Income Property - Nassau / Paradise Island - Income Property

Property Information

Income Property - Nassau / Paradise Island

Type: Income Property
Price: $ 329,000 Loan Calculator
Island: Nassau / Paradise Island, Bahamas
Bedrooms: 5
Bathrooms: 4.0
Living Area: 2250 sqft
Lot Area: 7600 sqft
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Loan Amortization Calculator

You can use this loan calculator to work out what your monthly repayments might be for various loan amounts, repayment periods and annual interest rates. This can help you decide whether you can afford the repayments.

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Description

This well built Bahamian home is centrally located in the Shirlea subdivision just off Shirley Street. The zoning for this property is commercial although the whole area is mainly residential making this property a very good investment.

This property consist of 3 separate units. The main house has 2 bedrooms and 2 bathrooms with a spacious open kitchen and family room. There is a living and dining area as well totaling approximately 1,300 sq. ft. in floor space. A covered back yard area can ideally be used as a work shop. Also included is a large rain water tank.

There is a 1 bedroom, 1 bathroom unit next door to the main house with a full kitchen which can be rented for additional income.

Above the 1 bedroom apartment and garage there is a 2 bedroom, 1 bathroom unit as well a balcony overlooking the front and back yard.

This cozy upstairs apartment has an open kitchen and living/dining area, which can generate additional income as well.

Amenities

Children Allowed
Enclosed Yard
Pets Welcome

Pictures / Photos

Real Estate Company : HG Christie Real Estate

Established in 1922, H.G. Christie Ltd. is the oldest and most extensive real estate service in The Bahamas and because of our consistently high level of service, we are also the exclusive affiliate in The Bahamas of Christie's Great Estates, the real estate arm of the world-renowned Christie's Auction House.

We have an incomparable collection of listings for your consideration, and we would be pleased to help you discover your own way to enjoy Elegant Island Living.

More info All properties of this realtor

Real Estate Agent : John Constantakis

Name:: John Constantakis
Phone:: 242-322-1041 x246 (office) 242-424-8669 (cell)
Fax:: 242-326-5642

John Constantakis youngest of five children was born in Nassau Bahamas in 1959. He attended St Andrew's School in the Bahamas until his graduation in 1976. His family owned a small hotel where he spent many summers working and learning about the hospitality business. He attended the College of The Bahamas as well as Acadia University in Nova Scotia, Canada. On his return to Nassau he opened his own pizzeria and sports pub located in the hotel's property. The venture proved successful and the business became popular and went on for ten years. John married on June 1990 to Charlotte Albury who was also born in the Bahamas. They have two sons Alexander who is attending college in Florida, and Matthew, who will soon be following his brother. After the family hotel business was sold, John continued in the hospitality sector for two years working for one of the top tour companies in Nassau, Majestic Tours. John and Charlotte decided to open their own retail store which grew from one store to three, two in Nassau and one on Paradise Island. They eventually sold all the stores and John always makes mention that selling his stores spring boarded him into the real estate business. He became a licensed real estate agent and joined the HG Christie team in 2005. His enjoyment of meeting people and working with them to find their ideal property is credited to past work experiences. John enjoys travelling with his family and has visited many interesting places. He loves visiting the many beautiful islands of the Bahamas and enjoys fishing. He has been a member of the band, Modern Vintage for 25 years and has played at a number of functions including weddings, Balls and other private parties. He is also an active member of his church and parish community.