This Lot Is The Perfect Location For Your Next Development With NSM1 Zoning With Ability To Have 3 Dwelling Units Due To Acreage In An Enterprise Zone Of St. Petersburg. Lot Dimensions 50ft X 158ft. Alley Access In The Back. There Is A 2bd 1ba 800sf Home On The Back Of The Lot That Is Currently Rented Until 8/31/24 For $1, 400/mn With Potential To Extend Through Construction. Tenants Have Agreed To Stay Through Construction At This Rental Rate. Produce Cash Flow While You Get Plans Approved And Duplex Built. Current Rental Rates For A New Build 2bd 1. 5ba Is $2, 150/mn. Back Unit Can Be Rented For $1, 850/mn After Construction Is Complete. Get Over $6, 100/mn In Rental Revenue Post Construction. 15 Min Driving To St Pete Beach. 10 Min To Downtown St Pete. Flood Zone X. Buyer To Verify All Information Regarding Planning And Zoning With The City Of Saint Petersburg. Survey Attached. Digital Floor Plan Attached For Review. Letter From City Confirming 3 Dwellings Attached. Mechanical, Electrical, And Plumbing Designs Will Be Given To The Buyer Under Contract. Become A Part Of St. Petersburg's Vibrant Transformation With Convenient Access To Both Gulfport, St. Pete Beach, And The Vibrant Downtown St. Pete. Do Not Approach House Without Confirmed Showing.
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $183,200 | $183,200 | $183,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | $45 | $45 | $45 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,234 | $1,218 | $1,545 |
Total Monthly Payment | $1,354 | $1,338 | $1,665 |
* 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.