This nearly one-acre parcel, ideally situated in the sought-after Spring Street area, presents an opportunity to create your own Block Island retreat. Conveniently located near Pebbly Beach, the iconic Southeast Light, and Spring House, the property offers the perfect setting for an active yet effortless coastal lifestyle. Enjoy early morning sunrises, evening beach walks, surfcasting, and beachcombing along the base of Block Island's dramatic bluffs all just moments away. A recent survey and wetlands delineation report are available, and the parcel is recognized as a buildable lot in accordance with Town of New Shoreham regulations. The current owner is actively working with engineers on septic system design, offering a valuable head start toward development. Take advantage of this manageable, well-located property to build a custom Block Island home in one of the island's most desirable settings.
Block Island, RI, 02807
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) 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.
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