Attention Builders / Investors. . . Rare New Build / Ownership opportunity in the heart of sought-after Black Rock. NX1 - Neighborhood Zone. Preliminary Highest & Best Use considerations indicate a minimum of 4 to 6 units. Owner financing open to discussion. A strong "Land Bank" option. Lease back to owner while you pursue entitlements. Spruce up the existing SF dwelling and rent longer term. A new right sized multifamily dwelling will remain a distinct rental / tenant draw in spite of the recent surge in large apartment building / new development and supply. Black Rock will persist as a Path of Growth investment centric neighborhood. Walk to the Fairfield Metro Station. Enjoy a vibrant downtown Black Rock and its array of boutique shops, restaurants, and entertainment. Stroll along the Long Island Sound shoreline in coveted St Mary's by the Sea or visit other nearby beach and park locations. Do not walk the site without an appointment. An interior inspection of the existing home will be made available as part of a contingency of an offer to purchase. No representation being made as to the condition of existing structures.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $343,200 | $343,200 | $343,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $688 | $688 | $688 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,283 | $2,281 | $2,943 |
Total Monthly Payment | $3,046 | $3,044 | $3,706 |
* 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.