Brand New Construction Opportunity! Single family island home with 4 bedrooms and 4. 5 full baths plus office situated on nearly a 10, 000 square foot duplex lot. This charming home with resort style pool could be completed in about 12 months. This home would be conveniently located in the heart of Homes Beach, close to shopping and walkable to more than 10 of the island's boutique restaurants. The Homes Beach dog park and skate park are close by and the beach is only 3 blocks away as well. Call us for a private showing to see this island gem. A full set of plans are available, and the developer has built this model in 2 other locations. Estimated cost of construction is $1, 300, 000. 00. The lot is available at $1, 300, 000. 00. Total estimated cost $2, 600, 000. 00 A similar model recently sold for $3, 000, 000. 00. Projected income as a vacation rental is approximately $200, 000. 00 a year gross
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,600,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,080,000 | $2,080,000 | $2,080,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.875% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.903% | 7.014% | 7.041% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $14,189 | $13,664 | $18,551 |
Total Monthly Payment | $14,314 | $13,789 | $18,676 |
* 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.