OPPORTUNITY: " IT COMES AT YOU AT THE PACE OF A SNAIL, AND DISAPPEARS LIKE LIGHTNING!"
Historic home designed and built in 1925 for D. P. Davis, visionary developer of Davis Islands in Tampa, FL. Now available to the next person and/or entity with the vision to turn it into a true Davis Island Estate on over half an acre. Consultations with historic authorities indicate that the property can be enlarged/added on to, reaching a potential total sq footage past 5600 sq in the main house, and still almost 500 sq in the guest house. There is also ample space to add a pool/spa package and a detached 3 car garage on the site. A restoration of a property of this character does also have the possibility of tax incentives. It is extremely rare to find a home in one of Tampa's most historic neighborhoods that embodies so much history. The current dwellings features 4 bedrooms, 3 bathrooms in the main building with 4059 sq feet plus a separate 508 sq feet guest apartment above a 2 car garage. Recognized for its historical and architectural significance, the Mediterranean Revival style home was added to the U. S. National Register of Historic Places in 1989. Mediterranean Revival architecture was popular in Florida during the 1920s, characterized by features such as stucco exteriors, red tile roofs, arched doorways, and wrought iron details. Notably, the half-acre estate holds the potential to be restored to its original splendor and maintain its historic designation, presenting an exciting opportunity for prospective buyers to undertake an extensive renovation or potential redevelopment.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,995,000
William Raveis Real Estate
Phone: 888.699.8876
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,396,000 | $2,396,000 | $2,396,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
Monthly Tax Payment | $606 | $606 | $606 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $15,540 | $15,342 | $21,037 |
Total Monthly Payment | $16,271 | $16,073 | $21,768 |
* 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.