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Owned by the listing agent. Available starting July 16th, this fully furnished 1-bedroom guest house is located on prestigious, gated Palm Island. Residents enjoy the security of a guarded entrance with Miami Beach Police stationed at the island entry. Recently updated with a new front entry door, this detached residence offers privacy and convenience with its own separate entrance on North Coconut Lane. The home features a full kitchen, comfortable living room, spacious bedroom with walk-in closet, full bathroom, and an in-unit washer and dryer. Enjoy hassle-free living with a flat $100 per month utility fee that includes electricity, gas (water heater), landscaping, and Wi-Fi. While the main residence fronts Palm Avenue, this guest house has its own private entrance, creating a unique and independent living experience. Please note: In the event the main residence is leased to a tenant seeking occupancy of the entire property, the guest house tenant agrees to provide access and will be given a 45-day notice to vacate. Virtual tour and video are available through the MLS. Available for lease terms of six months or longer. Contact listing agent for additional details. The tenant must sign a 60-day notice to vacate clause in the event that the property is sold or the main property, including the back house, is leased. property video here: https: //bit. ly/265-Palm-Avenue-Palm-Island
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William Raveis Real Estate
Phone: 888.699.8876
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
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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 | $1,960 | $1,960 | $1,960 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.424% | 6.640% | 5.972% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $12 | $12 | $16 |
| Total Monthly Payment | $87 | $87 | $91 |
* 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.