NOT LISTED FOR SALE

503 Forest Way Unit 5 Longboat Key, FL 34228

Estimated Value: $581,000 - $630,000

2 Beds
2.5 Baths
1,440 Sq Ft
2.11 Acres

Last Sold April 01, 2021

Last sale price $389,000 $270 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $3,901/month

1 Day on Market

Highlights

  • Fitness Center
  • Heated In Ground Pool
  • 2.11 Acre Lot
  • Anna Maria Elementary School Rated A-
  • Fishing
  • Florida Architecture

About This Home

As of April 2021

First Showing Appointments will be: Saturday, March 20th, 12:00 noon to 3:00 pm. During the tenant departure and arrival. This light and bright open-plan townhome features new, high-impact thermal windows and new Hardie Plank siding. 2 bedroom, 2 +1/2 bath turn-key furnished. New roof 2014. Investor Alert! Reservations booked with best vacation rental investment on Longboat Key. Lease 26 times per year with the lowest condo fees on the Key. On-site Management, high-demand, high-income vacation rentals already in-place. Stroll along the beach, kayak on the Bay, fish at your dock, swim long laps in the heated, Jr. Olympic-size swimming pool. A pet-friendly community with free bike sharing and 66 acres of nature trails. The over-sized garage has room for a car and kayaks, beach gear, surfboards, fishing tackle and all the toys. Join-in-the-fun at the vibrant Tiki Bar and Cafe! Cedars Tennis Resort. 10 tennis courts, full time tennis-pro, planned events & pro shop. The beach, free bike sign-outs, nature-trails, fishing dock, day dock, picnic area and heated swimming pool are all included.

Last Agent to Sell the Property

Debra Lichter

SARASOTA BEACH TO BAY INC License #3235801 Listed on: 03/17/2021

Last Buyer's Agent

Debra Lichter

SARASOTA BEACH TO BAY INC License #3235801 Listed on: 03/17/2021

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,517

Year Built

  • Built in 1990

Lot Details

  • West Facing Home
  • Landscaped with Trees

Parking

  • 2 Car Attached Garage
  • Tandem Parking
  • Garage Door Opener
  • Driveway
  • Guest Parking

Home Design

  • Florida Architecture
  • Slab Foundation
  • Shingle Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • 1,440 Sq Ft Home
  • 2-Story Property
  • Furnished
  • High Ceiling
  • Ceiling Fan
  • Blinds
  • Great Room
  • Combination Dining and Living Room
  • Ceramic Tile Flooring
  • Garden Views

Kitchen

  • Dishwasher
  • Stone Countertops
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Split Bedroom Floorplan

Laundry

  • Laundry on upper level
  • Dryer

Home Security

Pool

  • Heated In Ground Pool
  • Gunite Pool
  • Spa
  • Child Gate Fence

Outdoor Features

  • Balcony
  • Enclosed Patio or Porch
  • Exterior Lighting

Schools

  • Anna Maria Elementary School
  • Martha B. King Middle School
  • Bayshore High School

Utilities

  • Central Air
  • Heating Available
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 5
  • Assessor Parcel Number 7927304555

Community Details

Overview

  • Property has a Home Owners Association
  • Association fees include cable TV, community pool, escrow reserves fund, insurance, maintenance exterior
  • Lighthouse Property Management Association, Phone Number (941) 312-5287
  • Cedars East Community
  • Cedars East Sec 2 Subdivision
  • The community has rules related to deed restrictions

Recreation

  • Tennis Courts
  • Fitness Center
  • Community Pool
  • Fishing

Pet Policy

  • Pets Allowed
  • Pets up to 35 lbs

Security

  • Fire and Smoke Detector
  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,517

Year Built

Built in 1990

Lot Details

0

Parking

2

Listing Details

  • HOA Fee Includes: Cable TV, Community Pool, Escrow Reserves Fund, Insurance, Maintenance Exterior
  • Property Type: Residential
  • Property Condition: Completed
  • Property Sub Type: Condominium
  • Architectural Style: Florida
  • Property Description: Elevated, End Unit
  • Construction Materials: Block, Stucco
  • Living Area: 1440.00
  • Lot Size Acres: 2.11
  • Year Built: 1990
  • Building Area Total: 2268.00
  • Down Payment Resource URL: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4494191?w=Agent&skip_sso=true
  • Down Payment Resource URL 2: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4494191?w=Customer
  • Lot Size Sq Ft: 91957
  • Building Search Sq Meters: 210.70
  • Down Payment Resource Assistance: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4494191?w=PubMLS
  • Directions to Property: Gulf of Mexico Drive. East on Companion Way, left at Forest Way, - 1 Block N. of Harry's
  • Escrow State: FL
  • List Office Head Office Key Nume: 1046660
  • Status: Sold
  • Tax Year: 2020
  • Special Features: None

