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Investor Alert – High-Potential Luxury Opportunity!
This expansive 2, 896 sqft, 4-bedroom, 3-bath home with office in Palmetto is a rare gem, offering incredible potential just steps from the water. Boat slips are only 1. 5 miles away, placing an amazing luxury lifestyle at your fingertips! Flooded mid-renovation, this property is primed for a profitable flip or a stunning forever home, with much of the groundwork already complete.
Designed for modern living, this open-concept home seamlessly blends the kitchen, dining, and living areas—exactly what today’s buyers are looking for! At the heart of the home is an enormous owner’s suite (approximately 25’ x 15’), featuring an opulent ensuite bath and closet room (19’ x 12’), along with an attached den/study (10’ x 15’). Whether used as a private retreat, home office, nursery, or gym, this space is as functional as it is impressive. Plus, there’s easy potential to convert an additional 403 sqft into heated square footage!
Key Renovations & Features: Signed county-approved architectural plans included, 2024 foundation work – joist repair & zone stabilization (transferable warranty), $14K in brand-new windows, NEW French doors, Extensive pre-flood demo completed, NEW framing & drywall work already underway, BRAND NEW re-plumb from street (2024), NEW HVAC ductwork progress, NEW rough-in electrical completed (pre-flood), NEW texture & tile work finished.
Additional perks include a spacious enclosed front porch, an oversized multi-car carport, a garage that can be enclosed for additional storage, and a large private backyard with a pond feature and concrete pad—perfect for outdoor entertaining.
The potential in this home is outstanding. Don’t miss out on this prime investment or luxury dream home opportunity—schedule your showing today!
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Our Executive Mortgage Banker:
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$239,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $191,200 | $191,200 | $191,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.007% | 7.063% | 6.132% |
Monthly Tax Payment | $397 | $397 | $397 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,193 | $1,256 | $1,601 |
Total Monthly Payment | $1,665 | $1,728 | $2,073 |
* 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.