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Nestled at the end of a serene cul-de-sac, 1 Ferro Ct in East Lyme, CT, offers a unique opportunity for savvy buyers. This raised ranch spans 1, 234 sq. ft. on a 1. 78-acre lot, providing ample space and privacy. The property features 3 bedrooms and 2 bathrooms, making it perfect for anyone seeking a peaceful neighborhood. While the home needs some TLC, it boasts a practical layout with a cozy living room, functional kitchen, and dining area that opens to the backyard. This makes it an ideal canvas for customization and renovation, allowing buyers to transform it into their dream home or an attractive investment property. The competitive pricing reflects the home's current condition, offering a rare chance to purchase in a desirable location below market value. Financing options are limited to cash buyers, conventional, or renovation financing only. East Lyme is renowned for its coastal charm and high quality of life, with access to beautiful beaches, parks, and recreational facilities. The quaint downtown area is filled with local shops, restaurants, and cultural attractions. The property's proximity to major highways ensures convenient commutes to nearby cities and towns Additional features include a detached garage with extra driveway space for convenient parking and storage. The spacious lot offers potential for outdoor activities and gardening, enhancing the property's appeal. This property is being sold As-Is. Don't miss this chance to own a piece of East Lyme The competitive pricing reflects the home's current condition, offering a rare chance to purchase in a desirable location well below market value. Financing options are limited to cash buyers, conventional or renovation financing only. The property is being sold AS IS, with no repairs made by the seller, and the appliances are currently non-functional.
Type | Level |
---|---|
Bedroom 1 | Main |
Bedroom 2 | Main |
Dining Room | Main |
Living Room | Main |
Primary Bedroom | Main |
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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 |
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Loan Amount | $239,200 | $239,200 | $239,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 7.125% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.880% | 7.295% | 6.644% |
Monthly Tax Payment | $460 | $460 | $460 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,612 | $1,612 | $2,067 |
Total Monthly Payment | $2,147 | $2,147 | $2,602 |
* 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.