Looking for a little slice of Florida paradise? Whether you’re here full-time or part-time, this lovely 1 BR/1 BA condo in the wonderful 55+ community of Bay Island is the one for you. Light and bright, with a peaceful water view from the bedroom, this 600 square-foot unit is move-in ready and waiting for its new owner. Walking in, this condo feels even bigger because the kitchen was opened up to the living room to create a more functional main living space. The kitchen features shaker-style cabinetry and a cozy eat-in area, perfect for a bistro table. The bathroom has been updated with a modern vanity and tiled walk-in shower. The bedroom is quite spacious and has a walk-in closet, plus access to the lanai - the perfect place to start your day or relax and unwind to end your day with sunset views. There’s no carpet in this unit, just ceramic tile flooring throughout. The upgraded windows and lanai sliding door are impact resistant, there’s an on-demand, tankless hot water heater (less than a year old), the HVAC was replaced in 2021, and this condo comes with a covered parking spot. If you want to move in with nothing more than your toothbrush, this unit can be sold fully furnished, or if you’d prefer your own styling, it can be sold unfurnished. Bay Island has many great community amenities including heated pools and spas, tiki area and grills, walking paths along the water, tennis and pickleball courts, shuffleboard, clubhouse with pool tables, table tennis and a gym. There are also many social activities in this 55+ community. Your monthly fee includes basic cable, internet, water, sewer, trash, 24-hour guard gate, flood insurance, exterior maintenance and landscaping, plus all the amenities. Bay Island is pet friendly – allowing up to two pets (only one can be a dog) with a maximum weight of 15 pounds. These condos also have some flexibility with rental restrictions, allowing a 30-day minimum rental up to three times per year. You can experience this condo in virtual reality – no special equipment needed – by going to: https: //my. matterport. com/show/?m=sbM6iSmxVvn&mls=1. Then make your appointment to see this great condo in person!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $181,200 | $181,200 | $181,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 5.990% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.470% | 6.161% | 5.248% |
Monthly Tax Payment | $246 | $246 | $246 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,101 | $1,085 | $1,432 |
Total Monthly Payment | $1,422 | $1,406 | $1,753 |
* 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.