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Direct Waterfront Home with Separate 2BR Cottage, LI Sound views, large dock and spectacular sunsets. #320 (Main House) is 3129 sf, 100 percent FEMA compliant and was completely renovated in 2018. This perfect beach home is a light filled 4BR/4Bath, waterfront dream with direct access to both the LI Sound and Pine Creek. Expansive windows and open floor plan allow natural light to flow seamlessly throughout. The spacious private wrap around deck is ideal for relaxing and entertaining. Luxurious primary suite w/fireplace and floor to ceiling panoramic views offers endless tranquility. The finished 3rd flr space w/large outdoor deck and hookup for hot tub provides extra hangout options. The 3 private bedrooms w/3 full baths, including a 1st flr BR/office option and a 3+ car garage underneath offer room for all and plenty of storage for the many necessary "beach house" toys. #318 (Cottage) is an additional 832+sqft 2BR/1Bath guest house and provides tons of options as either an additional living space or as an income producing investment. Current tenant is month to month, paying $3500/month, and would love to stay if new owner is interested. . 32 acres provides for privacy and completes this premium beach location. Current owner has maintained DOCK but has only used it for launching tubes, kayaks and paddle boards, however DOCK by right can be rebuilt to better service boats if needed. RETaxes were just reduced by Town by over $12K. Current owner pays $618/year for Flood Insurance for FEMA compliant main house (#320); Cottage (#318), which is not FEMA compliant (but has never flooded), pays $963/year. Cottage would need to be raised 6ft to be FEMA compliant. The annual month to month rental income for the cottage is $42, 000 ($3500/month). The cottage has easily rented while the current owner has owned the property and current tenant would very much like to stay.
Type | Description | Level |
---|---|---|
Bedroom 1 | Full Bath,Hardwood Floor | Upper |
Bedroom 2 | Hardwood Floor | Upper |
Bedroom 3 | Full Bath,Hardwood Floor | Main |
Bedroom 4 | Hardwood Floor | Other |
Bedroom 5 | Laundry Hookup,Hardwood Floor | Other |
Dining Room | Hardwood Floor | Main |
Eat-In Kitchen | Breakfast Bar,Island,Hardwood Floor | Other |
Great Room | Balcony/Deck,Fireplace,Sliders,Hardwood Floor | Main |
Kitchen | Dining Area,Island,Hardwood Floor | Main |
Living Room | Balcony/Deck,Sliders,Hardwood Floor | Other |
Primary BR Suite | Balcony/Deck,Gas Log Fireplace,Full Bath,Sliders,Walk-In Closet,Hardwood Floor | Upper |
Rec/Play Room | Balcony/Deck,Wet Bar,Laminate Floor,On 3rd Floor | Upper |
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NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,919,200 | $2,919,200 | $2,919,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.309% |
Monthly Tax Payment | $2,930 | $2,930 | $2,930 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $16,575 | $18,692 | $24,831 |
Total Monthly Payment | $19,630 | $21,747 | $27,886 |
* 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.