479 Leverett Ave, Staten Island, New York

By
Real Estate Agent with Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com -

479 Leverett Ave, Staten Island, New York

Located in the Great Kills area of Staten Island's South Shore, this 3 bedroom, 2 bath unit has off street parking for two cars, is almost maintenance free, has beautiful hardwood flooring, ceramic tile, granite counter-tops and back-splash, high hat lighting, crown molding, stainless steel appliances, central air, cable ready, and more.  For most folks with 20% down, it can be CHEAPER than renting.  That's right, CHEAPER than paying rent.  Let's take a look at the numbers.

List price is only $409,000

20% down payment is $81,800

Balance to mortgage  $327,200

Mortgage at today's rates, 30 year conventional 4.125%

Monthly payments, principle and interest  $1,585.77

Taxes about $4,000 a year.                      $333.33

Insurance about $800 a year                    $066.66

Total monthly payments                         $1985.76

Now here comes the good part.  If you are in the 25-30% tax range you will receive a nice refund at tax time.  Assuming you are in this tax range or higher, (always check with your accountant) you will have around a $5,000 refund.  If you take that figure and divide it by 12, you will have an extra $416 each month to help with the mortgage payment.  If your interest payments are higher, you will have more of a deduction. Again please check with your accountant to be sure.  This is only an example illustration of how owning a home is cheaper then renting.  

Don't forget that after the mortgage is paid off, you now have EQUITY.  30 years comes around quickly, just ask grandpa or grandma.  So then you lose the interest deduction, but your monthly costs now are only taxes, (don't we love them?) insurance and water and sewer.

So what are you waiting for?  Call your tax accountant and mortgage person next.  Then call me to see this beautiful home.  My phone number is 917-696-0275.  See the High Definition Virtual Tour here;

479 Leverett Ave, Staten Island, N.Y. 10308

Comments (4)

Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Kenneth - Great looking home in Staten Island, NY. Best of luck on a quick sale. 

Nov 04, 2014 12:15 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Ken, a great run down on why it would be wise for someone to buy that great looking home in the Great Kills area of Staten Island.

Nov 04, 2014 04:05 AM
Kenneth Cole
Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY
NYS Licensed Real Estate Salesperson

Gentlemen Joe and Ed.  Thanks so much for your kind words.  If I had just rented 48 years ago when I got married, I would have zero equity today.  I wasn't thinking of equity, I just wanted my own place.  As it turned out, I did OK.

Nov 04, 2014 06:27 AM
Kenneth Cole
Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY
NYS Licensed Real Estate Salesperson

I now have a total of 5 offers.  The first 3 died, however today we received 2 very good offers.  One will be accepted.  Praise the Lord!

Nov 09, 2014 08:08 AM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?