1556-1558 columbia road, Boston, MA 02127

$2,075,000

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2 Units

$1,037,500 Cost/Unit

5 BRs

3,400 Sq.Ft.

1.20% Cap Rate

-13.40% Cash-on-Cash Return

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This property is located on ColumbiaRoad between I and K Streets. Clear view of ocean from both units. From front windows The Kennedy Library is in view. Public beach across the street with jogging ,biking or walking to Castle island is a great walk and grilled hot dogs waiting at Sully's. First floor unit is 5 + rooms 1 bath and a large private deck off the kitchen to grill or just hang out ...and enjoy the cool oceans breeze, also has private te storage and laundry.Owners uniting is a bi-level top level 3 room master bedroom suite with master bath with jacuzzi and separate shower/steam. with two decks on that level. main level has another private deck off kitchen. beautiful garden in front and a large yard with an in ground pool. garages are entered from marine road with a entrance to back area to get into house.One garage is rented for 325.00 per month as a tenant at will.. Fireplace is gas.basement is partially finished.Will be delivered vacant. Seller willing to negotiate.

PROPERTY HIGHLIGHTS

Status

Active

Days on Market

169

List Price

$2,075,000

Price per Unit

$1,037,500

Price per Bedroom

$415,000

Gross Living Area

3,400 Sq.Ft.

Price per Sq.ft.

$610

Assessed Value

$1,489,300

Taxes

$15,000

PROPERTY FEATURES

Year Built

1945

Number of Units

Total Bedroms

Bathrooms

4 full / 0 half

Parking/Garage Spaces

3 / 3

Lot Size

6,100 Sq.Ft.

Acreage

0.14 acres

Basement

ESTIMATED MORTGAGE PAYMENT

Offer Price

$2,075,000

Down Payment %

25%

Down Payment Amount

$518,750

Loan Amount

$1,556,250

Interest Rate Estimate

4.50%

Monthly Payment

$7,885

Contact Our Mortgage Partner:

Kevin Potter
Cross Country Mortgage
978-548-4464

PROJECTED ANNUAL INCOME

Projected Rents

$45,744

Less 5.0% Vacancy

$2,287

Net Rental Income

$43,457

Other Income

Total Operating Income

$43,457

PROJECTED ANNUAL EXPENSE

Real Estate Taxes

$15,000

Insurance

$1,500

Water/Sewer

$500

Heat

Electric

Trash Removal

Management Fee

Maintenance/Repairs

$1,304

Total Operating Expenses

$18,304

PROJECTED RETURN ON INVESTMENT

Total Operating Income

$43,457

Total Operating Expenses

$18,304

Net Operating Income

$25,153

Est. Annual Mortgage Payments

$-94,620

Projected Cash Flow

$-69,467

Cash on Cash Return

-13.40%

Cap Rate

1.20%

Condo Conversion Equity

$-24,800

Local Multi-Family Experts for This Market…

Real Estate Agent

Steve Martin
Wellsco Realty
617-212-3251

Residential Lender

Kevin Potter
Cross Country Mortgage
978-548-4464

Commercial Lender

Steven Provanzano
East Boston Savings Bank
978-977-8543

Real Estate Attorney

Meredith Fine
Cape Ann Business Law, PC
978-314-9277

Insurance Company

Greg Porziano
Paul Murphy Insurance
617-288-2873

Property Management

Hemlane
All-in-one Property Mgmt Tool

This property is listed by P. Daniel Cardinale of P Daniel Realty. The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

Disclaimer: We do not guarantee the numbers provided are 100% accurate. These are rough estimates to help decide whether or not you’d like to learn more about the property. We recommend doing your own due diligence or having a one of our agents do the leg work for you. There are many factors that can affect any of the projected numbers listed above. Such factors beyond our control include but are not limited to: financing terms, tax rates, overall condition of property, and investor ability to operate and manage property and tenants effectively.