|
Nearly 5 Acres on the Little Trout River - Development & Income Opportunity
Rare opportunity to acquire approximately 4. 99 acres with over 200 feet of frontage on the Little Trout River in Jacksonville. With RLD-60 zoning allowing one home per half acre, the property offers the potential for approximately 10 half-acre residential lots (buyer to verify with the city), making it ideal for a small residential development, investment hold, or redevelopment project.
The property was formerly operated as a mobile home park, and multiple septic systems are already in place, creating the possibility for continued lot rental income while planning future development.
Currently on the property:
Income-Producing Lots - Trailers owned by tenants • Trailer 1 - $220/month lot rent • Trailer 2 - $160/month lot rent (tenant maintains mowing of property) • Trailer 3 - $300/month lot rent
Existing Structures • House 1: 3-bedroom, 1-bath home with tile flooring and carpeted bedrooms (includes stove and refrigerator) " House 2: 1-bedroom, 1-bath structure that has been gutted and ready for renovation
Utilities and access add to the development potential, with city water and sewer nearby (buyer to verify availability and connection requirements). The property also features paved road frontage and mature trees, providing both privacy and natural character.
Additionally, the property backs up to 5822 Trout River Blvd (MLS#2134743), which is also available for purchase by the same owner, presenting a unique opportunity to assemble a larger development footprint along the river.
The property is supported by a 120-foot free-flowing well with dual pumps to maintain strong, consistent water pressure. There are seven septic systems on site, with four currently in active use.
With existing income, flexible zoning, infrastructure in place, and waterfront frontage, this property offers multiple strategies for investors -- continue operating as a rental property, redevelop into residential lots, or build a private riverfront estate.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$415,000
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
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $332,000 | $332,000 | $332,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.625% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.609% | 6.887% | 6.078% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $2,044 | $2,126 | $2,779 |
| Total Monthly Payment | $2,119 | $2,201 | $2,854 |
* 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.