5963 Midnight Pass ROAD, #344, Siesta Key, FL, 34242 | $599,000

Under contract-accepting backup offers. Palm Bay Resort - Siesta Key! An Absolute Investor's Paradise! Palm Bay Club is a Beach to Bay community featuring an exceptional on-site rental program with a rare 3-day minimum rental policy. This charming 2-bedroom, 2-bathroom condo on the third floor offers an elevator and a lovely outdoor porch. Experience tranquility with picturesque tropical courtyard views, just steps from both the beach and the bay.
This property is priced to sell and presents a designer's canvas for your creative and unique ideas. You'll adore the incredible amenities: relish breathtaking sunsets, enjoy leisurely beach walks, or host a BBQ cookout by the bayside near the Fishing Pier, Day Docks, heated pool, and custom hot tub while watching yachts and dolphins. Stay active in the fitness center or play tennis and pickleball with your family. There are two heated pools on the premises and secure gates with 24-hour security at Palm Bay.
Don’t let this opportunity slip away to enjoy both the beach and the bay while earning rental income. Your new investment is waiting for you. Start creating unforgettable memories with family and friends. Palm Bay Club is highly sought after by investors.
Conveniently located just minutes from shopping, dining, entertainment, golfing, biking along the Legacy Trail, exploring Siesta Key, boating, and experiencing the vibrant Arts and Culture of Downtown Sarasota.

Features

  • Elevator: Y
  • Heating: Central
  • Cooling: Central Air
  • Levels: 1
  • Amenities: Elevator(s), Fitness Center, Gated, Laundry, Maintenance, Pool, Security, Spa/Hot Tub, Tennis Court(s), Vehicle Restrictions
  • Rooms: 6
  • Bedrooms: 2
  • Baths: 2 full
  • Laundry: Same Floor As Condo Unit
  • Complex: PALM BAY CLUB II
  • Year Built: 1974
  • Common Charge: $3,322 Quarterly
  • Approx Sq. Feet: 1,000
  • Acreage: 2.37
  • Est. Taxes: $6,236
  • View: Park/Greenbelt
  • Pet Policy: No
  • Appliances: Dishwasher, Electric Water Heater, Microwave, Range, Refrigerator
  • MLS#: A4623560
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/A4623560/5963midnightpassroad_siestakey_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 11/2/2024 9:38:31 AM)
Listing courtesy of PEPPERTREE BAY REALTY INC   Phone: 941-914-3380

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NMLS Mortgage Loan Originator ID 16953

917.838.7300

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5963 Midnight Pass ROAD, #344, Siesta Key, FL, 34242

$599,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

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 $479,200 $479,200 $479,200
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.990% 5.990%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.551% 7.159% 6.276%
Monthly Tax Payment $520 $520 $520
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,188 $3,185 $4,041
Total Monthly Payment $3,800 $3,797 $4,653

* 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.  The Total Monthly Payment does not include the estimated HOA/Common Charge payment.