BEACH PARK new build opportunity under $650K! 73x100 lot, value is in the land. New construction sales proven in the neighborhood to exceed $2M. Property was unfortunately flooded by Hurricane Helene, the worst Tampa Bay flooding event in over 100 years. Minimal trees & overhang around the perimeter; less obstruction. 3D rendering shows example of new construction built with 57' width, making that type of floor plan a true possibility vs. side setbacks. Next door lot, 5303 Cleveland St, currently asking $640, 000 (combine the two for 143' total frontage). Beach Park is repeatedly found in surveys & lists as a Top 10 Tampa neighborhood - all coming of no surprise with it’s A-rated schools, tree-lined streets, and superior convenience to local restaurants, shops, and highways connecting to St. Pete & Clearwater area beaches. Thinking remodel…consider a nearby 1988 home that sold for $1. 495m on a smaller 6, 600sf lot less than three months ago; 2024 roof. This is a neighborhood that will revitalize like never before, do not miss out.
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Our Executive Mortgage Banker:
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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 | $500,000 | $500,000 | $500,000 |
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 | $195 | $195 | $195 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,327 | $3,323 | $4,287 |
Total Monthly Payment | $3,614 | $3,610 | $4,574 |
* 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.