Rare opportunity in the heart of central/east Orlando with NO HOA RESTRICTIONS. The offering includes an existing 1, 176 square foot CONCRETE BLOCK home with a newer roof (Collis Roofing - 2017) and HVAC (Rheem - 2015). Situated on a total of 2. 69 acres, the single family home has been well maintained, but is ready for some cosmetic updates.
The entire property is located in FLOOD ZONE-X according to the most recent FEMA MAP (2009). From the 2023 PROPERTY TAX CARD, it shows that 1. 71 acres has a conservation designation issued by unincorporated Orange County (“PVT Submerged”). This appears to suggest that nearly one acre of the property has the potential for clearing and further improvements. Aerial map photos from Orange County’s website appear to show the land with the potential for futhter development constitutes the northern/eastern portions of the site (behind the existing house). County officials can provide more information as to the site’s potential – PLEASE CONFIRM ALL DETAILS WITH THE APPROPRIATE COUNTY DEPARTMENTS.
There are two brand new single family homes near completion immediately adjacent to the north of the property. New construction provides evidence of demand for housing in the surrounding marketplace.
The property is located in close proximity to the following: Colonial Drive (1 mile), Hwy-408 (2 miles), Hwy-417 (4 miles), I-4/Downtown Orlando (<11 miles), Orlando Convention Center (13 miles) Orlando Int’l Airport (16 miles).
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Our Executive Mortgage Banker:
Our Insurance Division:
$370,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $296,000 | $296,000 | $296,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $71 | $71 | $71 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,969 | $1,967 | $2,538 |
Total Monthly Payment | $2,115 | $2,113 | $2,684 |
* 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.