DEEDED BEACH ACCESS -Turn -key condo with good rental history. Take the elevator and discover this 3rd floor, 2-bedroom, 2-bathroom condominium located in Longboat Arms, a well-maintained community on Longboat Key, Florida. Enjoy beautiful sunrise views over the intercoastal waterway, bayfront scenery on the front veranda, and experience the expansiveness of the open floor plan with its 9 ft. ceilings that maximize the natural light throughout. This condominium is great for entertaining, with a separate breakfast room and a dining area off the kitchen and great room. The primary suite is oversized and boasts a large walk-in closet and en-suite bathroom. The split floor plan offers privacy for owners and their guests alike. This condominium has an in-unit washer and dryer, as well as added storage throughout. Added improvements inside include a new AC in 2023 and laminate flooring in 2021. Residents will enjoy access to the private boat ramp, which is excellent for kayaks, paddle boards, jet skis, and various watercraft. Boat docks are available first come, first served for an annual fee, providing convenient access to the water for boating enthusiasts. Longboat Arms is a community that has great amenities, including an upgraded heated swimming pool, clubhouse, tennis court, community grill area, and deeded beach access directly across Gulf of Mexico Drive. To ensure long-term stability for residents to enjoy the waterfront more thoroughly, the construction of a new seawall has improved the northeast point and boat dock area. Under the association's responsibility, the roofs were replaced in 2017, and the exterior painting was completed in 2020. Longboat Arms has ample guest parking and assigned oversized carports that can accommodate boat storage. This condominium also has excellent seasonal rental history and can continue if the new owner so chooses. Schedule your tour today to see this gem for yourself.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $439,600 | $439,600 | $439,600 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 7.125% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.474% | 7.282% | 6.412 |
Monthly Tax Payment | $475 | $475 | $475 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,036 | $2,962 | $3,739 |
Total Monthly Payment | $3,603 | $3,529 | $4,306 |
* 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.