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Discover a truly unique property where opportunity meets a prime lakeside location. Situated just moments from the water, 231 Lakeshore Drive offers unparalleled versatility with a flexible setup that permits both residential and commercial use. Whether you are looking for a spacious full-time residence, a lucrative short-term rental, or the perfect spot to launch a business venture, this adaptable property is ready to accommodate your vision. Most recently utilized as a comfortable residential home, the expansive floor plan features incredible adaptable spaces, including a large area designated as storage on the floor plan that previously served as a commercial kitchen during the property's time as a local restaurant. This unique feature offers incredible bones for a culinary entrepreneur, a massive home workshop, or a substantial hobby space. The location itself is a standout feature; pulling up to the house, you are greeted by views of the road dead-ending directly into the water. The Fair Play boat ramp sits right at the end of the street, giving you, your guests, or your customers public access to the lake and boat launches in less than a minute. Properties with this level of dual-purpose versatility and exceptional proximity to the water rarely come along. Bring your ideas and explore the endless potential this Fair Play gem has to offer.
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Our Executive Mortgage Banker:
$120,000
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 | $96,000 | $96,000 | $96,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.625% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.424% | 6.764% | 5.992% |
| Monthly Tax Payment | $65 | $65 | $65 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $583 | $615 | $797 |
| Total Monthly Payment | $723 | $755 | $937 |
* 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.