WATERFRONT PROPERTY WITH NEWER 174 FOOT SEA WALL. Property is located on Whitaker Bayou, one block from the Ringling School of Art and Design. Situated at the end of a private cul-de-sac on a spacious lot, this property offers a two-bedroom, one-bathroom bungalow and a separate one-bedroom, one-bathroom guesthouse. The main home spans 1, 308 square feet and features an open floor plan, a newer metal roof, and a wrap around deck. Additionally, it boasts a composite dock with water and electric connections, and a separate 10, 000 lb. boat lift. The guesthouse encompasses 816 square feet and offers an open floor plan, newer a metal roof, and a separate laundry room. Enjoy the sand and your own mini beach along the water. The property is ideal for accommodating extended family or generating income through rental opportunities. This is a rare opportunity at this price to have water access coupled with the location of the property so convenient to the Ringling School of Art, minutes from downtown Sarasota, the airport, one bridge to the bay by boat and Sarasota's beautiful beaches. This gem won't last long, book a showing today! This is an as is contract and is ready for a contractor, an investor, or perfect for a personal home with options. Please note the homes are now the yellow and turquois colors and presently are stripped down to the studs. These cottages can be easily rehabbed to your liking - the true value is the land and property is priced as such. NOW ready for new owner to make it their own or a contractor's dream.
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William Raveis Real Estate
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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 | $519,200 | $519,200 | $519,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | $421 | $421 | $421 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,498 | $3,451 | $4,379 |
Total Monthly Payment | $4,011 | $3,964 | $4,892 |
* 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.