This prime Southold property offers a fantastic opportunity for subdivision and development! Spanning over 4 acres, surrounded by development rights sold land and only half a mile to McCabes Beach, this idyllic North Fork property is ready to change hands, and this rare offering has incredible potential. Some ideas include subdividing the property and building another home on the back piece or updating and expanding the current residence to create a spectacular estate! The property includes a solid, well-built home from 1967 with a modernized kitchen and updated bathrooms (2020), oak wood floors throughout the first floor (under the carpets), Central Air Conditioning (on the first floor, but can be easily added to the second floor), generator, and a cozy living room with wood burning fireplace. The dining area has sliders to a large wood deck overlooking forever farm views. Other amenities include a two-car garage and a full, dry basement. The home is currently on well water with a filtration system, but public water in the street is available for hookup if desired. The roof was replaced about 10 years ago with 30-year shingles & the driveway was repaved within the last year. This property is not only well-maintained but also ready for your vision. Opportunities like this are rare, so don't miss out!
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,200,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,760,000 | $1,760,000 | $1,760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | $912 | $912 | $912 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,993 | $10,980 | $14,733 |
Total Monthly Payment | $11,030 | $12,017 | $15,770 |
* 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.