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PRICE IMPROVEMENT – Incredible opportunity in a prime Madeira Beach location just steps from the Gulf of Mexico. This property sustained significant flood damage during last year’s storm and the home is being sold in its current condition. The extent of the damage may require a full renovation or possible tear-down for new construction. Buyers are advised to conduct their own due diligence with the city, county, and any licensed contractors regarding rebuilding options, FEMA requirements, and current building codes. The existing structure previously featured two bedrooms, bonus room/study room, one and a half baths, multiple living areas, a detached one-car garage, and a fenced backyard with patio space. The home's interior, mechanical systems, and finishes were impacted by flooding and will need evaluation.
The lot itself offers an exceptional setting in one of the most desirable pockets of Madeira Beach, only a short stroll to the sand, the Intracoastal Waterway, Caddy’s beachfront dining, and nearby shopping and attractions including John’s Pass. This property is now competitively priced according to condition and provides a rare opportunity to create or build your ideal coastal retreat. Sold as-is with the right to inspect. Buyer to verify all building, zoning, and restoration or redevelopment possibilities. If you'd like, I can also give you a slightly more aggressive investor-focused version.
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Our Executive Mortgage Banker:
Our Insurance Division:
$320,000
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 | $256,000 | $256,000 | $256,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.250% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.324% | 6.398% | 5.614% |
| Monthly Tax Payment | $572 | $572 | $572 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,514 | $1,576 | $2,075 |
| Total Monthly Payment | $2,161 | $2,223 | $2,722 |
* 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.