Discover the ultimate oceanfront get away with this 4-bedroom, 3-bath cottage on Block Island. Sitting on 1. 48 acres, it offers some of the best Atlantic Ocean views around. Built in 1960 and lovingly updated over the years, the home features an open layout on the first floor with a kitchen, living, and dining area, plus a primary suite all designed to take in those stunning ocean views. Upstairs, you'll find three more bedrooms and two full baths, each with amazing views. Perfect for outdoor fun, the property boasts a large yard and direct stairs to Spring Street Seal Beach , ideal for fishing, swimming, and surfing. Begin your mornings with a beautiful Block Island sunrise and unwind in the serene privacy that waterfront living provides. Located close to Town and all its activities, this home offers a perfect blend of adventure and relaxation by the sea. Whether you're looking to entertain guests or enjoy quiet, peaceful moments, this oceanfront home has it all. Property has Coastal Resource Management Council (CRMC) Assent Approval, which provided significant benefits for erosion protection. Greater development flexibility with a Residential Business Zone (RB) which allows for 8% lot coverage. Combined CRMC Assent and RB Zone enhances the property's utility and attractiveness, contributing to its overall value and sustainability.
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Our Executive Mortgage Banker:
Our Insurance Division:
$3,475,000
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 | $2,780,000 | $2,780,000 | $2,780,000 |
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 | $732 | $732 | $732 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $14,924 | $16,445 | $22,900 |
Total Monthly Payment | $15,781 | $17,302 | $23,757 |
* 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.