Under contract-accepting backup offers. This house did not flood during the hurricanes but needs a complete renovation and roof. This would make a great property to flip or for a handyman to renovate. Discover a rare opportunity in the heart of Forest Lakes Country Club, Sarasota. This 3-bedroom, 2-bathroom home is set on nearly half an acre, offering immense potential for those with a vision. Though the property requires extensive renovations, the generous lot size and established community present a promising foundation for a dream home.
Forest Lakes Country Club is known for its mature landscapes and serene atmosphere, ideal for those seeking a peaceful retreat. Just minutes from the vibrant downtown Sarasota area, you’ll enjoy a variety of entertainment options, from fine dining and boutique shopping to cultural attractions like the Sarasota Opera and Ringling Museum. Nearby, Siesta Key Beach offers world-renowned white sands and breathtaking sunsets, perfect for a quick getaway.
This property is priced to reflect its current condition, offering a remarkable investment opportunity in one of Sarasota’s most desirable locations. Whether you’re looking to create a personalized masterpiece or seeking a renovation project with significant potential, this home is a canvas awaiting transformation.
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Our Executive Mortgage Banker:
Our Insurance Division:
$499,999
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 | $399,999 | $399,999 | $399,999 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.191% | 7.159% | 6.392% |
Monthly Tax Payment | $52 | $52 | $52 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,628 | $2,659 | $3,402 |
Total Monthly Payment | $2,755 | $2,786 | $3,529 |
* 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.