Discover an extraordinary opportunity with this unique property, featuring a duplex, a separate charming cottage, and a convenient garage, all nestled within 1. 5 acres of captivating landscape. Situated mere minutes from downtown Madison and a short distance from the stunning Hammonasset Beach and State Park, this residence perfectly blends convenience with tranquility. The main home is divided into three distinct units, each exuding its own individual allure, while the separate cottage offers added versatility, whether serving as a guest retreat or a private workspace. The property is complemented by a well-appointed garage and two storage sheds, offering ample space for all storage needs. Embrace this rare chance to enjoy the best of both worlds-an idyllic sanctuary amidst the natural splendor of Connecticut's shoreline. The cottage, built in 1930, spans 600 sq ft and comprises 1 bedroom, 1 bathroom, and a full kitchen. It requires complete rebuilding and is being sold as is.
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William Raveis Real Estate
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Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $575,920 | $575,920 | $575,920 |
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 | 7.932% | 7.282% | 6.498% |
Monthly Tax Payment | $719 | $719 | $719 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,929 | $3,880 | $4,938 |
Total Monthly Payment | $4,739 | $4,690 | $5,748 |
* 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.