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Opportunity like this does not come around often! Located in BD-1 (Business District 1) zoning in Bay Shore, this legal one-family residence with potential of a legal accessory apartment on the second floor (subject to town approvals) offers a rare combination of residential comfort, commercial flexibility, and income-producing potential. The home features 4 bedrooms and 2 full bathrooms, including two newly renovated bathrooms, brand-new flooring throughout, and new windows throughout, creating a fresh and modern interior. Significant mechanical upgrades include updated electrical panels, updated boilers with separate systems, four separate electric meters, natural gas, and public sewer, providing exceptional infrastructure for multi-use configurations. The layout also allows for the, making this an ideal setup for rental income or extended living arrangements. A true highlight of the property is the oversized three-car garage, previously used for boat manufacturing, offering substantial space for workshop use, storage, or permitted commercial operations under BD-1 zoning. A separate one-car garage further enhances functionality, making this an excellent option for an owner-operator, contractor, or business owner needing space for commercial vehicles, equipment, or on-site operations. Whether you’re looking to live and work in one location, generate multiple streams of income, or secure a property with zoning flexibility and modern upgrades already in place, this offering delivers outstanding value and versatility. A truly unique property with endless potential — don’t miss this rare opportunity!
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Our Executive Mortgage Banker:
Our Insurance Division:
$799,988
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 |
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|---|---|---|---|
| Loan Amount | $639,990 | $639,990 | $639,990 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 5.875% | 5.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.112% | 6.520% | 5.415% |
| Monthly Tax Payment | $1,024 | $1,024 | $1,024 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,534 | $3,786 | $5,103 |
| Total Monthly Payment | $4,650 | $4,902 | $6,219 |
* 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.