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Rare opportunity to own a piece of buildable land in a supply-restricted area where very little undeveloped land remains. Situated on a desirable corner lot at the entrance to a cul-de-sac within the highly sought-after Connetquot School District, this . 115-acre parcel presents an exceptional opportunity for builders, developers, investors, or end users looking to build a custom home. This project is practically being handed to the next owner on a silver platter, with variance approval, Health Department approval, and stamped architectural plans already completed, providing a significant head start while saving valuable time, expense, and uncertainty in the development process. Plans call for a 1, 000-square-foot two-story home featuring 2 bedrooms, 2 full bathrooms, 1 half bathroom, and a full basement with 8-foot ceilings and egress. Water and electric are available at the street, and the sale includes contact information for the project expeditor to help streamline the building process. Conveniently located just minutes from MacArthur Airport, the Long Island Expressway, Ronkonkoma Train Station, and the transformative Station Yards development, this property offers outstanding accessibility to transportation, shopping, dining, and major employment centers. Whether you’re looking to build your dream home, an economical rental property, or your next investment project, this is a rare opportunity to secure a buildable lot in one of Suffolk County’s most convenient and rapidly growing locations.
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Our Executive Mortgage Banker:
$275,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $220,000 | $220,000 | $220,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.512% | 5.866% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,318 | $1,373 | $1,812 |
| Total Monthly Payment | $1,393 | $1,448 | $1,887 |
* 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.