This unit is high and dry! NO STORM DAMAGE!! HUGE PRICE REDUCTION!! GREAT RENTAL! 1 WEEK MINIMUM RENTAL. Investors, 1031 Exchange Investors! 1 Week Minimum Rental Condo with Fantastic Water Views of Boca Ciega Bay, and stunning sunrises, from this 4th floor oversized balcony! Sold fully furnished, Unit 402 is a 2 bed 1-1/2 bath, turn-key property ready for your family to own, enjoy, rent out, and build lasting memories in the heart of John’s Pass Village, sitting right on Madeira Beach! Vacationers return year-after-year to enjoy all this “Old Florida Village” has to offer and it’s vast array of family fun, food, pubs, shops, activities, fishing, water sports or just hanging out on the soft sandy beach in the beautiful Florida sun. John’s Pass is fun, beautiful and convenient! Unit 402 has a Caribbean decor, high quality porcelain flooring and tremendous views! Photo’s simply don’t show the beautiful water view you get from this 4th floor unit, you can see for miles. The HVAC, Fridge and dishwasher are only 18 months old! Madeira Norte is a WELL-RUN condominium with Low HOA fees. August of 2022 HOA completed a year-long, professionally contracted, painting and refurbishment of the exterior walls, porches, rails and corridors of the entire building…. It’s beautiful! They are currently replacing the roof, as scheduled, and will be replacing the elevators at the end of 2023 or early 2024. Both projects have been fully funded. This complex is well run and includes an on site Superintendent that keeps the place clean and comfortable for owners and guests. Unit 402 is currently being rented. They are filling up with ease and have renters on the books well into 2024. Rentals in this complex are highly desirable and the cash flow is excellent! Each unit gets one reserved parking spot and there are over 30 guest parking spots, which is a unique luxury on the beach! There is a heated pool and a gated entrance to the beach for your convenience. Grilling area, owner’s storage also available.
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Our Executive Mortgage Banker:
Our Insurance Division:
$699,999
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 | $559,999 | $559,999 | $559,999 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $519 | $519 | $519 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,820 | $3,722 | $4,723 |
Total Monthly Payment | $4,431 | $4,333 | $5,334 |
* 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.