$50,000 Price Improvement — Now One of the Best Values on Siesta Key. At $535,000, this 1,700+ sq ft Island Reef condo is priced in line with nearby 1,300 sq ft units—creating a rare opportunity to own significantly more space without paying a premium. Located on the quieter south end of Siesta Key, this ground-floor residence overlooks Little Sarasota Bay and offers the kind of easy, coastal living that’s increasingly hard to find. The split-bedroom layout features two en suite bedrooms positioned on opposite sides of the condo, plus a half bath and a flexible space ideal for a small home office. Inside, the scale of the home stands out immediately—a massive living area, separate dining room, and an enclosed Florida room that captures peaceful bay and Intracoastal views. Natural light fills the space from morning through mid-day, while ceramic tile flooring throughout keeps maintenance simple and practical. The kitchen is equipped with butcher block countertops, abundant cabinetry, and a full-size layout that supports everyday living or extended stays. A full laundry room with standard-size washer and dryer adds to the convenience. What truly sets this unit apart is its ground-floor accessibility, generous square footage, and a strong track record of staying dry during past storms—an increasingly important consideration for waterfront buyers. Island Reef is a well-maintained, financially sound Gulf-to-Bay community with no upcoming assessments and on-site management. Residents enjoy deeded beach access just a short walk away, along with bayfront boat docks (with lift options), two heated pools, tennis and pickleball courts, fitness center, clubhouse, and an active social calendar. The free Siesta Key trolley stops right in front of the community, providing easy access to Siesta Village, dining, shopping, Turtle Beach, and nearby marinas. Offered turnkey furnished, this is a compelling opportunity for full-time living or seasonal enjoyment—especially for buyers who recognize value when they see it. Schedule your private showing today.
For sale
Price cut: $50K (3/28)
$535,000
8767 Midnight Pass Rd APT 101F, Sarasota, FL 34242
2beds
1,768sqft
Est.:
Condominium
Built in 1979
-- sqft lot
$555,700 Zestimate®
$303/sqft
$1,033/mo HOA
What's special
Bay-side boat docksHalf bathSmall home officePeaceful bay viewsOverlooking little sarasota bayAll-season florida roomGround-floor convenience
- 60 days |
- 771 |
- 27 |
Zillow last checked: 7 hours ago
Listing updated: March 28, 2026 at 10:35am
Listing Provided by:
Mike Payne, PA 941-928-8145,
BRIGHT REALTY 941-552-6036,
Zach Payne 941-444-1245,
BRIGHT REALTY
Source: Stellar MLS,MLS#: A4680015
Originating MLS: Sarasota - Manatee
Originating MLS: Sarasota - Manatee
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Primary bedroom
- Features: Walk-In Closet(s)
- Level: First
- Area: 192 Square Feet
- Dimensions: 16x12
Bedroom 2
- Features: Ceiling Fan(s), Walk-In Closet(s)
- Level: First
- Area: 252 Square Feet
- Dimensions: 21x12
Primary bathroom
- Features: Dual Sinks, En Suite Bathroom, Exhaust Fan, Shower No Tub, Stone Counters, Linen Closet
- Level: First
- Area: 132 Square Feet
- Dimensions: 11x12
Bathroom 2
- Features: Single Vanity, Stone Counters, Tub With Shower
- Level: First
- Area: 156 Square Feet
- Dimensions: 12x13
Bathroom 3
- Features: Exhaust Fan, Sink - Pedestal
- Level: First
- Area: 25 Square Feet
- Dimensions: 5x5
Dining room
- Level: First
- Area: 192 Square Feet
- Dimensions: 16x12
Florida room
- Level: First
- Area: 180 Square Feet
- Dimensions: 12x15
Kitchen
- Level: First
- Area: 135 Square Feet
- Dimensions: 15x9
Living room
- Features: Ceiling Fan(s)
- Level: First
- Area: 375 Square Feet
- Dimensions: 25x15
Office
- Level: First
- Area: 91 Square Feet
- Dimensions: 13x7
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
- Laundry: Electric Dryer Hookup, Inside
Features
- Ceiling Fan(s), Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Thermostat, Walk-In Closet(s)
- Flooring: Ceramic Tile
- Doors: Outdoor Grill, Outdoor Shower, Sliding Doors
- Windows: Window Treatments
- Has fireplace: No
- Furnished: Yes
Interior area
- Total structure area: 1,973
- Total interior livable area: 1,768 sqft
Property
Parking
- Total spaces: 1
- Parking features: Covered
- Carport spaces: 1
Features
- Levels: One
- Stories: 1
