5275 GULF OF MEXICO DRIVE UNIT 202, LONGBOAT KEY, FL, 34228
Active51 days on marketListed Aug 22, 2026MLS #A4701337
About this home
5275 GULF OF MEXICO DRIVE UNIT 202
Pricing: In-Season: $14,500/month (60 Day Minimum) | Off-Season: $9,450/month | All rates include taxes and fees Sunset at Banyan Bay is a beautifully appointed 2nd-floor Gulf-front condominium in the coveted Banyan Bay community on Longboat Key — one of Florida's most serene Gulf Coast barrier islands. This 3-bedroom, 3-bathroom residence sleeps up to 8 and offers sweeping views of the Gulf from the living areas and primary suite. The primary bedroom features a king bed, bedroom 2 a queen, and the spacious loft (bedroom 3) accommodates up to 6 with queen bunk beds and a twin bunk bed — ideal for families or multi-generational groups. The kitchen is fully provisioned for extended stays with all cookware, dishes, utensils, and appliances; bring the groceries and settle in. In-unit washer and dryer, covered parking, and starter supplies provided on arrival. Banyan Bay residents enjoy direct Gulf beach access with community-provided beach chairs and umbrellas, a pool, tennis courts, fitness center, library, and clubhouse. Sarasota's arts district, downtown dining, and St. Armands Circle are minutes away. In-Season: $14,500/month | Off-Season: $9,500/month. All rates include taxes and fees. MINIMUM 30-DAY STAY REQUIRED in accordance with City of Longboat Key ordinance and Banyan Bay HOA. No pets. Non-smoking. Maximum 8 guests.
Facts & features
The home at a glance
3
Bedrooms
3
Bathrooms
1,498
Sqft
2.13 ac
Lot size
1974
Year built
Two
Levels
$10
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Principal and interest plus estimated taxes and insurance. Run your own numbers below.
$265 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$265/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs Longboat Key actives
$10 vs $659
Days on market
51 vs 125 typical
Where $10/sqft sits among the 220 Longboat Key actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Longboat Key
Get to know Longboat Key. See the full Longboat Key guide →
LONGBOAT KEY 34228 — neighborhood snapshot
Population
7,512
Median age
71.5
Median income
$143,365
Median home value
$959,200
Avg household
1.8
Households w/ children
51%
For the school run
Sarasota County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Longboat Key market
$820K → $948K
Longboat Key median sold, yr/yr
93.1%
Sale-to-list ratio (12 mo)
89 of 220
Longboat Key actives have cut their price
Median sold price, Longboat Key, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 97% below the LONGBOAT KEY 34228 median. See the full Longboat Key market guide →
Paper trail
This home's history
Reality check
What actually sold near 5275 GULF OF MEXICO DRIVE UNIT 202
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Dec ’25$1,175,000
4325 GULF OF MEXICO DRIVE UNIT 204
3 bd · 2 ba · 1,484 sqft · $792/sqft · 129 DOM
Sold · Mar ’26$701,000
4600 GULF OF MEXICO DRIVE UNIT 206
2 bd · 2 ba · 1,523 sqft · $460/sqft · 46 DOM
Sold · Jul ’26$644,950
4960 GULF OF MEXICO DRIVE UNIT 206
2 bd · 2 ba · 1,523 sqft · $423/sqft · 128 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
Bridget McLennon
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 5275 GULF OF MEXICO DRIVE UNIT 202 — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 5275 GULF OF MEXICO DRIVE UNIT 202 — before you fall in love.
See it in person
Schedule a tour
Live availability from Bridget's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
5275 GULF OF MEXICO DRIVE UNIT 202 FAQs
What would the monthly payment be for 5275 GULF OF MEXICO DRIVE UNIT 202?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $265/mo — principal and interest, estimated property taxes and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
Are pets allowed at 5275 GULF OF MEXICO DRIVE UNIT 202?+
The listing reports pets: No. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Longboat Key?+
At $14,500, this home is listed about 98% below the Longboat Key median of $863,900. The market section on this page shows how the area is trending.
Which schools are assigned to 5275 GULF OF MEXICO DRIVE UNIT 202?+
Booker High School (high), Booker Middle School (middle), Southside Elementary School (elementary) — Sarasota County School District. Always verify school assignments with the district before relying on them.
The brief
Three things that matter here
01Under the LONGBOAT KEY 34228 market on paper
$14,500 is 97% below the LONGBOAT KEY 34228 median of $557,500, and at $10/sqft it sits under the Longboat Key average of $814.
02Waterfront living
This home sits directly on the water — the single scarcest feature in Florida inventory and the strongest long-term value anchor.
03Strong assigned schools
Booker High School, Booker Middle School, Southside Elementary School — Southside Elementary School rates 5 of 5. Always verify assignments with the district.
Keep looking
Similar homes nearby
Listing courtesy of PMI SOUTHWEST FLORIDA · David Holt. MLS #A4701337.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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