Welcome to an extraordinary opportunity in Rhode Island! Nestled on 84. 64 acres of pristine land, this property offers endless possibilities for developers, equestrian-enthusiasts, and families alike. Be captivated by the potential of this expansive parcel. With two picturesque ponds offering waterfront views and scenic walking trails, envision creating an idyllic community boasting 50+ condos. Boasting 4, 500 feet of road frontage and situated directly across from the esteemed Richmond Country Club, this is one of the rarest development opportunities in Rhode Island. The R-3 zoning allows for the potential construction of 15-27 single-family homes, making it a versatile canvas for innovative projects. Transform it into a thriving horse farm, complete with income-generating boarding facilities. The tranquil ponds lend themselves perfectly to scenic riding trails, promising an unparalleled experience for horse lovers. Situated in an award-winning school district and just a short drive from beaches, it offers the perfect blend of seclusion and accessibility. Imagine the joy of living amidst nature's splendor, with ample space to create individual retreats. The two ponds offer recreational opportunities year-round. This property transcends categorization, offering something truly unique in Rhode Island's real estate landscape. With more acreage than anything else on the market, it presents a rare chance to shape your vision into reality.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$5,300,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $4,240,000 | $4,240,000 | $4,240,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $25,421 | $27,501 | $36,935 |
Total Monthly Payment | $25,546 | $27,626 | $37,060 |
* 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.