Don't miss your opportunity to construct your dream home on this rare residential lot near the South Burlington/Shelburne town line. This expansive, open lot with seasonal views of the Adirondack Mountains to the west and features a newly planted orchard with a variety of apple, pear, cherry, peach, black walnut, and willow trees. Enjoy the convenience of a prime location with quick access to downtown Burlington, UVMMC, I-89, and other essential amenities. The lot's sloping terrain is perfect for a walkout lower level design. Essential utilities are in place, including a 4-bedroom septic mound system, natural gas, and town water hookups at the street, with power available on the east side of Spear Street. While a new driveway will need to be installed as the current one is not part of the parcel, the lot's layout offers great flexibility for house placement, with the forced main ending approximately 10 feet from the western edge of the property. Adding to its allure, a protected no-build zone to the west ensures privacy. This parcel cannot be subdivided, guaranteeing exclusive use of the entire property. Don’t miss out on this extraordinary opportunity to build in a beautiful, well-connected location. This lot is ready to build on. . . all you need is a local building permit.
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Our Executive Mortgage Banker:
Our Insurance Division:
$459,900
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $367,920 | $367,920 | $367,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,448 | $2,445 | $3,103 |
Total Monthly Payment | $2,523 | $2,520 | $3,178 |
* 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.