Under contract-accepting backup offers. Back on the market! A rehab with exceptional opportunity! Turn this 825 sqft split plan, 2 bedroom, 2 bath, center open floor plan condo on the first floor into your perfect home! This unit has a great location, ground floor right by the main front entry out to Mirror Lake, but located on the inside so windows and unit look out at the quiet peaceful court yard. NEEDS a full makeover.
It’s well designed space inside. Entry door opens to kitchen on left, and continues to a nice living space with large windows looking out to the courtyard. Great company and entertaining space! Each side has it’s own bedroom and bath – with the second bedroom side also having a laundry closet.
The location can't be beat. Mirror Lake Condos are truly in the center of downtown. Mirror Lake, outside your front door is a delightful, picturesque walk in and of itself! Then, you are close to Beach Drive, the waterfront and the Pier. The Dali Museum, Mahaffey Theater, Museum of Fine Arts and two hospitals are all close by. Movie Theaters, The Palladium, waterfront concerts, art shows and festivals are all close by. South of Mirror Lake is First Avenue North where you can catch the Sun Runner rapid bus transit connecting downtown to St Pete Beach with stops between. You are close to the Edge District, and Grand Central! All without a car. . . Easy access by walking or biking or skateboarding, jogging, scooter - what’s your preferred mode of transportation?
It’s a pet friendly building (2 under 25lbs allowed), with a personal code or secure fob for entry, personal assigned parking, protected, peaceful interior courtyard with mail and package drop off. There’s a community laundromat and book exchange. The east side has a fenced, private heated community pool.
Milestone inspections for Mirror Lake are complete. No issues to address. The second condo fee is for the roof assessment. Runs until 2030. Can pay off early.
AGAIN, this is a rehab property. Empty for 2 years. No guarantee that any appliances work. But – the bones to the condo are great, and this is a neat opportunity to create a home in your own image!!! If you don't have cash, think about unlocking the potential of this property by utilizing a Renovation loan to purchase and renovate all with a single loan application. Yes – Purchase and Renovate with one loan! This is an awesome opportunity to live in the middle of downtown for an affordable price in a very cool building, for way less than most of the new nearby condo towers. We suggest reaching out to Scott Kravetz, a local Renovation Specialist Mortgage Consultant. He can explain the process and help determine if it’s a program that could work for you.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $208,000 | $208,000 | $208,000 |
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 | $429 | $429 | $429 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,419 | $1,382 | $1,754 |
Total Monthly Payment | $1,922 | $1,885 | $2,257 |
* 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.