Awesome opportunity to rebuild on an incredible bayou in Treasure Island, or convert the entire downstairs to garage for all your toys and have living above the flood plain! This 6 bedroom, 4 bath home did suffer flooding with Hurricane Helene, but gives a buyer a fantastic opportunity under the FEMA 49% rule to rehab the 2390SF on the bottom floor to restore the three bedrooms, two baths, living room and kitchen. Home has a grand entry way with marble floors and vaulted ceilings. Galley kitchen and walk in pantry can be opened up completely to the breakfast nook, living room and dining room open concept living. Rear bedroom has an ensuite bathroom that serves as a downstairs master, plus two more bedrooms and hall bath. But for the car collector or hobbyist, the downstairs could be converted to garage and storage space, with kitchen moved to the second floor. The second floor has a massive family room, three bedrooms, two bathrooms, laundry room, and large third floor loft that could also be converted to bedroom and bathroom. Hurricane impact doors and windows and shutters added between 2019-2020, and roof was replaced in 2021. Two HVAC units replaced in 2019 and are working at time of listing. Outside, a large pool and spa are great for entertaining, plus manicured fenced yard, and a large Wally Watt shed for storage. A large dock has multiple options for your boating pleasure, but also boasts gorgeous views of the sunset. Don't miss this opportunity for waterfront living in beautiful Paradise Isle, just minutes to Treasure Island Beach, Central Avenue shopping and restaurants, and a short drive to downtown St. Petersburg!
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$2,295,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,836,000 | $1,836,000 | $1,836,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.750% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.851% | 6.790% |
Monthly Tax Payment | $850 | $850 | $850 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,756 | $11,908 | $16,120 |
Total Monthly Payment | $12,731 | $12,883 | $17,095 |
* 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.