Large Lot with two historic oak trees dominating the property close to downtown Canal Street, State Road 44 shopping, I-95 and the beach. 1962 home elevated above the yard except for the brick addition containing bedroom and bathroom 1, utility rooms and south screen enclosed porch. Some parts of the home renovated including bedroom 1, kitchen and bedrooms 2 and 3 closets. Large 14 by 16-foot back wood deck for entertainment. Front porch and side bedroom 1 additions are brick and remaining original house wood frame with siding. Chain link fence including driveway gates for buyers with animals. Property is technically a corner lot as unopened Calypso Street is the south boundary. When the street gets opened the property will be available for three individual single-family home sites. Otherwise the house can remain on 2 of the 3 easternmost lots and the westernmost lot can be split off for a single-family home site once street is put in. Property was used as a rental and in todays market can get $1800 - $2200 a month. House connected to septic tank but sewer is available as it runs through unopened Calypso Street. This neighborhood is now being developed/redeveloped with new housing due to the great location. Property is in the 500-year flood zone. Seller will consider owner financing.
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $251,920 | $251,920 | $251,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.125% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.282% | 6.538% |
Monthly Tax Payment | $276 | $276 | $276 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,719 | $1,697 | $2,160 |
Total Monthly Payment | $2,070 | $2,048 | $2,511 |
* 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.