Waterfront Opportunity. Nestled in the heart of the exclusive Cherokee Park, this charming Old Florida traditional home offers a rare opportunity to own a piece of Sarasota's history. With 100 feet of street frontage and an additional 100 feet of serene waterfront, this property is a hidden gem waiting for your personal touch. This classic home boasts timeless architecture, exuding character and charm from every corner. While it needs renovation, the potential is endless—perfect for those looking to restore or reimagine a historic treasure. The property is located in a secluded neighborhood, offering privacy and tranquility, all while being just minutes from downtown Sarasota. A new standing seam metal roof alongside a newly installed seawall adds to the property's value, providing peace of mind and ensuring the integrity of the waterfront for years to come. Whether you envision a luxurious modern update or a faithful restoration, this home is a canvas ready for your vision. Don't miss this unique chance to create your dream waterfront retreat in one of Sarasota's most sought-after neighborhoods.
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Our Executive Mortgage Banker:
Our Insurance Division:
$5,490,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $4,392,000 | $4,392,000 | $4,392,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.750% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.406% | 6.864% | 7.058% |
Monthly Tax Payment | $3,159 | $3,159 | $3,159 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $28,486 | $28,486 | $38,865 |
Total Monthly Payment | $31,770 | $31,770 | $42,149 |
* 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.