Interior Features

  • Room Count: 3
  • Living Area Units: Square Feet
  • Additional Rooms: Great Room
  • Flooring: Ceramic Tile
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Interior Amenities: Ceiling Fans(s), High Ceiling(s), Living Room/Dining Room Combo, Split Bedroom, Stone Counters, Window Treatments
  • Appliances Included: Dishwasher, Disposal, Dryer, Electric Water Heater
  • Foundation Details: Slab
  • Total Bedrooms: 2
  • Floor Number: 1
  • Levels: Three Or More
  • Spa Yn: Yes
  • Stories: 2
  • Window Features: Blinds, Window Treatments
  • Living Area Meters: 133.78
  • Street Number Modifier: 503

Exterior Features

  • Direction Faces: West
  • Pool Features: Child Safety Fence, Gunite, Heated, In Ground
  • Exterior Features: Balcony, Lighting, Tennis Court(s)
  • Roof: Shingle
  • Flood Zone Code: AE
  • Pool Private: Yes
  • View: Garden
  • Patio and Porch Features: Enclosed, Screened
  • Road Surface Type: Asphalt

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 2
  • Garage Yn: Yes
  • Parking Features: Driveway, Garage Door Opener, Guest, Tandem

Utilities

  • Utilities: Cable Connected, Electricity Connected, Fire Hydrant, Sewer Connected, Water Connected
  • Cooling: Central Air
  • Heating: Electric
  • Laundry Features: Inside, Upper Floor
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • S W Subdiv Community Name: Cedars East
  • Community Features: Buyer Approval Required, Deed Restrictions, Fishing, Fitness, Pool, Tennis Courts
  • Pet Restrictions: Pet weight may be presented for approval if over 35 lbs.
  • Condo Fees: 1907
  • Condo Fees Term: Quarterly
  • Condo Land Included: Yes
  • Max Pet Weight: 35
  • Monthly Condo Fee Amount: 636
  • Pet Size: Small (16-35 Lbs.)
  • Association Fee Frequency: Quarterly
  • Association Fee Requirement: Required
  • Association Name: Lighthouse Property Management
  • Phone: 941-312-5287
  • Association: Yes
  • Security: Fire Alarm, Fire Sprinkler System

Fee Information

  • Total Annual Fees: 7628.00
  • Total Monthly Fees: 635.67

Schools

  • Elementary School: Anna Maria Elementary
  • Middle School: Martha B. King Middle
  • High School: Bayshore High
  • Elementary School: Anna Maria Elementary
  • High School: Bayshore High
  • Middle Or Junior School: Martha B. King Middle

Lot Info

  • Total Acreage: 2 to less than 5
  • Zoning: R3MX/PC
  • Parcel Number: 7927304555
  • Lot Features: Corner Lot
  • Lot Size Square Meters: 8543

Rental Info

  • Minimum Lease: 2 Weeks
  • Exist Lse Tenant: Yes
  • Additional Lease Restrictions: See Community By Laws
  • Furnished: Furnished
  • Lease Restrictions: Yes
  • Pets Allowed: Yes

Tax Info

  • Tax Annual Amount: 4517.33
  • Tax Book Number: 1279-1906
  • Tax Lot: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 6, 2024
Sold by
First Encounter Llc
Bought by
Panasci Anthony and Panasci Carolyn
Current Estimated Value
$603,714

Purchase Details

Listed on
Mar 17, 2021
Closed on
May 7, 2021
Sold by
Panasci Anthony and Panasci Carolyn
Bought by
First Encounter Llc
Seller's Agent
Debra Lichter
SARASOTA BEACH TO BAY INC
Buyer's Agent
Debra Lichter
SARASOTA BEACH TO BAY INC
List Price
$389,000
Sold Price
$389,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.12%

