MEADOW VIEW FARM/OAK BLUFFS - Owned by the same family for over 30 years, this sun-drenched, contemporary reverse-style home is located in Meadow View Farms. Well-maintained over those years, this 3 bedroom, 2 full and 2 half baths multi-level home has so much to offer and boundless potential. The second-level features a bright, open floor plan with cathedral ceilings and 3 sliding doors that take you out to the upper deck. Open the sliders to the expansive deck and you almost double the living space on the upper level. There is also a powder room on the upper level. The first floor features the primary suite with bath, walk-in closet, air conditioning, and sliders that open to the first-floor deck. There are 2 more spacious bedrooms and a shared bath. Venture down to the above-grade lower-level and enjoy the family room, reading nook, and bonus room. There is also a large storage/utility room with a second power room. This space opens to the 1-car garage. Like every true island home, there is an outdoor shower. Plenty of additional storage under the deck. Air conditioning on the upper level and the first floor primary bedroom. Solar panels were added in the fall of 2023. With 3 floors of living space and an expansive portion of the land behind it, this property offers so much potential for the next owners. Meadow View Farms Association is a neighborhood less than 2 miles from downtown Oak Bluffs featuring paved roads, tennis, open meadows, and even mail delivery. The septic has passed the Title V inspection for 3 bedrooms. An interested buyer should speak to an engineer about expanding the size of the septic to accommodate more bedrooms or the possibility of adding a pool. The home has been well-maintained throughout its single-family ownership and it is being sold ''as is''. Sellers are looking to close before the end of 2024.
Type | Description | Dimensions | Level |
---|---|---|---|
Bedroom 2 | 12.0 x 14.0 | First | |
Bedroom 3 | 12.0 x 14.0 | First | |
Kitchen | 12.0 x 14.0 | Second | |
Living Room | Fireplace(s): Wood Burning | 12.0 x 14.0 | Second |
Master Bedroom | Fireplace(s): Wood Burning | 12.0 x 14.0 | First |
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,263,200 | $1,263,200 | $1,263,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.875% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.820% | 6.723% | 6.284% |
Monthly Tax Payment | $530 | $530 | $530 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,472 | $8,088 | $10,745 |
Total Monthly Payment | $8,127 | $8,743 | $11,400 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.