Enjoy a relaxed Florida lifestyle in this one-of-a-kind South Gate Ridge home, a well-maintained lakefront property, with original mid-century details. Whether you're seeking a peaceful retreat or timeless Sarasota classic architecture, this Ruth Richmond home offers the best of both worlds and is located on Lake Thomas in the heart of Sarasota. This spacious, open concept floor plan is move-in ready and includes a vaulted ceiling in the spacious sunroom which is perfect for an in-home office or den. Featuring concrete block construction with an attached oversized one-car garage, this home located in flood zone X, is built to stand the test of time. The private primary suite, also overlooking the lake, includes a large walk-in closet and en-suite bathroom with walk-in shower. Relax with your morning coffee while in your breakfast room watching the numerous species of birds and wildlife. From the screened-in lanai, step into the spacious backyard with tropical landscaping along 76 feet of lakefront, featuring specimen plants, banana trees, and Florida cherry bushes while overlooking the serene lake or fishing from your own private dock - perfect for the nature lover and bird watcher's dream. Additional features include underground utilities, re-piped water lines and relined sewer lines, 2024 hurricane rated garage door and 2025 hot water heater. South Gate Ridge is a great Community with Friendly long-term neighbors within walking or biking distance to Publix, Home Goods, shopping and the Legacy Trail. Conveniently located and just minutes to the famous white Sandy Beaches of Siesta Key. Don’t miss your chance to own a piece of Sarasota’s history—schedule a showing today!
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $343,200 | $343,200 | $343,200 |
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 | 7.204% | 7.159% | 6.256% |
Monthly Tax Payment | $296 | $296 | $296 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,255 | $2,281 | $2,894 |
Total Monthly Payment | $2,626 | $2,652 | $3,265 |
* 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.