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Rare 1. 98-acre homesite in Rainbow Lake Estates—can be split into two lots!
No flood zone, no HOA. Discover peace and privacy on this beautiful 1. 98-acre parcel tucked off Marion Boulevard in desirable Rainbow Lake Estates. This high and dry property can be divided into two approximately 1-acre lots, giving you ultimate flexibility: build your dream home on one and keep or sell the other, or create a true family compound.
The homesite is already improved with a 10x20 shed, offering immediate storage, workshop space, or a head start on your build. Surrounded by mature landscaping and colorful azaleas, this property delivers natural beauty, shade, and seclusion from day one.
With no HOA, you have complete freedom—no fees, no restrictions. Add a pool, RV garage, guest house, or whatever fits your vision.
Conveniently located just minutes from shopping, dining, schools, and Rainbow Springs State Park, yet far enough away for true tranquility. This is a rare opportunity to own nearly 2 usable acres in one of the most peaceful communities, with a storage shed already in place. Don’t miss your chance to build your dream here
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Our Executive Mortgage Banker:
Our Insurance Division:
$59,900
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 | $47,920 | $47,920 | $47,920 |
| 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 | 6.285% | 6.292% | 5.609% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $272 | $291 | $388 |
| Total Monthly Payment | $347 | $366 | $463 |
* 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.