The property is ideally located on the south side of the Fort Pierce Inlet and jetty, while the north side features a state park. This versatile property can be configured as a duplex or triplex and is fully rented with fantastic tenants. A mere three-minute walk takes you to the public beach, and you're just five minutes from the jetty inlet and local restaurants.
Looking ahead, there's the potential for a Brightline high-speed train station nearby by 2028, which would mean just a 90-minute ride to Miami or Orlando, avoiding traffic. There is local airport in Ft. Pierce, as well international airports in Vero Beach and West Palm next door. This property is perfect candidate for a 1031 exchange, a conversion to a triplex or single family home, or as a short-term rental for platforms like Airbnb or VRBO. Check out this walkthrough to the beach: https: //youtu. be/LEmaMcz6IzI P. S. A slower, raw walkthrough video is also available upon request: https: //youtu. be/oWGppzpvfEc
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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 | $583,992 | $583,992 | $583,992 |
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 | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $1,156 | $1,156 | $1,156 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,885 | $3,881 | $4,925 |
Total Monthly Payment | $5,133 | $5,129 | $6,173 |
* 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.