$895,000
$50K PRICE DROP

Island Reef 8779 Midnight Pass Rd Unit 406H Sarasota, FL 34242

Estimated payment $6,487/month

Total Views 2,696
2 Beds
2.5 Baths
1,768 Sq Ft
$506 Price per Sq Ft

Highlights

  • Waterfront Community
  • Fitness Center
  • 6.31 Acre Lot
  • Phillippi Shores Elementary School Rated A
  • Heated In Ground Pool
  • Clubhouse

About This Home

BEACH! BAY! ENJOY THE BAY VIEWS FROM THIS UPDATED REESIDENCE! IMPACT WINDOWS!! Kitchen with Granite countertop, stainless appliance, beverage refrigerator, two spacious bedrooms with private baths and walk-in closets. Powder room off foyer. Laundry in Residence. Turkey Furnished! Carport! Island Reef is a serene waterfront community, one of the few Gulf to Bay community that offers many desirable amenities including: Beach, Boat Docks (lifts allowed) two lit tennis courts, pickleball, 2 fitness rooms, Kayak Storage, Library, Billiards, game room, clubhouse, two heated pools and Gas Grills, PET FRIENDLY! Tropical Gardens add to the appeal of Island Reef and this wonderful community is close to two of Siesta Key’s popular restaurants. Complimentary trolley to Siesta Village for dining, shopping, ice cream, mini donuts, cute brunch spots and dancing and live music every night of the week!

Listing Agent

Marlene Marshall

MICHAEL SAUNDERS & COMPANY Brokerage Phone: 941-349-3444 License #3113521 Listed on: 05/23/2025

MICHAEL SAUNDERS & COMPANY

Co-Listing Agent

George Marshall

MICHAEL SAUNDERS & COMPANY Brokerage Phone: 941-349-3444 License #3033598

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $7,330

Year Built

  • Built in 1980

HOA Fees

  • $1,000 Monthly HOA Fees

Parking

  • 1 Carport Space

Home Design

  • Slab Foundation
  • Block Exterior

Interior Spaces

  • 1,768 Sq Ft Home
  • 1-Story Property
  • Sliding Doors
  • Combination Dining and Living Room
  • Storage Room
  • Inside Utility

Kitchen

  • Range with Range Hood
  • Microwave
  • Dishwasher

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Split Bedroom Floorplan
  • Walk-In Closet

Laundry

  • Laundry in unit
  • Dryer

Outdoor Features

  • Heated In Ground Pool
  • Exterior Lighting

Utilities

  • Central Heating and Cooling System
  • Thermostat
  • Electric Water Heater
  • Cable TV Available

Additional Features

  • Reclaimed Water Irrigation System
  • South Facing Home

Listing and Financial Details

Community Details

Overview

  • Association fees include common area taxes, pool, escrow reserves fund, maintenance structure, ground maintenance, management, pest control, private road, recreational facilities, trash, water
  • Island Reef Condominium Association / James Grazes Association, Phone Number (941) 346-0921
  • Island Reef Homeowners Association
  • High-Rise Condominium
  • Island Reef Community
  • Island Reef Ii Ph 1 2 & 3 Subdivision
  • The community has rules related to deed restrictions

Amenities

  • Clubhouse

Recreation

Pet Policy

  • Pets up to 30 lbs
  • Pet Size Limit
  • 1 Pet Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$7,330

Year Built

Built in 1980

Lot Details

0

HOA Fees

$1,000 per month

Listing Details

  • HOA Fee Includes: Common Area Taxes, Pool, Escrow Reserves Fund, Maintenance Structure, Maintenance Grounds, Management, Pest Control, Private Road, Recreational Facilities, Trash, Water
  • Property Type: Residential
  • Property Sub Type: Condominium
  • Construction Materials: Block
  • Fireplace: No
  • Living Area: 1768
  • Lot Size Acres: 6.31
  • New Construction: No
  • Year Built: 1980
  • Building Area Total: 1973
  • Lot Size Sq Ft: 274901
  • Directions to Property: 2 1/2 Miles south of Stickney Point on Midnight Pass. Turn left (EAST) in to Island Reef.
  • Status: Active
  • Co List Office Mls Id: MFR281502395
  • Co List Office Phone: 941-349-3444
  • Ownership: Condominium
  • Available for Lease YN: 1
  • Escrow City: Sarasota
  • Escrow Postal Code: 34242
  • Escrow State: FL
  • Escrow Street Name: Ocean Blvd
  • Escrow Street Number: 5100
  • Floor Number: 1
  • List Office Head Office Key Nume: 1046728
  • Minimum Lease: 1 Month
  • Number Of Pets: 1
  • RATIO Current Price By Calculate: 506.22
  • Unit Number YN: 0
  • Water Access YN: 0
  • Condo Fees Term: Monthly
  • Property Description: High Rise
  • MFR_InLawSuiteYN: 0
  • MFR_CommunityAssociationWaterFeatures: Intracoastal Waterway
  • Attribution Contact: 941-349-3444
  • Tax Year: 2024
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Flooring: Carpet, Tile
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Interior Amenities: Living Room/Dining Room Combo, Primary Bedroom Main Floor, Split Bedroom, Thermostat, Walk-In Closet(s)
  • Appliances Included: Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator
  • Foundation Details: Slab
  • Total Bedrooms: 2
  • Levels: One
  • Stories: 1
  • Street Number Modifier: 8779
  • Additional Rooms: Inside Utility,Storage Rooms
  • Living Area Meters: 164.25
  • Room Count: 3

