Nestled along the serene coastline of Lazy Point in Amagansett, this quaint cottage offers an unparalleled opportunity to create your dream seaside escape. In an idyllic area across from the shore, this property promises breathtaking water views and the soothing sound of waves as your constant companions. While the cottage awaits a renovation, its rustic charm and prime location present endless possibilities for transformation. Imagine waking up to the gentle morning light filtering through the windows, casting a warm glow over the weathered wooden floors and vintage details. With a little creativity and vision, this space can be transformed into a coastal haven that reflects your personal style and preferences. Head outside to the soft sand beneath your feet as you move along the shoreline or bask in the sun on this beautiful stretch of beach. Whether you're seeking a peaceful retreat or an exciting adventure by the sea, this property offers the perfect canvas for realizing your beachfront dreams. Not only do you get to create the beach home of your dreams but you have mooring rights and a launching ramp right down the road. This truly is a beach haven. This is an opportunity for residents of the Town of East Hampton. The home sits on land owned by the East Hampton Town Trustees, residents who have resided in East Hampton for the minimum of a year, may purchase. Approximately 2 miles from the town Amagansett, you are close enough for necessities, yet far enough away to enjoy the quiet features of this beautiful and beachy hamlet. Don't miss this rare opportunity to own a slice of affordable paradise. Embrace the endless potential of this charming cottage and make your coastal living dreams a reality.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $760,000 | $760,000 | $760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.360% | 5.930% |
Monthly Tax Payment | $113 | $113 | $113 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,256 | $4,679 | $6,311 |
Total Monthly Payment | $4,461 | $4,884 | $6,516 |
* 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.