Location, location, location! This is the only ground-floor villa unit currently for sale on the west side of Gulf of Mexico Drive. The Faine Apartments Condominium, Inc. (recently voted a name change to North End Villas) is located at 420 Firehouse Court, across Gulf of Mexico Drive, from the Village of Longboat Key and is a ten-unit complex of attached villas. The west building houses units seven through ten. The east building houses units one through six. Both buildings had new roofs installed in 2015 and all the pipes relined, except for the utility rooms in September of 2022. Between the two buildings is a grass area with a picket fence that is community property. Ten units total on the west side of Gulf of Mexico Drive, walking distance to the beach and the Gulf of Mexico, down Firehouse to Broadway Street or up Firehouse Court to North Shore Road. Broadway is the deeded beach access for the Village of Longboat Key with parking lots and a boardwalk over to the beach. This complex is a short walk, bicycle ride or drive to Whitney’s Restaurant, the Whitney Beach Shopping Plaza, Mar Vista Dockside & Pub, the newer Shore Restaurant, Beer Can Island, and Sarasota Bay for you boating and fishing enthusiasts.
This two-bedroom, two-bathroom villa with 1, 015 square feet of air-conditioned space is in original condition, with a newer roof, a newer HVAC system installed by Veteran Air in May of 2021, a newer hot water heater in November of 2021, a new toilet in the Master Bathroom, and a new Kitchen faucet with sprayer, all installed in July of 2023. The range and refrigerator in the Kitchen, age unknown, and both are in working condition. There is no dishwasher, microwave, or disposal. There is a screened front lanai with concrete flooring and the utility, mechanical, un-air-conditioned laundry room, with washer, dryer, and the hot water heater. The parking space is adjacent to the lanai.
This unit is vacant and on lockbox and easy to show. Come live walking distance to the beach.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $479,000 | $479,000 | $479,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 7.125% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 8.011% | 7.308% | 6.644% |
Monthly Tax Payment | $141 | $141 | $141 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,308 | $3,227 | $4,140 |
Total Monthly Payment | $3,541 | $3,460 | $4,373 |
* 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.