Walk to Clay Head trail from this sprawling family compound with 5 bedrooms plus a detached two car garage offering a two bedroom guest suite above. Great for extended family or overflow guests. Large yard for most family games along with decks on each building to enjoy the mornings and evening sunset skies. Plenty of parking space too! Air Conditioning in both main house and cottage to keep summer months cool. Just off Corn neck Road on Clay Head Trail, this property is just a short car ride or bike ride away from Mansion Beach. Explorers can enjoy access to popular places like the Maze, Hodge Property, the Labyrinth and the North Lighthouse. Miles of endless Greenway trails to explore and look for that elusive orb. This is a great opportunity to own a home on Block Island with plenty of room for family and friends. Two bedroom apartment above garage is currenly being used as a 513 for year round housing. Leases in place until November 2024.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,995,000
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 | $1,596,000 | $1,596,000 | $1,596,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
Monthly Tax Payment | $689 | $689 | $689 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,568 | $9,441 | $13,147 |
Total Monthly Payment | $9,382 | $10,255 | $13,961 |
* 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.