- Patio & porch: Covered, Enclosed, Screened
- Exterior features: Balcony, Irrigation System, Lighting, Outdoor Grill, Outdoor Shower, Private Mailbox, Rain Gutters, Tennis Court(s)
- Has view: Yes
- View description: Bay/Harbor - Partial, Intracoastal Waterway, Marina
- Has water view: Yes
- Water view: Bay/Harbor - Partial,Intracoastal Waterway,Marina
- Waterfront features: Bay/Harbor Front, Gulf/Ocean Front, Waterfront, Bay/Harbor, Beach, Gulf/Ocean to Bay, Intracoastal Waterway, Marina, Bay/Harbor Access, Intracoastal Waterway Access, Marina Access, Boat Port, Bridges - No Fixed Bridges, Lift, Riprap, Sailboat Water, Skiing Allowed
- Body of water: LITTLE SARASOTA BAY
Lot
- Size: 6.31 Acres
- Residential vegetation: Mature Landscaping
Details
- Parcel number: 0129081001
- Zoning: RMF1
- Special conditions: None
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
Materials
- Concrete, Stucco
- Foundation: Slab
- Roof: Built-Up
Condition
- Completed
- New construction: No
- Year built: 1979
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: BB/HS Internet Available, Cable Connected, Electricity Connected, Fire Hydrant, Phone Available, Public, Sewer Connected, Sprinkler Recycled, Water Connected
Community & HOA
Community
- Features: Bay/Harbor Front, Boat Slip, Dock, Fishing, Gulf/Ocean Front, Intracoastal Waterway, Marina, Water Access, Waterfront, Association Recreation - Owned, Buyer Approval Required, Clubhouse, Community Mailbox, Fitness Center, Pool, Sidewalks, Tennis Court(s)
- Security: Smoke Detector(s)
- Pet fee: $0 monthly
- Subdivision: ISLAND REEF II PH 1 2 & 3
HOA
- Has HOA: Yes
- Services included: Community Pool, Reserve Fund, Insurance, Maintenance Structure, Maintenance Grounds, Maintenance Repairs, Manager, Pest Control, Pool Maintenance, Private Road, Recreational Facilities, Security, Sewer
- HOA fee: $1,033 monthly
- HOA name: Joy Stevanovich
- HOA phone: 727-386-5575
Location
- Region: Sarasota
Financial & listing details
- Price per square foot: $303/sqft
- Tax assessed value: $752,700
- Annual tax amount: $9,387
- Date on market: 1/29/2026
- Cumulative days on market: 61 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Ownership: Condominium
- Total actual rent: 0
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
$555,700
$528,000 - $583,000
$5,922/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/28/2026 | Price change | $535,000-8.5%$303/sqft |
Source:  Stellar MLS #A4680015 Report a problem | ||
| 3/9/2026 | Price change | $585,000-19.3%$331/sqft |
Source: Stellar MLS #A4680015 Report a problem | ||
| 1/29/2026 | Listed for sale | $725,000+31.8%$410/sqft |
Source: Stellar MLS #A4680015 Report a problem | ||
| 3/19/2008 | Sold | $550,000$311/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,388 -0.7% | $752,700 -0.3% |
| 2024 | $9,449 -7.1% | $755,209 +10% |
| 2023 | $10,169 +10.5% | $686,554 +10% |
| 2022 | $9,201 +23.9% | $624,140 +10% |
| 2021 | $7,423 +2.4% | $567,400 +4.7% |
| 2020 | $7,247 -8.8% | $542,000 -7.9% |
| 2019 | $7,943 | $588,500 +10% |
| 2018 | $7,943 +11.9% | $535,000 |
| 2017 | $7,097 +0.1% | $535,000 |
| 2016 | $7,089 | $535,000 +5% |
| 2015 | $7,089 +3.1% | $509,600 +26.5% |
| 2014 | $6,874 +16.4% | $402,800 |
| 2013 | $5,903 +1.3% | $402,800 +0.3% |
| 2012 | $5,829 -1.6% | $401,600 -3.5% |
| 2011 | $5,926 -2.9% | $416,100 -0.2% |
| 2010 | $6,101 -19.4% | $416,800 -6.7% |
| 2009 | $7,566 | $446,600 -21% |
| 2008 | $7,566 +163% | $565,000 +159.6% |
| 2007 | $2,877 | $217,677 +2.5% |
| 2006 | -- | $212,368 +3% |
| 2005 | -- | $206,183 +3% |
| 2004 | $2,994 -0.9% | $200,178 +1.9% |
| 2003 | $3,022 +0.9% | $196,446 +2.4% |
| 2002 | $2,995 +8.4% | $191,842 +1.6% |
| 2001 | $2,763 +3.5% | $188,821 +3% |
| 2000 | $2,670 | $183,321 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$4,263/mo
Principal & interest
$2664
HOA Fees
$1033
Property taxes
$566
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Climate risks
Neighborhood: 34242
Nearby schools
GreatSchools rating
- 9/10Phillippi Shores Elementary SchoolGrades: PK-5Distance: 4.4 mi
- 6/10Brookside Middle SchoolGrades: 6-8Distance: 5.4 mi
- 5/10Sarasota High SchoolGrades: 9-12Distance: 7.1 mi
Local experts in 34242
- Florida
- Sarasota County
- Siesta Key
- 34242
- 8767 Midnight Pass Rd Apartment 101F
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