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A truly rare opportunity to own a premier beachfront homesite in the highly sought-after Sand Hill Cove area, one of Rhode Island's most treasured coastal enclaves. Seller is in the process of obtaining all necessary approvals, and the property will be conveyed with approvals in place, creating an exceptional opportunity to begin building your dream coastal residence with confidence. Perfectly positioned along the shoreline, this extraordinary property showcases sweeping panoramic views across the sparkling waters of Narragansett Bay, offering an ever-changing backdrop of breathtaking sunrises, golden sunsets, and endless ocean horizons. Just steps from the sand and surf, the lot presents a remarkable canvas for a bespoke waterfront estate, thoughtfully designed to embrace the beauty and serenity of its surroundings. Imagine waking to the sound of rolling waves, enjoying morning coffee with unobstructed ocean vistas, and entertaining against a backdrop of sea breezes and coastal splendor. Whether envisioned as an elegant year-round residence or an exclusive seasonal retreat, this property offers an unparalleled lifestyle defined by luxury, privacy, and natural beauty. Stunning views of Block Island. Builder has engineered building plans ready and is on site and ready to bring your vision to life, providing a seamless transition from acquisition to the realization of an extraordinary custom home.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,250,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,800,000 | $1,800,000 | $1,800,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.121% | 6.183% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $10,220 | $10,792 | $15,189 |
| Total Monthly Payment | $10,345 | $10,917 | $15,314 |
* 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.