As a former equestrian facility, this would be a great opportunity to purchase 20. 5± acres for an equestrian themed estate or family compound. The property has an old horse track and is fenced/cross-fenced with multiple wells and electric. Existing improvements such as a 5, 076 SF (47'x108') that was formerly a 17-stall horse barn with tack room built in 1998 and a small pond. Additionally, a former horse barn with only a foundation and concrete block walls remaining could potentially be rebuilt. There is also a 60' x 60' cell tower site on the norther half that is included in the sale, however, the lease was bought out by the owner/operator and has no future income. Two points of ingress/egress can be utilized at 4815 Rustic Court East (west) and another at 3410 Youngway Drive (east).
This property is located south of Deeson Road and north of Mount Tabor Road in the Kathleen area of Lakeland, Florida. It is west of Kathleen Road and CSX Railroad tracks that run parallel to this well traveled 4-lane road. The area is comprised of mostly single-family and mobile homes, with a limited amount of support retail in the immediate area. Additional retail is more dominant both north and south along Kathleen Road.
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William Raveis Mortgage, LLC
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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 | $720,000 | $720,000 | $720,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 6.989% | 6.936% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,851 | $4,730 | $6,371 |
Total Monthly Payment | $4,943 | $4,822 | $6,463 |
* 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.