Discover this charming 2-bedroom, 2-bathroom villa located in the highly desirable Admiralty Villas community on Manasota Key in Englewood, Florida. Offering a rare chance to create your dream coastal retreat, this property comes with a unique history and a promising future.
**Property Highlights: **
- **2 Bedrooms, 2 Bathrooms**: Spacious layout ready for your custom renovations.
- **Prime Location**: Admiralty Villas is a coveted community offering private beach access, a heated pool, and beautifully maintained grounds.
- **Hurricane Remediation Completed**: Following damage from Hurricanes Helene and Milton, all necessary tear-outs and clean-up have been professionally handled, including removing bottom cabinets, sheetrock up to 4 feet, doors, frames, and vanities.
**Additional Information: **
- **Proactive Sellers**: After Hurricane Ian, sellers handled their own renovations, signed waivers, and were reimbursed the maximum amount based on what was received from insurance proceeds to bring the unit back to its original form before the storm This process highlights the flexibility and support offered in similar scenarios.
- **Insurance Benefits for New Owners**: - All insurance payouts related to Helene and Milton will be issued to the HOA. Once all units have been assessed by the insurance company, the funds will be available for each unit that received damage. That amount will be determined by the insurance company. EXAMPLE: If insurance estimated $80, 000 in damages/repairs, the HOA will issue $80, 000 to the owner.
- **Community Commitment**: Sellers have paid the $2, 000 assessment following Ian, and professional teams have ensured thorough remediation for both recent hurricanes.
This villa presents an exceptional opportunity for buyers looking to customize a home in paradise. Enjoy the chance to transform this space into your own sanctuary while benefiting from insurance proceeds and the groundwork already laid for restoration.
Seize this opportunity to own in a premier Gulf-front community and create the Florida retreat of your dreams!
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Our Executive Mortgage Banker:
Our Insurance Division:
$525,000
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 | $420,000 | $420,000 | $420,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.425% | 7.146% | 6.276% |
Monthly Tax Payment | $92 | $92 | $92 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,759 | $2,791 | $3,542 |
Total Monthly Payment | $2,943 | $2,975 | $3,726 |
* 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.