This is a unique property in Dunnellon, Citrus County. It is approximately 535' on the southwest side of the Withlacoochee River. The location is zoned General Commercial. Examples of businesses that could be located in this area are vacation cottage, canoe and kayak rentals, grocery store, pharmacy, clothing store, hardware store, hair salon, auto repair shop, florist and real estate office. The building on this property is a fixer. It was built in 1950 and has not had upgrades and is in poor condition. It was originally used as a 3 bedroom residence and with some work, it could become an income property in a convenient location. Downtown Dunnellon is only five minutes up the road for access to a myriad of dining establishments, fun shopping experiences, professional services and personal service businesses. Kayaking is extremely popular in the Dunnellon area due to the easy access for enthusiasts to the Rainbow River and the Withlacoochee River. With some improvements to the building, this property can be utilized as a short term rental, primary residence or vacation cottage making it very attractive to investors. The city of Dunnellon is growing rapidly. For added convenience there is a boat ramp directly across the river as well as the iconic Blue Gator Bar & Restaurant. The Confluence, a reference to this area, was aptly named meaning the joining of two rivers. These rivers offer tourists and residents excursions through old Florida via boats, kayaks, and canoes where crystal clear water and breathtaking scenery awaits.
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William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $103,040 | $103,040 | $103,040 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $24 | $24 | $24 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $703 | $685 | $869 |
Total Monthly Payment | $802 | $784 | $968 |
* 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.