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Situated in a highly sought-after St. Augustine location, 9 Masters Dr presents a rare opportunity with a large, oversized lot and coveted CL-1 mixed-use zoning—allowing both residential and commercial possibilities. This parcel can potentially be split, buyer to verify with city based on their desired specifications. Whether you envision a charming historic retreat, income-producing rentals, a retail space or commercial office, or a completely new build, this property offers exceptional flexibility in one of the city’s most desirable growth areas. Built in 1930, the home offers 1, 970 sq ft of interior living space (plus finished porches for a total of approx. 2, 007 sq ft) and sits on 0. 34 acres. The residence features three bedrooms and two baths, a split floor plan, a living room and dining room divided by a nostalgic brick chimney, and a welcoming front porch/sunroom that spans the length of the home. The generous lot provides room to potentially build multiple dwellings, add guest cottages, or design your own private complex —with space for a pool, outdoor entertaining, and ample parking. While the property requires a complete renovation—or offers the option to start fresh with new construction—the solid footprint and unique zoning make this an unparalleled canvas. With vision and creativity, this could become a standout residence, business location, or income-generating investment in historic St. Augustine. This residence is already hooked to city water & sewer. An exceptional opportunity to shape something truly special in a prime setting—this property is ready for its next chapter. Cash or Renovation loans only - this property will not qualify for traditional financing.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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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 | $284,000 | $284,000 | $284,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.360% | 6.304% | 5.648% |
| Monthly Tax Payment | $23 | $23 | $23 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,613 | $1,726 | $2,302 |
| Total Monthly Payment | $1,711 | $1,824 | $2,400 |
* 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.