A vacant lot spanning 0. 284 acres (12, 371 square feet). It boasts partial ownership in a 1. 6-acre private waterfront park, rendering it a unique and unparalleled waterfront property. Although there is no homeowners association (HOA), a corporate structure facilitates shared ownership among 14 property owners, enabling open access to the 1. 6 acres of sea walled waterfront property inclusive of riparian rights and a boat launch. There is a one time buy in fee of $1000 for membership in the corporation. Yearly maintenance fees for the park are currently $385 per year, per lot owner. The park is interconnected with and encompassed by the 14 lots. The lot itself has been cleared, filled, and equipped with meters and backflow preventers, positioning it for immediate construction. The property is zoned for an 800-square-foot accessory unit alongside the primary structure. The property also benefits from custom plans and designs provided by a leading Sarasota architectural and engineering firm. The proposed home promises open views of the Manatee River, with all necessary permits currently secured. Survey and land documents available upon request. Owner will consider financing at a competitive rate contingent on terms.
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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
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** | 7.125% | 6.875% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.880% | 7.042% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,482 | $1,445 | $1,855 |
Total Monthly Payment | $1,557 | $1,520 | $1,930 |
* 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.