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UNBEATABLE VALUE IN HOMESTEAD’S CORE. This 5, 000 sq. ft. lot is the lowest-priced buildable land in the immediate area offering this level of development flexibility. Located directly in the high-priority Transit-Oriented Development (TOD) Zone. The Transit-Oriented Development (TOD) zone is one of the most powerful zoning designations for a landowner and is specifically designed to encourage and even mandate DENSITY INCREASES. The property may also qualify for a SUPER DENSITY increase under the Live Local Act guidelines & the TOD designation. The density increase refers to a parcel of land that can leverage multiple layers of legislation to build significantly more units than standard local zoning allows. Property would qualify for expedited permitting saving significant time and money. Public WATER & SEWER are located directly in front of the property, saving tens of thousands of dollars in pre-construction costs. Property is FREE & CLEAR of any Liens or Violations. Property may qualify for a reduction or elimination of parking under Live Local Act / TOD designation. At this price point, the cost-per-door for a multi-unit project is the best you will find in 33030. Buyer to verify all information with the City of Homestead / Miami Dade County.
**Vacant Lot next door is also FOR SALE / Folio: 10-7813-052-0010 / Price: $82, 500 **
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Our Executive Mortgage Banker:
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$105,000
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
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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 | $84,000 | $84,000 | $84,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.324% | 6.524% | 5.846% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $497 | $524 | $692 |
| Total Monthly Payment | $572 | $599 | $767 |
* 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.