“Subject to” Deal for sale! - 4% Blended Rate (Northbridge MA)

[Nicolas Stanley]

Quick Highlights: “Subject to” Deal! - 4% Blended Rate

• Value $480,000 – $500,000
• Sale Price $480,000
• Cash-on-Cash Return: 15%
• Blended Interest Rate 4%
• Cash to Seller: $80,000
• Multifamily Duplex 6 Bed, 2 Bath
• Address: 34-36 Railroad Street Northbridge MA 01534

Financial Details:

Income - $60,000 per year

• Total Gross Rents: 5,000 per month
  • $1900 (36 Railroad); $3,100 (34 Railroad, rents by the room)
    • 2 Rooms at $600; 1 Room at $1,200; 1 Room at $700

Expenses - $48,000 per year

• Monthly PITI (Principal, Interest, Taxes, Insurance): $2,601.15
  • Monthly payments: Mortgage $1645.38, Heloc 955.77
• Average Monthly utility/Misc. expenses: $1,398.85 (Over Estimation)
• Mortgage Payments: $31,213.80 (yearly)
• Total Mortgage(s) Principal: $400,000
  • Original Mortgage $269,000; Heloc 131,000
• Interest Rate: 3% ($269k); Heloc (131k): 6%; (Blended 4%)

Cashflow - $12,000 per year (Cash-on-Cash Return: 15%)

Property Details:

• Beds: 6
• Baths: 2
• Living Area: 2,136 sq ft
• Lot Size: 5,227 sq ft

This spacious two-family property is perfect for investment or owner occupancy. Conveniently located near Route 146, I-290, and just 10 minutes from town, it offers excellent accessibility. Each of the two units is approximately 1,000 sq ft, featuring 3 bedrooms with separate utilities. Additionally, each unit has its own washer and dryer hookups. The property includes a 4-car parking lot and is fully rented. The roof is about 10 years old. Note that the photos are from before the current tenants moved in. The property is in good condition, and a "light lipstick renovation" is optional if you want to update it minimally and cost-effectively.

Don't miss out on this fantastic investment opportunity!

Call or text Nicolas Stanley at (508) 570-4462.