms: 7
  • Bedrooms: 4
  • Baths: 3 full
  • Laundry: Washer Hook-up
  • Style: Cape
  • Year Built: 1949
  • Garage: Off Street, Paved
  • Heating: Electric Stove
  • Cooling: Wall Unit(s)
  • Basement: Walk-Out Access, Full
  • Approx Sq. Feet: 1,995
  • Acreage: 0.39
  • Est. Taxes: $4,195
  • Lot Desc: Bike Path, Medical Facility, Cape Cod Rail Trail, Shopping, In Town Location
  • School District: Nauset
  • Appliances: Electric Water Heater, Water Heater, Dishwasher, Refrigerator, Dryer - Electric
  • MLS#: 22501865
  • Website: https://www.raveis.com
    /prop/22501865/24oldtoteroad_orleans_ma?source=qrflyer
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Frank MerolaVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1020051

508.740.5922

Frank.Merola@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
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Allen.Gellerman@raveis.com

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24 Old Tote Road, Orleans, MA, 02653

$985,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Merola

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 508.740.5922

Frank.Merola@raveis.com

NMLS Mortgage Loan Originator ID 1020051

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $788,000 $788,000 $788,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.625% 6.125%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.614% 6.727% 6.309%
Monthly Tax Payment $350 $350 $350
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $4,474 $5,046 $6,703
Total Monthly Payment $4,916 $5,488 $7,145

* 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.