This single property has MULTIPLE investment opportunities. As an existing duplex, you could live in one unit while using the other as a vacation rental, helping to pay the mortgage. You could also rent both units as a vacation rental, or take advantage of maximizing the zoning and putting a quadplex in place of the current duplex.
Regardless of how you plan to configure the property, the main draw is LOCATION, LOCATION, LOCATION. The property is a short walk from Madeira Beach, Historic John Pass Village, or the beautiful Boardwalk Place. The property is sheltered from the wind, yet under a 10 minute boat ride from the open Gulf of Mexico. A multi-vessel dock allows exclusive access for your sailboat, motorboat, jet skis, or kayaks.
You or your guests can enjoy sunrise in your backyard, and sunset on the beach whenever you desire.
Seller is open to 1031 Exchange
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,160,000 | $1,160,000 | $1,160,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.750% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.864% | 6.810% |
Monthly Tax Payment | $876 | $876 | $876 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,428 | $7,524 | $10,185 |
Total Monthly Payment | $8,429 | $8,525 | $11,186 |
* 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.