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Development Opportunity - Approved 5-Home Project Rare opportunity for builders, developers, and investors! This offering includes four approved building lots plus an existing single-family residence, creating the potential for a total of five homes. The owners have obtained subdivision approval from the town, and the approved site plan is available in the attached documents, allowing a builder to move forward with development. Included in the sale is an existing income-producing single-family home, currently leased through April 30, 2028, providing immediate rental revenue while development plans are executed. An exceptional investment opportunity with approvals in place, development potential, and built-in cash flow from the existing residence. Existing Home is a 10 Room, 4 Bedroom, 2. 5 Bath Colonial with Lots of Room For Everyone! Main Level Features a Welcoming Foyer with Formal Dining Room, Living Room with a Woodburning Fireplace, First Floor Family Room with Entry Door to Outside (Perfect if You Have a Home Business), Library, Half Bath, Eat In Kitchen with an Adorable Breakfast Nook, First Floor Laundry and a Two Car Attached Garage with Entry Into Your Laundry Room. Second Floor Features Four Bedrooms with Two Full Bathrooms and a Walk Up Attic. Oil Hot Water Heat, Private Well and Septic. Features a Rolling Front Lawn with a Circular Driveway. Please Do Not Walk on Property Without an Appointment. Serious inquiries will be able to view the home on a 2nd or 3rd appointment as tenants are in place.
| Type | Description | Dimensions | Level |
|---|---|---|---|
| Bedroom 1 | Ceiling Fan,Hardwood Floor | 8.0 x 14.9 | Upper |
| Bedroom 2 | Ceiling Fan,Hardwood Floor | 12.0 x 14.5 | Upper |
| Bedroom 3 | Ceiling Fan,Hardwood Floor | 12.0 x 17.1 | Upper |
| Dining Room | Built-In Hutch,Hardwood Floor | 11.9 x 14.0 | Main |
| Eat-In Kitchen | Breakfast Nook,Laminate Floor | 9.1 x 14.3 | Main |
| Family Room | Vaulted Ceiling,Hardwood Floor | 9.6 x 16.2 | Main |
| Library | Book Shelves,Hardwood Floor | 9.1 x 10.8 | Upper |
| Living Room | Fireplace,Hardwood Floor | 14.1 x 27.0 | Main |
| Primary Bedroom | Ceiling Fan,Full Bath,Hardwood Floor | 12.2 x 17.1 | Upper |
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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 | $1,360,000 | $1,360,000 | $1,360,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | $1,042 | $1,042 | $1,042 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,510 | $8,154 | $11,294 |
| Total Monthly Payment | $8,677 | $9,321 | $12,461 |
* 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.