Purchase Details

Listed on
Mar 17, 2021
Closed on
Mar 31, 2021
Sold by
503 Forest Llc
Bought by
Panasci Carolyn and Panasci Anthony
Seller's Agent
Debra Lichter
SARASOTA BEACH TO BAY INC
Buyer's Agent
Debra Lichter
SARASOTA BEACH TO BAY INC
List Price
$389,000
Sold Price
$389,000

Purchase Details

Listed on
Nov 7, 2014
Closed on
Nov 3, 2015
Sold by
Weatherill Edward Lawrence P
Bought by
Trethewey Colin and Edwards Cynthia
Seller's Agent
Sandi Layfield
MICHAEL SAUNDERS & COMPANY
Buyer's Agent
Brooke O'Malley
CLUB REALTY
List Price
$229,000
Sold Price
$195,000
Premium/Discount to List
-$34,000
-14.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.62%

Purchase Details

Closed on
Dec 2, 1996
Sold by
W Coast Bk
Bought by
Weatherill Edward Lawrence Paul

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
7.83%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Panasci Anthony $100 None Listed On Document
Panasci Anthony $100 None Listed On Document
First Encounter Llc $100 None Listed On Document
Panasci Carolyn $389,000 Attorney
Trethewey Colin $195,000 Attorney
Weatherill Edward Lawrence Paul $147,400 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Weatherill Edward Lawrence Paul $60,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/01/2021 04/01/21 Sold $389,000 0.0% $270 / Sq Ft
03/18/2021 03/18/21 Pending -- -- --
03/17/2021 03/17/21 For Sale $389,000 +99.5% $270 / Sq Ft
08/17/2018 08/17/18 Off Market $195,000 -- --
11/03/2015 11/03/15 Sold $195,000 -14.8% $135 / Sq Ft View Prior Sale
09/05/2015 09/05/15 Pending -- -- --
09/01/2015 09/01/15 For Sale $229,000 0.0% $159 / Sq Ft
08/23/2015 08/23/15 Pending -- -- --
05/27/2015 05/27/15 For Sale $229,000 +17.4% $159 / Sq Ft
05/07/2015 05/07/15 Off Market $195,000 -- --
11/07/2014 11/07/14 For Sale $229,000 -- $159 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,514 $238,119 -- $238,119
2024 $8,514 $633,250 -- $633,250
2023 $8,005 $586,500 $0 $586,500
2022 $6,605 $414,750 $0 $414,750
2021 $4,832 $310,000 $0 $310,000
2020 $4,517 $265,000 $0 $265,000
2019 $4,329 $265,000 $0 $265,000
2018 $3,853 $220,000 $0 $0
2017 $3,507 $210,500 $0 $0
2016 $3,249 $187,900 $0 $0
2015 $2,654 $187,900 $0 $0
2014 $2,654 $158,106 $0 $0
2013 $2,561 $153,501 $1 $153,500
Source: Public Records

Agents Affiliated with this Home

  • Debra Lichter

    Seller's Agent in 2021

    Debra Lichter

    SARASOTA BEACH TO BAY INC

    (941) 350-7104

    59 in this area

    73 Total Sales

    Debra Lichter
    Section Image
  • Sandi Layfield

    Seller's Agent in 2015

    Sandi Layfield

    Michael Saunders

    (941) 914-2807

    25 in this area

    45 Total Sales

    Sandi Layfield
    Section Image

  • M

    Seller Co-Listing Agent in 2015

    Michael Nink, PA

    Michael Saunders

    (941) 383-7591

    32 in this area

    47 Total Sales

    Michael Nink, PA
    Section Image
  • Brooke O'Malley

    Buyer's Agent in 2015

    Brooke O'Malley

    CLUB REALTY

    (941) 726-2677

    6 in this area

    32 Total Sales

    Brooke O'Malley
    Section Image
See All Agents

Map

Source: Stellar MLS

MLS Number: A4494191

Stellar MLS

APN: 79273-0455-5

Florida Manatee County Longboat Key 34228

503 Forest Way Unit 5, Longboat Key, FL

This home is located at 503 Forest Way Unit 5, Longboat Key, FL 34228 since 17 March 2021 and is currently estimated at $603,714, approximately $419 per square foot. This property was built in 1990. 503 Forest Way Unit 5 is a home located in Manatee County with nearby schools including Anna Maria Elementary School, Martha B. King Middle School, and Bayshore High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Stellar MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.



Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393

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