This two-bedroom, two bathroom 1, 192 square foot unit with its 120 square foot covered and open balcony overlooking Sarasota Bay is now available for sale. The over fifteen year owners are selling the unit turnkey-furnished, and have left many pieces of art. The building has a ground level lobby and indoor parking. This unit is 3 floors above the ground floor and has views from the front door and breezeway overlooking Fairway Bay’s lovely landscaping. The apartment is a midrise unit in the M-2 building of Fairway Bay. It has a new hot water heater installed in 2024, a new HVAC system installed in 2022 with the ultra-violet protection system, a new washing machine installed in 2021, and updated bathroom fixtures throughout installed in 2022. The roofing system was recoated in 2022. There are bay views from the living room and the primary bedroom. The second guest bedroom is being used as an office/library. The laundry is in the kitchen in a closet and there is a community storage closet at the end of the breezeway on the same floor. This unit has one assigned end parking space PC-208 under the building, and there is ample room at the front end of the parking space for bicycle, kayak, canoe or even more extra storage cabinets. FPL is the electrical utility and charges average $125 a month over the year. The Fairway Bay Association provides basic Comcast cable service. The insurance policy on the interior of the unit has an annual cost of just over $3000. This unit is unoccupied, in move-in condition, easy to see and ready for its new owners. Of the ten units currently for sale in Fairway Bay, this is the least expensive on the market.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $499,000 | $499,000 | $499,000 |
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 | 7.191% | 7.171% | 6.276% |
Monthly Tax Payment | $290 | $290 | $290 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,278 | $3,317 | $4,208 |
Total Monthly Payment | $3,660 | $3,699 | $4,590 |
* 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.