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Presented by
The One Team |
Everyone knows the real estate mantra: location, location, location. This property stands out precisely because of its location, surrounded by rural residential land where mobile homes are restricted, but traditional homes and barndominiums are welcomed. What makes this property truly intriguing is its long-term potential. While it currently supports residential uses, long-term, the highest and best use is likely commercial, which typically carries a higher land value and investment upside.
This property presents a unique opportunity for the self-employed professional who wants to operate a business from home. Whether you have equipment, vehicles, or require a workshop, this land offers the flexibility needed to accommodate those needs. Additionally, if you embrace the barndominium lifestyle—enjoying chickens, horses, and gardening—you could find this property to be a perfect fit. The barndominium structure can also be converted to a commercial building in the future, enhancing its versatility.
The property must be annexed into the City of Bushnell to obtain building permits. Prospective buyers should carefully review the Land Development Regulations to understand commercial use requirements. The seller is acceptable to a 120-day due diligence period, allowing buyers to thoroughly explore their options and investment potential.
This property is a strategic investment with possibility of future commercial value. Whether you seek a unique home-business blend or a forward-looking commercial investment, this opportunity could be your golden egg waiting to hatch.
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$192,000
Sales Associates
William Raveis Real Estate
Phone: 860.850.0500
OneandCompany@raveis.com
VP, Mortgage Banker / Production Manager
William Raveis Mortgage, LLC
Phone: 203.305.5736
Kevin.DeTullio@Raveis.com
NMLS Mortgage Loan Originator ID 1724767
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $153,600 | $153,600 | $153,600 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.500% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.230% | 6.650% | 5.866% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $933 | $971 | $1,265 |
| Total Monthly Payment | $1,008 | $1,046 | $1,340 |
* 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.