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Looking for a vacation home that also produces income? This one is for you! A charming updated GROUND floor condo featuring 2 rentable bedrooms and 1 bathroom making this the LOWEST priced unit in the Bay Oaks complex. This unit comes completely furnished, allows short term 1 WEEK RENTALS and already has a high rating and excellent cash flow with VRBO #911238. The condo is equipped with a full kitchen and reserved covered parking, a water view from the lanai and is located in beautiful Siesta Key, Florida. This particular unit is located about 30 feet from the intracoastal waterway, so soak up pristine gulf views right from your own lanai! It is also a stone's throw away from the community's heated pool. The unit was refreshed with an updated bathroom, kitchen, lanai tile and added insulation for efficiency and sound dampening. The Bay Oaks community amenities include a heated pool, tennis court, dock on the bay, fishing pier, community barbecue grill, community billiard room, 1 parking space (and access to additional visitor space) and all common area and outdoor maintenance. Internet, water, and trash are also included in the fee. The community is on the Siesta Key trolley line with a stop right out front. Located near the vibrant Sarasota nightlife, upscale shops and dining options, there's always something to explore. Did I mention Siesta Key was named #1 beach in AMERICA and 4th in the WORLD? Its nearly 99% quartz-crystal powdered sand, dubbed the “world’s finest, whitest sand”, never gets hot under the Gulf Coast sun and tropical weather. The 2016 $20 million-dollar renovation added a new playground, two concession stands, more restrooms, a half-mile long esplanade, many shelters and pavilions, and a renovated Sarasota School of Architecture pavilion. With 950 free parking spaces, this venue provides the most parking for any public beach in Sarasota County. You will want to check this out for yourself. Book a week vacation and explore before you buy or book a single showing. Either way, you won't be disappointed.
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Our Executive Mortgage Banker:
Our Insurance Division:
$350,000
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
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $280,000 | $280,000 | $280,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.474% | 6.640% | 5.972% |
| Monthly Tax Payment | $321 | $321 | $321 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,724 | $1,768 | $2,325 |
| Total Monthly Payment | $2,120 | $2,164 | $2,721 |
* 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.