This charming cottage is a once in-a-lifetime coastal living and lifestyle opportunity in one of the most beautiful towns in Rhode Island. This special offering is a 3436 sq. ft. classic shingle style cottage originally built in the 1940s and evolved beginning in the 1990s into a home for a growing family. Renovations include a gourmet kitchen, baker's pantry with a farmhouse sink, beverage refrigerator and dishwasher. Both living rooms have fireplaces, one made of stone from the local Weekapaug beaches. The primary bedroom has an en suite bathroom, deck and cozy sitting room. And there are an additional 4 bedrooms, one with bunkbeds, and two additional full baths. Equipped with charging port for electric vehicles. This unique property is nestled in the seaside community of Weekapaug and is walking distance to the Tennis Club with eight tennis courts, croquet, two pickleball courts and a newly renovated Yacht Club. Enjoy your coffee on the sun-filled screened-in porch, and then go for a scenic run, walk, or bike ride and feel the ocean calling you for swimming, surfing or sailing. For the golf enthusiast, there are many challenging and beautiful courses in the area. The home is accessible to Quonochontaug Pond for windsurfing, kayaking and fishing. Enjoy sunsets and ocean breezes and entertain your guests at the fabulous Weekapaug Inn or the nearby Ocean House in Watch Hill. Bring your imagination and make this your own. Do not let this gem get away!
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$2,890,000
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 | $2,312,000 | $2,312,000 | $2,312,000 |
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 | $1,583 | $1,583 | $1,583 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $12,947 | $14,235 | $19,199 |
Total Monthly Payment | $14,655 | $15,943 | $20,907 |
* 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.