tomo logo

$1,499,000

Beds
3
Baths
3.0
sq ft
1,820

8446 Midnight Pass Rd, Sarasota, FL 34242

8446 Midnight Pass Rd

SARASOTA, FL 34242

  • 3 days on market
WATERFRONT & NO HOA Welcome to an exceptional opportunity on Siesta Key! Located just one mile from Turtle Beach, this property offers privacy, flexibility, and the serene beauty of Heron Lagoon. Spanning approximately 2 miles and covering 48 acres, Heron Lagoon is a peaceful, non-navigable body of water ideal for enjoying tranquil views, abundant wildlife, and stunning sunsets that rival those seen on nearby beaches. The lot is equipped with a built-in drainage system, providing an added layer of functionality and security for the property. The existing structure, which has experienced flood damage but has been professionally remediated, offers a clean slate for renovation or rebuilding. An updated FEMA appraisal has been completed, allowing for greater renovation costs, and a cost analysis on raising the structure has also been conducted, giving new owners valuable insights for future development. Current property, which has recently undergone remediation from flood damage, features include 300 ft.+ private driveway and fenced backyard with composite dock and plenty of room for a hot tub or pool. The back patio also features an electric awning and mature palms adding additional privacy. Interior features include impact sliding glass doors, windows, french doors, skylights (also with blinds,) electronic interior shades, and plantation shutters. With NO HOA, a rarity in Sarasota County, you have the freedom to customize the property to suit your needs. The home is conveniently located along the daily route of the free Siesta Key Trolley, providing effortless access to the island’s attractions. Additional highlights include a private driveway with extra parking pad, mature palm trees, a large lawn with ample space for multiple automobiles, an RV, or even a boat, and paver patios in both the front and backyard. A professional feasibility study completed in summer 2024 also highlights the potential to add a detached garage with an office and a pool, offering endless customization possibilities. Situated just 7 miles from downtown Sarasota and close to Gulf Gate’s shopping, dining, and entertainment, this property combines the tranquility of island living with the convenience of nearby urban amenities. Don’t miss this rare opportunity to create your dream home on beautiful Siesta Key. Contact us today for more information or to schedule a tour!

Details

Property type

Single Family Residence

Est. home value

$1,075,534

Property condition

Fixer

Lot size

0.38 acres

Price per sq ft

$824

Year built

1964

Annual property taxes

$10,232.28

HOA

No

Price History

01/04/2025
StellarMLS

StellarMLS #A4634350

Listed
$1,499,000
+172.29%
06/28/2017
StellarMLS

StellarMLS #A4168971

Sold
$550,515

Schools & Community

Elementary school: 

Phillippi Shores Elementary

Middle school: 

Brookside Middle

High school: 

Sarasota High

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

$930,212
Asking price
$1,499,000
Closing costs (~8% of asking)
-$119,920
Est. remaining loan balance
-$448,868
Cash to seller
$930,212

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

Seller’s Loan History

Lender

Suncoast Cu

Loan start date

April 2020

Original loan amount

$498,000

Est. remaining balance

$448,868

Interest rate

3.29%

Loan type

New Conventional, 30 year

Seller

Julia Montei and Julia Montei

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?

Status: Active

Tomo last checked: 01/06/2025 at 7:10 PM

Listing updated: 01/05/2025 at 11:02 AM

Listed by: Julia Montei, COLDWELL BANKER REALTY Phone #: (941) 349-4411

MLS: StellarMLS #A4634350

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