Exterior Features

  • Direction Faces: South
  • Pool Features: Heated, In Ground
  • Exterior Features: Lighting, Sliding Doors
  • Roof: Other
  • Pool Private: No
  • Waterfront: No
  • Road Surface Type: Asphalt
  • Water Extras YN: 0
  • Water View YN: 0
  • Waterfront Feet Total: 0

Garage/Parking

  • Carport Spaces: 1
  • Carport Y N: Yes
  • Garage Yn: No

Utilities

  • Utilities: Cable Connected, Electricity Connected
  • Cooling: Central Air
  • Heating: Central, Electric
  • Laundry Features: Electric Dryer Hookup, Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Buyer Approval Required, Clubhouse, Deed Restrictions, Fitness Center, Irrigation-Reclaimed Water, Pool, Sidewalks, Tennis Court(s)
  • Association Name: Island Reef Condominium Association / James Grazes
  • Phone: 941-346-0921
  • Association: Yes
  • Senior Community: No
  • Association: Island Reef Homeowners Association
  • Association 2 YN: 1
  • Association Approval Required YN: 1
  • Pet Restrictions: One Dog or Cat - 30lbs weight limit.
  • Association Fee Requirement: None
  • Building Name Number: 1
  • Condo Fees: 1000
  • Condo Land Included YN: 0
  • Max Pet Weight: 30
  • Montly Maint Amt Addition To HOA: 0
  • Association Email: mgr@islandreef.net
  • Monthly Condo Fee Amount: 1000
  • Pet Size: Small (16-35 Lbs.)

Fee Information

  • Total Annual Fees: 12000.00
  • Total Monthly Fees: 1000.00

Lot Info

  • Zoning: RMF1
  • Parcel Number: 0129081086
  • Additional Parcels: No
  • Flood Zone Code: AE
  • Homestead YN: 0
  • Lot Size Square Meters: 25539

Rental Info

  • Pets Allowed: Number Limit, Size Limit, Yes
  • Lease Restrictions YN: 1
  • Additional Lease Restrictions: Refer to Condo docs for lease restrictions.

Tax Info

  • Tax Annual Amount: 7330.32
  • Tax Book Number: 11-34
  • Tax Lot: 0

Multi Family

  • Approval Process: Refer to Condo docs for approval process.

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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
2024 $7,091 $619,857 -- --
2023 $7,091 $601,803 $0 $0
2022 $6,949 $584,275 $0 $0
2021 $6,290 $510,752 $0 $0
2020 $6,320 $503,700 $0 $503,700
2019 $6,458 $519,081 $0 $0
2018 $6,329 $509,402 $0 $0
2017 $6,303 $498,925 $0 $0
2016 $6,966 $563,200 $0 $563,200
2015 $7,097 $536,400 $0 $536,400
2014 $5,713 $424,000 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/09/2025 07/09/25 Price Changed $895,000 -5.3% $506 / Sq Ft
05/23/2025 05/23/25 For Sale $945,000 -- $535 / Sq Ft
Source: Stellar MLS

Purchase History

Date Type Sale Price Title Company
Warranty Deed $705,000 Attorney
Warranty Deed $770,000 Riddell Title & Escrow Llc
Warranty Deed $770,000 Riddell Title & Escrow Llc
Warranty Deed $650,000 Attorney
Warranty Deed $650,000 --
Warranty Deed $375,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $150,000 Commercial
Previous Owner $100,000 Credit Line Revolving
Previous Owner $450,000 No Value Available
Previous Owner $150,000 Credit Line Revolving
Previous Owner $300,000 No Value Available
Source: Public Records

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Source: Stellar MLS

MLS Number: A4643480

Stellar MLS

APN: 0129-08-1086