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Welcome to a prime investment opportunity in one of Sarasota's desirable neighborhoods. This expansive double lot (lot split possible), totaling 14, 300 square feet, presents a rare chance for visionary developers and astute investors to make their mark. Currently featuring a fixer-upper house, the property offers a blank canvas for redevelopment or renovation, allowing for endless possibilities to create a modern living space. The lot's generous size provides ample room to explore various development options. Whether you envision building a spacious single-family home or updating the existing structure, this property offers the flexibility to bring your vision to life. Importantly, there is no HOA, granting you the freedom to design and use the space without additional restrictions or fees. In addition to its desirable location near Siesta Key Beach and just minutes to Downtown Sarasota. This home is also within the catchment area of one of the most esteemed elementary schools in the state of Florida as well as a short distance to Sarasota Memorial Hospital. This, combined with the proximity to A+ schools, Arlington Park, and Lido Key, makes it an ideal choice for families seeking the ultimate coastal lifestyle paired with top-tier education. Schedule your viewing today and make this your new Florida dream home!
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Our Executive Mortgage Banker:
Our Insurance Division:
$800,000
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 | $640,000 | $640,000 | $640,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 7.125% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.867% | 7.282% | 6.623% |
Monthly Tax Payment | $559 | $559 | $559 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,312 | $4,312 | $5,531 |
Total Monthly Payment | $4,963 | $4,963 | $6,182 |
* 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.