Uncover an overlooked opportunity poised on a quiet cul-de-sac-an expansive eight-acre residential lot with access to public utilities. Conveniently located just off Route 8 these eight acres are less than three miles from Watertown, on the outskirts of the city. This prime piece of land has undergone a meticulous surveying process. The property boasts a comprehensive topographic survey, laying the groundwork for an exceptional development opportunity. These 8. 43 acres are zoned to allow a Residential Campus Development (similar to a Gated Community) which allows two or more residential homes on one lot. This zoning allows reduced setback and private roads to avoid or minimize disturbances to any discovered wetlands or topographically challenged sections of the property. These eight acres are 367, 210 sq. ft and RL Zoning allows subdivision into 6, 000 sq. ft lots. Available upon request (after POF) are detailed site plans that paint a picture of a thriving neighborhood. These plans include a proposed layout for more 20 single-family residential homes, each thoughtfully integrated into the natural landscape to foster a sense of community and connection to the environment. The site plans encompass proposed grading and utilities, regulated activities, and sediment and erosion controls and storm water management. The roadway plan and profile offer a glimpse into the future infrastructure, promising easy navigation and aesthetic appeal. This is more than just land; it's the beginning of a legacy.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $104,000 | $104,000 | $104,000 |
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 | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $683 | $691 | $885 |
Total Monthly Payment | $758 | $766 | $960 |
* 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.