TBD Silver Lake Scotchtown Road, Middletown, NY, 10940 | $525,000

Attention Builders and Developers: Presenting a rare, fully-approved 3-lot subdivision on Silverlake Scotchtown Road in the desirable Town of Wallkill, ready for the construction of three new two-family homes. Each lot is designed to accomodate a 32x80 structure which is large enough for each unit to include 3 bedrooms, 2 baths and a 1 car garage. Seller does not have architectural plans so builder/developer can decide exactly what they want to build. This is a shovel-ready project as all major hurdles have been cleared: the plans for the Patel Multi-Family Realty Subdivision have been granted Planning Board approval and the map is officially filed, eliminating months of risk and carrying costs. The infrastructure is approved for connection to Municipal Water, Municipal Sewer, and Natural Gas (O&R). The location offers superior convenience, situated just off Route 211 with excellent proximity to major highways like I-84 and Route 17/I-86, and only minutes from the Metro North train, making the final units highly marketable. The approved zoning allows the buyer significant flexibility to provide their own architectural drawings to the Town, enabling them to tailor the unit sizes and finishes to the current market. A previous design concept centered around high-yield duplexes featuring spacious 3-bedroom, 2-bathroom units with a 1-car garage. This offering includes Lot 3 (+/- 0. 432 acres), Lot 4 (+/- 0. 867 acres), and Lot 5 (+/- 2. 5 acres). For streamlined long-term management, a common/shared driveway and a common use and maintenance agreement are already prepared and in place. This is a premium opportunity for a developer looking to maximize their construction timeline and profitability with a de-risked site. Contact the listing agent today to receive all filed site plans and engineering reports (See Documents for the Filed Map)

Features

  • Lot Desc: Part Wooded, Subdivided
  • Elem. School: Presidential Park Elementary
  • Middle School: Middletown Twin Towers Middle Sch
  • High School: Middletown High School
  • School District: Middletown
  • MLS#: 928228
  • Days on Market: 5 days
  • Website: https://www.raveis.com
    /prop/928228/tbdsilverlakescotchtownroad_middletown_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Keller Williams Hudson Valley   Phone: 845-610-6065

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Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.DeFlorio@Raveis.com

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TBD Silver Lake Scotchtown Road, Middletown, NY, 10940

$525,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah DeFlorio

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.DeFlorio@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Conforming*
30 Year
Fixed-Rate Conforming
15 Year
Fixed-Rate Conforming
Loan Amount $420,000 $420,000 $420,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.750% 6.125% 5.375%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.521% 6.304% 5.648%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $2,451 $2,552 $3,404
Total Monthly Payment $2,543 $2,644 $3,496

* 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.