Under contract-accepting backup offers. Welcome to the elegant, newly built Madeira Bay Resort with gorgeous views of the Gulf of Mexico! Nestled on the the intracoastal waterway just steps away from the beach, with adjoining marina, water views on multiple sides, and just a short stroll to the ever-popular restaurants, shops, and activities of John's Pass Village & Boardwalk. Step inside this turn-key 2 bedroom 2 bathroom condo to admire the high ceilings, contemporary styling, wonderful lighting, and ceramic tile flooring throughout. This unit comes fully furnished, including all décor, a fully stocked kitchen, and beach supplies. Come and enjoy your personal slice of paradise as you watch the sunset from your balcony, relax and enjoy the pool and hot tub, or take the boat out for a cruise! While you're not using it, let the condo pay for itself and more. There is no minimum rental period and there are many rental reservations already on the books. You can keep the same rental management for a smooth transition, manage yourself, or choose your own manager. Revenue from rentals was $76, 100 in 2022 and $76, 400 for 2023. Low condo fees. This is a rare, truly turn-key VACATION DREAM AND INVESTMENT!
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
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Our Executive Mortgage Banker:
Our Insurance Division:
$625,000
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 | $500,000 | $500,000 | $500,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.159% | 6.286% |
Monthly Tax Payment | $596 | $596 | $596 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,411 | $3,323 | $4,219 |
Total Monthly Payment | $4,099 | $4,011 | $4,907 |
* 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.