5961 Midnight Pass ROAD, #306, Siesta Key, FL, 34242 | $750,000

Your island retreat is here! This bayside two bedroom, two bathroom walkout unit at the Palm Bay Club on Siesta Key offers the ideal island lifestyle with incredible investment potential. Oversized tile is the clean, low maintenance foundation to this charming, coastal inspired abode that provides respite between your sandy Siesta adventures. A generous kitchen features neutral, wood toned cabinets topped with attractive granite counters that shine under the updated recessed lighting with crown molding accents. Serve your inspired cuisine to family and guests at the convenient bar height seating or at your nearby dining area spacious enough to accommodate six. A comfortable living area is the perfect spot to kick up your feet and recharge, while admiring the attractive grounds through the glass sliding doors with access to the patio. A cozy guest room is light and bright with two full sized beds and an eye-catching ceiling fan providing charm, light and a comfortable breeze. Recharge in the ample primary suite with a 4 piece en-suite bath, spacious storage and sliders to the patio. Follow the paver path shaded by the stately palm trees to Palm Bay Club’s bayside pool, hot tub, gas grills with dining area, and fishing pier overlooking the intracoastal waterway, a playground to manatees, dolphins, and unique bird species. A true beach to bay community, your access to the impressive Palm Bay Club amenities is unlimited and includes: private Crescent Beach access, two heated swimming pools, hot tub, complimentary fitness center, lighted tennis courts with pickleball, boat docks (daily rental, 21 ft max), BBQ grills, and fishing pier. Make Siesta Key your home away from home for a week, a season or year-round! An excellent opportunity for the owner/investor, offset the cost of ownership with a smart, three-night minimum rental requirement and the outstanding onsite rental services!

Features

  • Heating: Central, Electric
  • Cooling: Central Air
  • Levels: 1
  • Amenities: Cable TV, Elevator(s), Fitness Center, Gated, Maintenance, Pickleball Court(s), Pool, Security, Storage, Tennis Court(s)
  • Rooms: 4
  • Bedrooms: 2
  • Baths: 2 full
  • Laundry: Common Area
  • Complex: PALM BAY CLUB II
  • Year Built: 1974
  • Common Charge: $3,341 Quarterly
  • Approx Sq. Feet: 1,100
  • Acreage: 2.37
  • Est. Taxes: $6,159
  • Pet Policy: No
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Freezer, Microwave, Refrigerator
  • MLS#: A4627385
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/A4627385/5961midnightpassroad_siestakey_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 11/5/2024 11:42:55 PM)
Listing courtesy of MICHAEL SAUNDERS & COMPANY   Phone: 941-349-3444

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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

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5961 Midnight Pass ROAD, #306, Siesta Key, FL, 34242

$750,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

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 $600,000 $600,000 $600,000
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.990% 5.990%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.563% 7.159% 6.276%
Monthly Tax Payment $513 $513 $513
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,992 $3,988 $5,060
Total Monthly Payment $4,597 $4,593 $5,665

* 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.