Welcome to a remarkable opportunity in Coventry, Rhode Island. This sprawling 52. 74-acre parcel of vacant land, strategically located at 0 New London Turnpike, 0 Bedroom Rd, 1 Bedroom Rd, 0 Town Line, and 2028 New London Turnpike, offers limitless potential for savvy investors and developers. Encompassing over 52 acres, this property provides a substantial canvas for your vision. With the diverse zoning options, this property is a dream for developers. It could be the ideal location for a condominium complex, providing housing in high demand. Affordable housing initiatives are also welcome, contributing to the local community's growth and well-being. Additionally, the vast expanse of this land presents an ideal canvas for solar development, harnessing the power of renewable energy while generating a steady income stream. This is a rare opportunity to secure a significant piece of land with tremendous potential for development and growth. Coventry is a vibrant town with a rich history, offering a range of schools, parks, and cultural attractions. The land's strategic location ensures that residents will have easy access to all these amenities and only 23 miles from Newport and local beaches. The motivated seller is willing to consider financing, making this an even more enticing prospect. Act now and explore the endless possibilities that this expansive property has to offer. Plats and Lots included are as follows 07//25 , 08//02, 08//03, 08//09, 16//133 and 77-13//32.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,950,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,560,000 | $1,560,000 | $1,560,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.055% | 6.234% | 5.805% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,736 | $9,479 | $12,850 |
Total Monthly Payment | $8,861 | $9,604 | $12,975 |
* 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.