MULTIFAMILY LOT -- Zoned NSM-1. This lot received a buildable lot letter in which the city will allow up to 8 units (2 units may be workforce). Developers may build townhomes with ADU units for sale or rent or use your creativity. 7th Ave S is located in an OPPORTUNITY ZONE which will provide investors with hefty tax benefits. This property is highly walkable as it is located 0. 3 miles from the NEW $6B Historic Gasplant Development at the Tropicana Stadium, ~5 minute walk to MLB Rays Baseball games, steps to Campbell Park and St Pete Skate Park, John Hopkins All Ch*ldren's Hospital and Bayfront Healthcare Systems are within 1 mile. Future residents will be able to enjoy first-rate cocktails and fresh oysters at Intermezzo in the Edge District or discover breweries + world renowned artists in the Warehouse Arts District -- a 6min bike ride away. This Superstar Lot on 7th Ave S is steps from a Pinellas Trail Access -- the Pinellas Trail is currently in the ideation process of being developed into a project similar to the Atlanta Beltline, a natural trail lined with dining, shopping, and opportunities to connect and commute along the trail (Google "The Sunline" by Take MAR to learn more. ) *NON FLOOD ZONE*
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $560,000 | $560,000 | $560,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.760% | 7.042% | 6.160% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,868 | $3,679 | $4,688 |
Total Monthly Payment | $3,960 | $3,771 | $4,780 |
* 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.