Fantastic opportunity to live in Downtown Sarasota and enjoy rental income! This captivating property features a delightful Florida home alongside a detached cottage, perfect for guests, rental income, or as an in-law suite in the popular Laurel/Washington Park neighborhood. The main home features 1 bedroom and 1 bath, including a versatile Florida room that can serve as a second bedroom or an inviting sunlit retreat. There is a cozy den off the primary suite, providing a great spot for an office or additional storage. The guest cottage features a kitchen, bedroom, bathroom, living area and a large porch.
A standout feature of this property is its outdoor living spaces. The brick paver patio offers a tranquil setting for morning coffees or evening soirees, enveloped by tropical Florida landscaping that captures the essence of Sunshine State living. The apartment further impresses with abundant natural light, and its own private lanai, a quiet hideaway.
Significant upgrades include a metal roof installed in 2014, ensuring durability and peace of mind. New AC in cottage in 2018 and main house 2019. Impact exterior doors in 2021. New breaker panel box and new electrical interior wiring in 2021. Ample parking space in the front.
A vibrant lifestyle of Downtown Sarasota awaits. A short walk to downtown and the bayfront featuring a variety of shops, restaurants, and cultural attractions, making every day an adventure!
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Our Executive Mortgage Banker:
Our Insurance Division:
$599,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $479,200 | $479,200 | $479,200 |
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 | $618 | $618 | $618 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,269 | $3,185 | $4,041 |
Total Monthly Payment | $3,979 | $3,895 | $4,751 |
* 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.