This ground floor two bedroom two bath is on the Bay of Sarasota, The condo received flood waters during Hurricane Helene with approximately 3 feet of water. The condo is currently undergoing moisture mitigation by Wrightway which is provided thru the assocations flood insurance. The insurance will cover replacing the walls/ insullation and doors once it is completely dried out, Addtionally the insurance wiill cover replacing the appliances and all cabinets that were impacted by the flood waters. Additionally work is being done on the clubhouse, pool, fitness center, tennis and the pickelball facitiies which were damaged during the hurricanes.
The unit has a new water tank and the air conditioning was replaced in 2018. All windows and doors were replaced in 2013 with hurricane proof windows and doors.
Addtionally the board had approved to replace the roof prior to the hurricanes and the seller will pay in full the special assessment in the amount of $13, 986.
This is an opportunity to redecorate this unit to your particular style and taste.
This unit has an excellent rental history and is a favorite for return guests. In 2023 this unit had rentals exceeding $60k.
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William Raveis Mortgage, LLC
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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 | $455,200 | $455,200 | $455,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.708% | 7.133% | 6.256% |
Monthly Tax Payment | $639 | $639 | $639 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,144 | $3,025 | $3,839 |
Total Monthly Payment | $3,875 | $3,756 | $4,570 |
* 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.