Just outside of Essex Village, this exceptional piece of sub-dividable property includes an Antique Colonial and 12. 69 acres of rolling hills with water views out to the Connecticut River. The house sits on Saybrook Road across from South Cove and enjoys some rear and side-yard privacy. The home has had many recent updates including a new roof, a recently drilled well and exterior paint. The rear yard runs adjacent to and enjoys frontage on Essex Hills Drive up to the top of the Cul de Sac on Squire's Lane, creating the possibility of perhaps using almost the entire combined frontage of both roads to create and easily access up to 6 additional lots. This setting and location would support building luxury, water-view homes within a short distance to Essex Village, a commodity readily in demand! There is enough land to create a horse property with entrance through the existing property and keep the parcel whole to privately enjoy acreage no longer available this close to the Village. Possibilities abound! Property is occupied and all showings, including walking the Town Assessors Map Depicting the Lot bordering Essex Hills and Squire Lane to top is attached. Appointments required to walk acreage need confirmation as large, protective dog is in residence and needs to be removed. See Single Family Listing MLS 170612922 for additional house pictures.
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NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $920,000 | $920,000 | $920,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,296 | $5,815 | $7,763 |
Total Monthly Payment | $5,421 | $5,940 | $7,888 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.