4 Beds
4 Baths
2,553 SqFt
4 Beds
4 Baths
2,553 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,553 sqft
Price per Sqft $248
Subdivision Reserve At Palmers Crossing
MLS Listing ID 3529056
Bedrooms 4
Full Baths 3
Half Baths 1
HOA Fees $70/mo
HOA Y/N Yes
Year Built 2021
Annual Tax Amount $3,082
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Single Family Residence
Property Description
What does that mean in plain English? Instead of financing the entire purchase price at today's mortgage rates, an approved buyer can take over approximately $335,000 of the seller's existing mortgage at just 3% interest and finance only the remaining balance separately.
For example, on a $610,000 purchase with 10% down, approximately $335,000 could remain financed at 3%, leaving approximately $214,000 to finance separately. If that additional financing were obtained at 6.5%–7%, the balance-weighted rate across the two loans would be approximately 4.4%–4.6%.
And unlike a temporary builder rate incentive that may expire after the first year or two, the 3% rate on the assumed portion remains in place for the remaining term of that existing loan.
This could represent a significant financing advantage for the right buyer. Buyer must qualify for the mortgage assumption, and availability, terms and any secondary financing should be verified with the applicable lenders.
There are backyards. And then there are places where you begin inventing reasons not to go inside. Welcome to 132 Newbury Drive: an upgraded 4-bedroom, 3.5-bath, 2,553-sq-ft home done the way you'd do it, on someone else's dime. Wood-look tile leads to a gourmet kitchen with two-tone cabinets, double ovens and a walk-in pantry. The main-level primary has Craftsman crown molding and a spa bath with soaking tub. Upstairs, a huge loft plus three bedrooms, one with built-ins and a Murphy bed. But the backyard may ruin you for ordinary backyards: covered porch, 350-sq-ft stamped patio with fire pit, landscaped grounds and greenway views. Private, polished, built for long dinners and late evenings. You can find newer homes. Finding one this finished and this private is another matter entirely.
Location
State TN
County Sumner County
Rooms
Main Level Bedrooms 1
Interior
Interior Features Ceiling Fan(s), Walk-In Closet(s)
Heating Central, Natural Gas
Cooling Central Air, Electric
Flooring Carpet, Laminate, Tile
Fireplace N
Appliance Built-In Electric Oven, Double Oven, Cooktop, Gas Range, Dishwasher, Refrigerator
Exterior
Garage Spaces 2.0
Utilities Available Electricity Available, Natural Gas Available, Water Available
View Y/N false
Roof Type Shingle
Private Pool false
Building
Lot Description Rolling Slope
Story 2
Sewer Public Sewer
Water Public
Structure Type Frame,Hardboard Siding,Brick
New Construction false
Schools
Elementary Schools Harold B. Williams Elementary School
Middle Schools White House Middle School
High Schools White House High School
Others
HOA Fee Include Maintenance Grounds
Senior Community false
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
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