DIRECT WATERFRONT OPPORTUNITY IN LONGBOAT KEY! Active flood claim and approximately $20, 000 in bookings in the first 3 months of 2025! Here's your rare chance to own a waterfront property with direct access to the Intercoastal Waterway and a private boat dock! Perfectly located for vacation rentals, this canal-front 1-bedroom, 1-bathroom end unit offers incredible potential for income, especially with high demand bookings from January to April. This property boasts 21 feet of water frontage, suitable for an elevator lift, a private dock, and a newly installed seawall (June 2021). Enjoy the Florida lifestyle with easy access to boating, kayaking, and fishing. Additional outdoor amenities include a paver patio with extended walking space on three sides and a convenient shed for extra storage. Inside, the unit has been recently upgraded with a new metal roof (2023), hurricane-resistant windows, a newly renovated bathroom featuring glass shower doors with a soap-scum resistant coating, and a sleek floating sink (2024). Plus, it offers the convenience of in-unit laundry and a new hot water heater (2024). Just steps away from a private beach access, kayak launch, and deeded beach entry. The property also has direct access to the scenic Joan M. Durante Park, with 32 acres of walking trails, gardens, recreational areas, and breathtaking Sarasota Bay views. Take a short walk to top-rated restaurants, shops, a deli, bike and kayak rentals, and more. Plus, you're just a short drive to St. Armands Circle and Anna Maria Island! This property comes with existing vacation rental bookings that must be honored by the new owner. Take advantage of the savings—this is the most economical waterfront poroperty you'll find in all of Longboat Key!
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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 | $225,600 | $225,600 | $225,600 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.582% | 7.171% | 6.518% |
Monthly Tax Payment | $368 | $368 | $368 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,539 | $1,499 | $1,934 |
Total Monthly Payment | $1,982 | $1,942 | $2,377 |
* 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.