Madison CT - Beach house in coveted Madison CT! Seasonal and perfect for 1-4 persons. This is a RARELY AVAILABLE 2-bedroom 570 sf home!! Pristine and turnkey! This rare offering is adjacent to Hammonasset Beach State Park and the sandy shores and glimmering salt waters of Long Island Sound. Path to beach is 1 mile to water's edge! Walk to restaurants, bike trail, "Shoreline Greenway". Village of Madison, upscale shopping, and train to NY City are all just 2 miles away. There is no better stretch of sandy beach in CT than here in Madison. The natural beauty found here is special, nature abounds. Cottage was designed featuring newer architectural shingle roof, privacy fence, vaulted ceilings, wood beams, spectacular windows, breezy disposition, 2 bedrooms, outdoor hot and cold shower, fantastic easy care TREX covered deck. There are 2 new ceilings fans and a newer 1000-gallon septic tank!! Parking for 2 vehicles. This cottage may just be the crem de la crem! Annual land lease is $4, 300. , taxes $2, 714. , trash $100. (June - September). Village is seasonal April 1 - October 31 (7-month season). NOTE: Renting, motorcycles, boats, trailers, strictly prohibited. Rare, astute offering. Fantastic property for both solitude and entertaining. Electric heat in every room, laundry hook up, public water, newer private septic system. See attachments for Rules & Regulations, and an optional 50-year Extended Period Seasonal Ground Lease offered by Young's Village LLC.
Type | Description | Dimensions | Level |
---|---|---|---|
Bedroom 1 | Vaulted Ceiling,Laundry Hookup,Softwood Floor | 10.0 x 8.0 | Main |
Eat-In Kitchen | Bay/Bow Window,Skylight,Vaulted Ceiling,Beams,Ceiling Fan,Hardwood Floor | 12.0 x 9.0 | Main |
Living Room | Bay/Bow Window,Skylight,Vaulted Ceiling,Balcony/Deck,Beams,Sliders | 11.0 x 16.0 | Main |
Primary Bedroom | 2 Story Window(s),Vaulted Ceiling,Engineered Wood Floor | 11.0 x 9.0 | Main |
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NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $196,000 | $196,000 | $196,000 |
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 | 7.551% | 7.159% | 6.276% |
Monthly Tax Payment | $226 | $226 | $226 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,304 | $1,303 | $1,653 |
Total Monthly Payment | $1,605 | $1,604 | $1,954 |
* 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.