The Boat House! Nestled in the serene Avondale area of Westerly, RI, this waterfront property offers an unparalleled opportunity to create your dream coastal retreat. Set on 0. 82 acres with direct access to Colonel Willie's Cove, the property includes a private dock and boat launch, perfect for boating enthusiasts. The cove leads into the Pawcatuck River, offering easy access to Little Narragansett Bay and the charming waters of Watch Hill Harbor. The true highlight of this property is the enchanting Boat House, a masterfully crafted gem built by a renowned builder responsible for some of Watch Hill's finest homes. Overlooking the tranquil cove, this unique structure serves as a focal point and embodies coastal charm. Additionally, the property features an unfinished two-car garage with a spacious living area above, constructed in 2007, offering excellent potential for customization. While the main house is ready for a fresh start, the real value lies in the waterfront setting and these two exceptional structures. Located on a quiet cul-de-sac, the Avondale neighborhood is known for its boatyards, the Avondale Farm Nature Preserve, and a warm, welcoming community. Don't miss this rare opportunity to own a slice of Rhode Island's coastal beauty!
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,350,000
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 | $1,880,000 | $1,880,000 | $1,880,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | $1,050 | $1,050 | $1,050 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,674 | $11,729 | $15,738 |
Total Monthly Payment | $11,849 | $12,904 | $16,913 |
* 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.