$700,000
9
Beds
3
Baths
3,198
Living Area
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Property Description
You can send your kids to college completely for free just by living in this freshly updated, fully vacant three-decker home at 5 Freeland Terrace. This is a life-changing opportunity for a hardworking family to stop paying rent, build real wealth, and secure a bright future. By living in one spacious unit and renting out the other two floors, your tenants will help pay your mortgage while you gain a path to higher education that usually feels out of reach. This rare property sits in a special neighborhood zone where anyone who lives here for five consecutive years qualifies to attend Clark University tuition-free. This massive benefit applies to you, your kids, extended family, and even your tenants, making it incredibly easy to find renters. To qualify for this amazing program, a person just needs to live in this neighborhood zone for at least five full, continuous years before starting college, apply and meet Clark University's standard academic rules to get in, and remember that while the scholarship pays for 100% of the tuition, families still cover housing, food, and books. Units 1 & 3 are certified deleaded and because the entire building is recently renovated and completely empty, you can move right in, choose your own tenants, or maximize your cash flow by exploring room-by-room student rentals.
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Highlights
- Heating: Natural Gas, Electric
- Property Class: Residential Income
- Stories: 3
- Year Built: 1890
- Levels: 3
- Property Type: 3 Family
- Total Rooms: 18
- Status: Active
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Additional Details
- Appliances: Range, Refrigerator
- Construction: Frame
- Interior Features: Living Room, Kitchen, Family Room
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: Rg-5
- Basement: Full, Unfinished
- Foundation: Stone
- Roof: Shingle
- Total Number of Units: 3
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Park, Highway Access, University
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $491,900
- Tax Year: 2025
- Rental Fee Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water)
- Taxes: $6,488
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