This wonderfully remodeled home may be the best value on the water in the entire Tampa Bay area. It is 5 minute boat ride to the bay with no bridges, 15 minutes to Tampa international airport and 20 minutes to downtown Tampa. Square footage: 1830 Sq. Ft.; Total Bedrooms: 3; Total Baths: 2.5. Flooring: Ceramic Tile and Oak hardwood (not laminate); Master bath: 6 ft Kohler bath, glass block, walk in closet; Kitchen: Granite counter tops, maple cabinets, Stainless steel appliances; Additional baths: All new bathroom plus new pool bath and shower.
Fractional Ownership Details:
Cost – $540,000 and Quarter fraction of title value – $135,000; Existing mortgage – $400,000 and Quarter of mortgage liability – $100,000; Equity in property – $140,000 and Out of pocket funds for equity – $35,000; Total owners – 4, existing owner plus 3 new owners; Use of property – 3 months of the year.
Total out of pocket expense at closing $35,000 plus closing costs (Title Insurance and state fees. Total will be approximately $37,000. Existing owner is going to propose a $3000 contribution making the purchase $40,000. $3000 from each owner will be used to furnish the home.) Monthly obligations per owner after closing – $988. All amounts in US dollars.