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1087 Lakeside Drive, Block Island, RI, 02807 | $4,600,000
Discover a 3-acre haven on Block Island, where tranquility meets luxury. The westerly-facing house and deck offer uninterrupted views of Fresh Pond and memorable sunsets, while the back deck and second-floor terraces provide captivating ocean views. This remarkable 6-bedroom, 5-bathroom property features an open-concept kitchen with serene Fresh Pond and backyard views, seamlessly connected to light-filled living spaces. Two suites above the three-car garage create an inviting bed and breakfast opportunity. The house is an established and lucrative summer rental. Enjoy water rights and Fresh Pond access. Rest easy knowing that your ocean views are safeguarded by adjacent Conservancy land. With a private backyard and vast front yard, this property offers ample space for outdoor activities and relaxation. Approximately half of the land is meticulously maintained, while the other half is a lush wooded retreat. A secondary driveway entrance adds flexibility, ideal for guest house access or work vehicles. The property includes a generous foundation footprint with grandfathered approval, allowing for future expansion. The primary septic system serves the main house, with a secondary system ready for additional structures. Situated just a five-minute drive from town, you'll have easy access to dining, shopping, and island amenities. Moreover, you're conveniently located close to Black Rock and Crescent beach access, ensuring you're never far from Block Island's pristine shores.
Features
- Amenities: Marina,Near Schools,Recreation Area,Restaurant,Shopping
- Rooms: 13
- Bedrooms: 6
- Baths: 5 full
- Style: Cape Cod
- Year Built: 1981
- Garage: 3-car Attached,Garage,Garage Door Opener
- Heating: Baseboard,Oil
- Cooling: None
- Basement: Exterior Entry,Interior Entry,Partial,Partially Finished
- Approx Sq. Feet: 3,736
- Acreage: 3
- Est. Taxes: $7,153
- Lot Desc: Wooded
- View: Saltwater,Water
- Appliances: Dryer,Dishwasher,Exhaust Fan,Microwave,Oven,Oil Water Heater,Range,Refrigerator,Range Hood,Washer
- MLS#: 1343604
- Website: https://www.raveis.com
/eprop/1343604/1087lakesidedrive_blockisland_ri?source=qrflyer
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William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Whitney RuggVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 7654
401.474.4879
Whitney.Rugg@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
1087 Lakeside Drive, Block Island, RI, 02807
$4,600,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Whitney Rugg
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $3,680,000 | $3,680,000 | $3,680,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
| Monthly Tax Payment | $596 | $596 | $596 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $22,063 | $23,868 | $32,057 |
| Total Monthly Payment | $22,784 | $24,589 | $32,778 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB