Bring your horses and your business! Located just North of 776 in Englewood, this unique property features two (2) homes and sits on over an acre of land which is zoned “Residential Estate” (RE2) allowing for a wide range of uses including accessory structures, limited agriculture and keeping of animals (please see the attached document from the Sarasota County Planning Department defining RESIDENTIAL ESTATE and permitted uses). The main home (front) has 1675 SqFt of heated/air-conditioned space and over a thousand SqFt of covered outdoor living space. There are 3 bedrooms and two full baths, an attached 2-car garage, a large covered lanai in the front and a wonderful covered outdoor living area in the back with a sitting area, a dining area and spa. To the rear is a new pool with sliding board and covered awning. Behind the main home is a 2 bed/1 bath home with 1040 SqFt of heated/air-conditioned space which is currently being used as a licensed salon. Both homes have new roofs and the front home has a new 5-ton A/C. The solar panels sell power back to FP&L keeping the monthly electric bills to a third of what they would be otherwise. The current owner is a contractor and has a shipping container (which is included with the purchase) in the rear converted into a workshop with water and electric. There is also a storage shed and lots of parking for vehicles, machinery and work vehicles. The adjacent lot (1 acre) to the left of the homes can also be purchased with the two homes. The property is surrounded by thousands of acres of land owned by the Englewood Water Management District to the North and the Myakka State Forest to the East with horse riding and hiking trails. Lots of possibilities and potential given the zoning and size of the land.
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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 | $556,000 | $556,000 | $556,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $194 | $194 | $194 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,699 | $3,695 | $4,767 |
Total Monthly Payment | $3,985 | $3,981 | $5,053 |
* 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.