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A home that redefines coastal living in Milford's coveted Point Beach enclave. Use as your primary residence or as an income producing short term rental. Serenity meets seaside vibrancy with sweeping decks, pristine water views, and private beach access just steps away. Golden hours linger longer over Long Island Sound-watch sunsets, sunrises, and Point Beach fireworks from the comfort of your living room or deck. Multiple terraces and porches create effortless indoor-outdoor living, each a front-row seat to the tide's rhythm. Inside, sunlight floods an open floor plan featuring a chef's kitchen with Blue Star gas range, granite counters, and a double Corian sink-flowing naturally into a spacious dining area and a cozy gas-fireplaced living room. Outdoors, enjoy raised garden beds, a private outdoor shower, solar power (solar panels are paid off), and generator wiring-luxury with sustainability in mind. The unfinished lower level offers potential for added living space or a studio. Located in the Point Beach Improvement Association, membership optional, this home combines coastal charm with everyday convenience- minutes to Walnut Beach Boardwalk, and downtown Milford's shops and train station. 38 Elaine Road isn't just a home-it's a seaside narrative of light, air, and timeless New England elegance. A Coastal Retreat That Earns - 38 Elaine Rd, Milford: Beachside Charm Meets Lucrative Short-Term Income. Flood insurance is $700. 00 for the year and is fully transferable.
| Type | Description | Dimensions | Level |
|---|---|---|---|
| Bedroom 1 | Built-Ins,Hardwood Floor | 10.5 x 14.0 | Upper |
| Bedroom 2 | Remodeled,Hardwood Floor | 10.5 x 12.0 | Upper |
| Dining Room | Remodeled,Beams,Sliders,Hardwood Floor | 12.6 x 24.2 | Upper |
| Full Bath | Remodeled,Built-Ins,Full Bath,Tub w/Shower,Tile Floor | 7.5 x 10.2 | Upper |
| Kitchen | Remodeled,Beams,Built-Ins,Granite Counters,Pantry,Hardwood Floor | 13.5 x 34.1 | Upper |
| Living Room | Remodeled,Gas Log Fireplace,Fireplace,Hardwood Floor | 21.2 x 18.2 | Upper |
| Primary BR Suite | Remodeled,Bedroom Suite,Full Bath,Walk-In Closet,Hardwood Floor | 21.2 x 20.1 | Upper |
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $615,200 | $615,200 | $615,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 5.990% | 5.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.137% | 6.132% | 5.396% |
| Monthly Tax Payment | $650 | $650 | $650 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,445 | $3,684 | $4,905 |
| Total Monthly Payment | $4,187 | $4,426 | $5,647 |
* 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.