Listed under appraised value for a quick sale. No water came into the building during the hurricanes. Where downtown meets the Bay this is an opportunity to get into the waterfront lifestyle for under a mil. This 2/2, 1555 sf condo has an open floor plan with split bedrooms and lots of storage. The AC was installed in 2019 and the tankless water heater in 2021. Condo on the Bay is direct waterfront, no one will ever build in front of you and block your view of the fabulous sunsets. It is situated on a 9-acre gated peninsula with 24 hr security and is convenient to downtown and the world class Bay Park next door. The kitchen has quartz countertops and lots of cabinetry, a breakfast bar and a double oven GE stove. The living/dining area opens up to your large lanai with floor to ceiling sliders. Either bedroom can be used as the primary. The west facing one has 2 twin Murphy beds, walkin closet plus 4 more closets and ensuite bath with 2 sinks and a walkin shower. The second bedroom has a large wall to wall closet and bath just outside the door. The condo was just painted and all the duct work cleaned. Condo on the Bay is in the middle of a planned exterior update including the roof, fitness centers and stucco painting and repair. The milestone report was good and is available for review. The many exterior amenities are in process of being updated as well due to some hurricane damage. Currently open for use is one pool, the tennis and pickleball courts. The property will have an almost total renovation by the time all the projects are done. Seller is paying for any and all assessments so you can just enjoy the new and improved Condo on the Bay. If you are looking for a place to dock your boat or kayak you can't ask for more convenience than walking out your door.
Within walking distance are many restaurants, concerts, parks, shopping, entertainment. Lido Beach is just 2 miles away, Siesta, 5 miles and the airport 4 miles. Looking to make friends? This is a very friendly place to live. There are organized social activities, happy hours, dining out, mahjong, water aerobics, walking groups, etc and get togethers for no reason. Your Hoa fee includes all utilities except electric. All pets must have either an emotional support letter or service animal documentation. Offers must include proof of funds or pre-approval.
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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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $760,000 | $760,000 | $760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.545% | 6.748% | 6.932% |
Monthly Tax Payment | $364 | $364 | $364 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,929 | $4,866 | $6,725 |
Total Monthly Payment | $5,385 | $5,322 | $7,181 |
* 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.