1940 Cypress Log Cabin on Rare Double Lot in Madeira Beach! Discover the unique opportunity to create your coastal oasis on this rare double lot in the heart of Madeira Beach, Florida. The property is actually 2 lots in the public records. This property offers unmatched potential to craft a custom masterpiece, all within steps of the Gulf of Mexico breathtaking shores. This property has multiple possibilities. One is a tear down, to build a new home, Two is to tear it down, separate the lots and build 2 homes, Three is you can explore building the home back if you desire as we have an Actual Cash Value appraisal that can allow for repairs.
Situated in a serene neighborhood undergoing an exciting renaissance, this property offers the best of island living. Enjoy a short walk to award-winning Gulf beaches and the vibrant John’s Pass Village, where you’ll find boutique shops, waterfront dining, and countless water recreational activities.
With the advantage of a double lot, you have the space and freedom to bring your vision to life. Whether you dream of a sprawling coastal retreat, lush outdoor living areas, or a stunning modern home, the possibilities are endless.
This prime location ensures excellent long-term value, making it ideal for a second home, rental property, or personal sanctuary. The ongoing revitalization of the surrounding neighborhood enhances your investment, ensuring that your new property will be part of a thriving, high-demand community.
This property is being offered as-is, giving you a blank slate to bring your ideas to life. Don’t miss this rare opportunity to own a piece of paradise with ample space to create a home that’s uniquely yours. Your dream coastal lifestyle awaits. Contact us today to explore the possibilities and secure your spot in Madeira Beach's exciting future!
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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 | $463,840 | $463,840 | $463,840 |
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 | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,086 | $3,164 | $4,009 |
Total Monthly Payment | $3,178 | $3,256 | $4,101 |
* 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.