|
An investment opportunity is already in place here, with this property operating as a multi-unit income producer in one of Sarasota's most consistently rented corridors near Ringling College and New College. Private, lockable bedrooms paired with shared common spaces give investors a turnkey setup, complete with an established rental configuration, proven occupancy appeal, and the option to keep the co-living format running or transition to a traditional long-term rental or primary residence. Inside, the home shows nicely with modern flooring, refreshed finishes, and an open, light-filled living area well suited to shared living. The kitchen offers crisp white cabinetry, stainless steel appliances, and hardwearing surfaces built to handle tenant turnover with ease. Updated bathrooms and smart room separation allow multiple occupants to live comfortably and privately under one roof. Freshly pressure washed and boasting updated landscaping, the exterior makes a clean first impression, while a covered front porch, fully fenced backyard, mature shade trees, a gravel seating area, and plenty of open yard give tenants inviting shared outdoor zones without adding upkeep. The location does much of the heavy lifting, sitting just minutes from Ringling College of Art & Design, New College of Florida, and downtown Sarasota, with Gulf beaches an easy drive away. Steady demand from students, creative professionals, and seasonal renters positions this property as a compelling long-term hold with built-in flexibility. **THIS PROPERTY QUALIFIES FOR A 1% LENDER INCENTIVE IF USING PREFERRED LENDER. INQUIRE FOR MORE DETAILS. **
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.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$275,000
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 | $220,000 | $220,000 | $220,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.500% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.424% | 6.650% | 5.972% |
| Monthly Tax Payment | $313 | $313 | $313 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,337 | $1,391 | $1,827 |
| Total Monthly Payment | $1,725 | $1,779 | $2,215 |
* 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.