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Tucked away like a hidden jewel at the shoreline, this storybook beach cottage captures the charm of coastal living. Approached by a classic brick landing, this cottage welcomes you with beachy curb appeal and a sense of relaxed living. Bathed in natural light and thoughtfully updated, this delightful retreat offers a warm and inviting interior designed for effortless living. Every detail reflects comfort and charm, creating the perfect escape for weekend getaways, or entire summer living. This cottage is located in a vintage beach community nestled on leased land ( each cottage is set on a small plot)located in the picturesque coastal town of Madison Ct. This unique village is situated on 6 acres adjacent to the sandy stretch of Long Island Sounds Hammonassett State Park, Salt Meadow Park (includes dog park) & the Greenway trail. Upon entering you'll find a modern open floor plan with vaulted ceilings. The exterior delights with a huge private deck for entertaining or a peaceful place to dream while reading a favorite book. Cottage offers a huge shed in addition to a private gravel driveway. Since the Land is leased a mortgage is not an option financing must be cash. No motorcycles, trailers , renting or Air bnb. Subject to rules and regulations of land owner. Must be approved by landowner through application. Land lease, taxes, and garbage removal approximately $6600 a year As a resident you have access to Madison Town Beaches for a modest yearly charge.
| Type | Level |
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| Primary Bedroom | Main |
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William Raveis Mortgage, LLC
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NMLS Mortgage Loan Originator ID 1724767
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William Raveis Mortgage, LLC
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NMLS Mortgage Loan Originator ID 793093
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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 | $131,920 | $131,920 | $131,920 |
| 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% | 6.776% | 6.078% |
| Monthly Tax Payment | $155 | $155 | $155 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $812 | $845 | $1,104 |
| Total Monthly Payment | $1,042 | $1,075 | $1,334 |
* 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.