Mulit family, 1900, rehabbed from studs out. Everything is new!! Windows, roof, walls, floors, bathroom, kitchen, bedroom, oversized deck. Only Steps to Historic Downtown, Westerly Train Station, and commuter park & ride. Remodeled throughout, W&D hookup. Mins. to Casinos & beach! Sold as Multi Family, or purchase individual unit, SEE: 843602, or great owner occupied, live one side & rent other, 7% Cap Rate! Sold as condo, 1 unit is $129K, or buy both and live in one $249000! Great opportunity for first time home buyer or downsizing. Great passive income!

Call today, owner financing available!!

Sandy
The Sky is the Limit!

Sandra L. Bliven, R.I. & C.T. & e-PRO Certified
When you work with me, I work for you!
http://www.sandybliven.com/
R.I. License #S 31703 and C. T. License #RES 0782228
FED ID # 26-0654330
Licensed Mobile Notary 24/7, Refi's., Mortgages, Personal
Cell: 401-286-2571 or eFax:401-679-0422
                         
Dreams do come true!! Let me show you how the Sky is the Limit!
I am available to my clients 7 days a week. My clients have access to me, as their agent around the clock. Once you work with me, you will never use anyone else. My services do not end after the closing, I offer  the real estate help you need before, during and after you buy or sell a home. My Networking Service® Program was developed to put you in touch with local service providers to help you obtain the variety of services associated with buying, selling or owning a home. From home repair and home maintenance to complete home renovation, let me help you with all of your real estate needs.  You have just met your personal concierge, let's get busy!   Visit Seacoast Mortgage - my personal lender of choice, they get the job done!

Because buyer's have become so internet and computer savy, one needs an edge to help assist buyer's to make good choices.  I have sold quite a few Multi Family's (MF) in the last few months.  I have been providing my clients with Cap Rates, as a tool to see if they are making a good investment or not.

Here is one for 5 Pond Street, Westerly, RI, going into a short sale, but nevertheless, a great investment:  Check out the CAP Rate: 8% - this property is valued at $428K, and being sold for $350K - short sale! 

Compare the two, any thoughts?  Thanks.......

CAPITALIZATION RATE ANALYSIS 5 POND ST, Westerly, RI

SALE PRICE 350000

GROSS INCOME 44640

COIN-OP LAUNDRY 1200

LESS: 5% VACANCY 2232

NET INCOME 43608 (A)

EXPENSES:

TAXES 4077

INSURANCE 1200

WATER/SEWER 1400

TRASH 600

LANDSCAPING 0

CLEANING 0

MAINTENANCE (5% OF INCOME) 2232

MANAGEMENT FEE 0

ELECTRIC 252

GAS/OIL 0

TOTAL EXPENSES 9761 (B)

NET OPERATING INCOME 33847 (A-B)

CAPITALIZATION RATE 8.00% ©

VALUE OF PROPERTY 423087.5 ((A-B)/C)

I always tell my clients, If you want I can have someone call you, at no obligation, just to run some numbers and scenarios'  - my lender of choice is http://www.annsabbagh.com/  - she goes the extra mile!!

Sample Loan Payments Schedule for 5 Pond Street.

(EST) must speak to a qualified loan officer for "actual numbers) $1705.84 plus taxes etc + 300 + insurance $150 = APPROX. LOAN PAYMENT: $2200/mo - rent schedule of $3800 = $1600 passive income, not a bad month's work!!

Shown below are the first 24 payments on a $280,000 loan at 6.15% amortized for 360 months.
2008   Pay         P & I                                Cumulative      Mortgage
         #       Payment     Principal      Interest      Interest       Balance
--------------------------------------------------------------------------------
 Apr     1      1,705.84        270.84      1,435.00      1,435.00    279,729.16
 May    2      1,705.84        272.23      1,433.61      2,868.61    279,456.93
 Jun     3      1,705.84        273.62      1,432.22      4,300.83    279,183.31
 Jul      4      1,705.84        275.03      1,430.81      5,731.64    278,908.28
 Aug     5      1,705.84        276.44      1,429.40      7,161.04    278,631.84
 Sep     6      1,705.84        277.85      1,427.99      8,589.03    278,353.99
 Oct      7      1,705.84        279.28      1,426.56     10,015.59    278,074.71
 Nov     8       1,705.84        280.71      1,425.13     11,440.72    277,794.00
 Dec     9       1,705.84        282.15      1,423.69     12,864.41    277,511.85
            ----------------------------------------                           
2008 Total     15,352.56      2,488.15     12,864.41                         

Sandy your personal concierge!

