This is a wonderful opportunity to build your canal-front home in this sought after neighborhood. The FEMA adjusted market value for the land is $986, 329. The lot is 60 feet wide and 115 feet deep - almost 7000 sq. feet total. The canal is extra deep in this part of the canal. The property is being sold for the land at a significant reduction below market value. Seller's loss is your gain. This is an exceptional opportunity for investors or builders. Truly an idyllic place to live. Walk to the beach, dog park, restaurants. Catch the beach trolley to the Publix or other locations up and down the beach. Build your forever home or generate huge profits as an investor. Inspections are advised.
Room sizes or dock size, etc. may not be accurate. Please verify measurements. Property being sold for the land with no access to the home.
Be very careful in the back. . . some decking is loose. Dock has loose boards and may not be stable as well. Do not walk on dock or decking.
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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 | $639,200 | $639,200 | $639,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 7.250% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.330% | 7.386% | 6.623% |
Monthly Tax Payment | $248 | $248 | $248 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,253 | $4,360 | $5,524 |
Total Monthly Payment | $4,593 | $4,700 | $5,864 |
* 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.