Rare opportunity to build new or rehab a single family home in a desirable Ipswich neighborhood. The three bedroom, two bathroom house is in need of complete restoration, will not qualify for conventional financing, may likely be considered a teardown and is being sold as-is. Title V failed, cash/construction loans only. The .27 acre, 11,700 sq ft lot features mature plantings and abuts the IRWA Riverbend property creating a serene and private feeling with ample space for outdoor activities, gardening, customization and entertaining. There is conservation land around the corner and it’s ~.6 miles to a local brewery, the YMCA and other attractions and conveniences. 1.5mi to Downtown Ipswich and the MBTA T Station. Centrally located to Crane Beach, downtown Essex and Hamilton and so much more of what makes the North Shore and Cape Ann area special. Investors and end-users: Come see the potential for yourself. Please do not walk property without an appointment.
14 Masconomet Rd, Ipswich, MA, 01938
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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