Investors and Seasonal Owners take Note-With recent 5 person allotment regulation passing in the State House allowing for additional Income! Leases in place for Academic Year with strong Summer rental history! Tucked away in the desirable Point Judith area of Narragansett, this expansive 5-bedroom, 3-bathroom town sewer ranch offers abundant living space and a prime location. Positioned at the end of a quiet cul-de-sac on a secluded lot, the home is just minutes from Point Judith Pond, Scarborough Beach, the B. I. Ferry, Iggy's clam shack, and so much more! Upon entering, you're greeted by an open-concept living area that effortlessly flows into a welcoming kitchen with sun room overlooking trex deck. The original house offers three bedrooms and two full bathrooms, along with a utility room equipped with a washer/dryer and ample storage for linens and beach gear. Adjacent to the kitchen, a private bedroom serves as the gateway to a separate guest (or owner's) suite. This flex space includes a fifth bedroom with its own full bathroom, as well as a separate living and dining area. For added privacy, the space can be locked off, allowing guests to enjoy their own secluded retreat with a private entrance on separate deck for relaxation. A fenced area off the deck ensures your pets can enjoy the outdoors safely. The property also includes a shed for storing beach equipment. With natural gas, ample parking and central A/C, this home is as practical as it is inviting.
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $639,200 | $639,200 | $639,200 |
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 | $326 | $326 | $326 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,415 | $4,199 | $5,351 |
Total Monthly Payment | $4,833 | $4,617 | $5,769 |
* 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.