OPPORTUNITY FOR INSTANT EQUITY. Property independently Appraised at $570, 700 yet being sold at $1200 less than its land value. Great potential to renovate or build your dream beach home. Home affected from Hurricane Helene on 9/26/2024, the owner immediately cleaned out the home on 9/27 and 9/28/2024. Drywall professionally remediated by a contractor on 10/1/1024. Nestled in Bay Point Estates, this home's unique neighborhood offers a park with a shuffleboard court, an extensive fishing pier, and an EXCLUSIVE BOAT LAUNCH for residents only, providing easy access to the intercoastal from your jet skis, kayak, small watercraft or paddle board. Annual HOA fees are only $185, and membership is voluntary. The resident's only park is located across from the public dog park. A taste of waterfront living at a fraction of the cost! This block home with terrazzo floors throughout resides on a partial cul de de sac - the park is just steps away. The home's rear screened-in porch coupled with the expansive, fenced-in backyard makes outdoor entertaining a pleasure. The expansive lot, 70x90 is tucked within a cul de sac with a beautiful island filled with palm trees. The possibilities are endless. As the neighborhood restores and renovates, your investment flourishes. Living on Madeira Beach is a dream lifestyle. Stroll the white sandy beaches, visit John's Pass Village & Boardwalk featuring an array of restaurants, shops and water sports or simply relax in your piece of paradise. Now is the time to Buy the Beach House! Property is being sold "As-Is".
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$398,000
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 | $318,400 | $318,400 | $318,400 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.191% | 7.159% | 6.392% |
Monthly Tax Payment | $349 | $349 | $349 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,092 | $2,116 | $2,708 |
Total Monthly Payment | $2,516 | $2,540 | $3,132 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.