Welcome to the historic 1896 East School, once a cornerstone of Rye's educational legacy serving as one of the four neighborhood schools and now a residence waiting for its next chapter. Conceived by local aristocrat James Parsons, this former schoolhouse stands as a testament to its rich history and future potential. Parsons, a professor at the University of Pennsylvania, spearheaded the construction of this unique stone structure and rallying the community to gather beach stones from Wallis Sands. The architectural marvel is believed to be the design of famed architect Henry Hobson Richardson. Upon arrival, you'll be greeted by a sprawling lot, featuring an expansive sunny side yard perfect for large gatherings and leisurely afternoons with a wooded rear area ideal for privacy and wildlife encounters all benefitted by the salty sea breeze. Step inside to discover a blend of history and opportunity. Wood floors bear the marks of student desks and remaining chalk trays preserve the essence of the old single-room classroom. A stroll or bike ride away from Wallis Sands Beach, this property offers a classic beachside lifestyle. Imagine turning this enchanting home into your personal retreat, where every day feels like a vacation. Enjoy nearby attractions like Kook's for a beachside taco, Odiorne Point for concerts, or Downtown Portsmouth for shopping and dining. Schedule your tour today to unlock the potential of this remarkable property.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $860,000 | $860,000 | $860,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.875% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.430% | 6.977% | 6.664% |
Monthly Tax Payment | $290 | $290 | $290 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,225 | $5,650 | $7,492 |
Total Monthly Payment | $5,640 | $6,065 | $7,907 |
* 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.