Calling all developers! Opportunity to create a new housing development in an incredibly desirable location. On the southern edge of Shaftsbury village, within walking distance to elementary school, playgrounds, town hall, country store, and US Post Office. Possibilities for future growth are immense. Town water service is nearby in two locations. Using ARPA funds, the town is currently studying the creation of a municipal sewer system; otherwise private wastewater system(s) can be permitted through the state. Likewise, the town recently acquired two lots next to town hall to build a community center and garden. This 52. 7 acres is across the street from the Robert Frost Trail; expanding the trail through this site would be a dream come true. Currently 1 acre minimum zoning, potential to build dozens of homes to meet the area's high demand for housing year-round residents. Whether your mission is to meet the needs of renters, first-time buyers, aging seniors, growing families, executives, farmers, artists. . . if you build it, they will come! On site is a 5 bedroom Colonial Farmhouse with super solid bones in need of complete interior rehab, classic red barn, and a former retail art/farm stand on Route 7A. . . which would make a perfect builder's showroom for prospective new home buyers. The open pasture and immature woods are naturally divided by a small stream, idyllic for a water feature in a new subdivision. Don't just dream it, let's explore and make it happen!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $599,200 | $599,200 | $599,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.984% | 7.146% | 6.256% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,986 | $3,982 | $5,053 |
Total Monthly Payment | $4,078 | $4,074 | $5,145 |
* 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.