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$1,180,000

Beds
2
Baths
2.0
sq ft
1,184

5201 Gulf of Mexico Dr Unit 104, Longboat Key, FL 34228

5201 Gulf of Mexico Dr Unit 104

LONGBOAT KEY, FL 34228

  • 66 days on market
    • Price drop $10,000↓
Discover the ultimate vacation retreat at 5201 Gulf of Mexico Drive, Unit 104, a fully renovated, turn-key 2 bedroom, 2 bath condo in a boutique complex of just eight units on Longboat Key. Spectacular Gulf of Mexico views from the great room and primary bedroom, this first-floor unit features upgraded hurricane-impact sliders, new flooring, retextured ceilings, and elegant wood bifold doors. The updated kitchen offers water views, new light fixtures, and modern finishes, while both baths shine with new showers, countertops, and cabinets. Recent enhancements include re-piping, a new air handler, new deck off the great room, re-surfaced pool, and a fresh coat of paint throughout. Sold fully furnished, the condo is move-in ready with a new living room couch and chair. Enjoy private beach access, a community pool, and ample parking, all with easy access to St. Armands and downtown Sarasota’s shopping and dining. With its stunning location and luxurious upgrades, this condo is a must-see—schedule your showing today!

Details

Property type

Condominium

Est. home value

$1,082,879

Lot size

Unknown

Price per sq ft

$997

Year built

1980

Annual property taxes

$10,916.3

HOA

Yes

Price History

01/17/2025
StellarMLS

StellarMLS #A4629489

Price change
$1,180,000
-0.84%
11/17/2024
StellarMLS

StellarMLS #A4629489

Listed
$1,190,000
+9.17%
10/18/2023
StellarMLS

StellarMLS #A4578953

Sold
$1,090,000
+112.48%

Schools & Community

Elementary school: 

Anna Maria Elementary

Middle school: 

Martha B. King Middle

High school: 

Bayshore High

Community features: 

Pool

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$224,288
Asking price
$1,180,000
Closing costs (~8% of asking)
-$94,400
Est. remaining loan balance
-$861,312
Cash to seller
$224,288

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Lendsure Mortgage Corp

Loan start date

October 2023

Original loan amount

$872,000

Est. remaining balance

$861,312

Interest rate

7.23%

Loan type

New Conventional, 30 year

Seller

Falin Mcmellon

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 01/22/2025 at 7:55 AM

Listing updated: 01/21/2025 at 11:15 AM

Listed by: Joey Lamielle, RE/MAX ALLIANCE GROUP Phone #: (941) 954-5454

MLS: StellarMLS #A4629489

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