 I believe in "One stop shopping" - 

  Sandy
The Sky is the Limit!

Sandra L. Bliven, R.I. & C.T. & e-PRO Certified
When you work with me, I work for you!
http://www.sandybliven.com/
R.I. License #S 31703 and C. T. License #RES 0782228
Licensed Mobile Notary 24/7, Refi's., Mortgages, Personal
Cell: 401-286-2571 or eFax:401-679-0422
                         
Dreams do come true!! Let me show you how the Sky is the Limit!
I am available to my clients 7 days a week. My clients have access to me, as their agent around the clock. Once you work with me, you will never use anyone else. My services do not end after the closing, I offer  the real estate help you need before, during and after you buy or sell a home. My Networking Service® Program was developed to put you in touch with local service providers to help you obtain the variety of services associated with buying, selling or owning a home. From home repair and home maintenance to complete home renovation, let me help you with all of your real estate needs.  You have just met your personal concierge, let's get busy!   Visit Seacoast Mortgage - my personal lender of choice, they get the job done!

Westerly's - NORTH END REVIVAL 2008

I was born and raised in Westerly, R.I., my Grandparents migrated from their homes in Acri, Italy and began their "American dream" on Pond/Pierce and Lilac Street.   "The North End" as dubbed by the Italian Immigrants was once a thriving Italian-Immigrant community.  The area weathered through the years, and until recently housed local bars, junkyards, triple deckers with peeling paint and crumbling porches, which characterized the abutting residential section.  It is precisely why young visionary entrepreneurs have targeted and have started revitalizing the once beautiful North End.   With the help of many young entrepreneurs, Chuck Royce, Owner of the Historical Ocean House in Watch Hill, Dr. Brogna, owner of The historical Savoy Hotel, Mark and Laurie Charpentier, MLC Properties, current property owner of 4 multi families at the North End, The Bruno family and others the North End revival has begun.

Westerly hopes to redevelop the North End and link it to the downtown and combine small-scale redevelopment and historic district designation with changes in the zoning code, significant public improvements, increased marketing of the neighborhood, and funding from the state and federal government.   Once this comprehensive revitalization plan is pursued, then the North End will cease to be, literally, on the wrong side of the tracks. 

There is unlimited potential at the North End and Downtown Westerly.  I truly believe that this property has the potential to be very valuable in the future. I think the seller was a visionary when she purchased this property.  Further down a  Pierce Street Limerios Café came into town, and across the street a very popular Plumbing & Heating Company, A & L Plumbing, purchased property to open a home plumbing display store.  The John Luzzi Family has started to revitalize the North End too owning property on Pond and Pierce.  I believe that Westerly is becoming a become a major destination stop, The Historical Train Station is going to be the gateway to Westerly.  Entrepreneur, Mr. Chuck Royce has already started moving in that direction.   I also spoke to his daughter Jennifer King recently, who told me that when she purchased Senior Flaco's Restaurant and she immediately made plans to convert the old run down apartments above the restaurant, into Condos.  She plans to sell them this year, but as of now, these remodeled apartments are being rented for $2000 a month, and will soon be offered as condos between $250,000 - $300,000 per unit.

It is a known fact; Historical Downtown Westerly is the draw to this community, especially with Chuck Royce spending MILLIONS of his own dollars to accomplish this.  The United Theatre, Savoy Hotel, Canal St, Pond and Pierce are all going to be upgraded as this visionary goes forward with his plans.  Not only does Mr. Royce have a vision but it is shared by the Brogna Family, Bruno Family, The Luzzi's, Charpentier's, Habitat for Humanity, and many others.

See Rhode Island Monthly, issue of "Pride Street"

 http://www.rimonthly.com/Rhode-Island-Monthly/August-2007/Pride-Street/

As Adrian Pelchat and Tom Daniewicz walk through Westerly's North End neighborhood, they wave to neighbors and call out pleasantries to friends. They point to houses and reel off names of families and businesses that have come and gone from the various buildings. They watch passing cars and carefully note the make, model and license plate numbers of the unfamiliar ones.

On Pierce Street, the heart of the once pre-dominantly Italian neighborhood where some buildings are packed so tightly their walls nearly touch, the two men skirt the yards of new and rehabilitated houses. They note architectural features: a deck here, sunshine yellow clapboards there, flawless blacktopped driveways, a rim of chocolate- brown gingerbread trim, a wide front porch ripe for a summer's day -- the details of an up-and-coming area.......................... read more in RI Monthly.

Looking to become part of a community, noted for the Art's, Pride, beaches, seacoast real estate?  Call me today for more information, your personal concierge, Sandy BLiven, 401-286-2571