Owner Financing Available! Step into the charm of historic Davis Shores, where opportunity awaits on this sprawling nearly 3/4 acre parcel, 2. 5 lots. Nestled within this enormous lot lies a 1958 concrete block home boasting timeless character with 2 bedrooms, 1 bath & hardwood floors. On the second lot, 72 Coquina Ave is a 2-car garage with a 2 bed/1 bath apartment above it, both of these are currently yielding a rental income of $3175 a month. Beyond its income potential, the true gem lies in the land itself, offering ample space for visionary development. Picture the possibility of crafting not just one, but potentially multiple new residences, capitalizing on the prime location and ample space for extra parking and expansive homes. Davis Shores has favorable short-term rental regulations allowing for a minimum 7 night stay, ideal for maximizing short term rental income. Stay informed with detailed capacity regulations outlined in documents provided by the City of St. Augustine. Raised AC units, house is 2017, apartment 2018 & hot water heater 2018. Roof is over 20 years old on both structures. Possibility of owner financing with a 30% or higher down payment, subject to credit check and competitive rates reflecting current market conditions. Owner financing available with 20-30% down & other conditions. Located in close proximity to historic downtown St. Augustine, Anastasia State Park, the iconic lighthouse, and more, this property has the allure of coastal living paired with lucrative investment potential. Embrace the opportunity to shape the future of this beautiful neighborhood. Click on Virtual tour for video walk through of this properties exterior.
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William Raveis Real Estate
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $504,000 | $504,000 | $504,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $794 | $794 | $794 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,353 | $3,350 | $4,250 |
Total Monthly Payment | $4,239 | $4,236 | $5,136 |
* 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.