551 S WASHINGTON DRIVE, SARASOTA, FL, 34236
Active285 days on marketListed Oct 15, 2025MLS #A4668634
About this home
551 S WASHINGTON DRIVE
Welcome to Lido Dreams, an exquisite 5,500 square foot luxury retreat nestled in the vibrant heart of St. Armands Circle on Lido Key. This brand-new masterpiece boasts 9 spacious bedrooms and 9 luxurious bathrooms, making it the ideal sanctuary for families or groups seeking both comfort and style. With a private pool, relaxing hot tub, and expansive outdoor living areas, Lido Dreams harmoniously blends modern elegance with the laid-back charm of coastal living. As you step inside, you’ll be greeted by a grand private foyer that sets the tone for the sophistication that awaits. An elevator and stylish stairway provide seamless access to the main living spaces, ensuring that your experience is as convenient as it is enjoyable. The oversized garage accommodates up to five vehicles, providing ample space for parking and storage, perfect for those who love to explore the surrounding area. On the second floor, you’ll find the heart of the home, designed for gatherings and celebrations. The spacious living room invites you to unwind, while the bright dining area and chef’s kitchen create a welcoming hub for shared meals and memorable moments. With five beautifully appointed bedrooms on this level, each featuring its own ensuite bathroom, your guests will enjoy the perfect balance of privacy and comfort. A well-equipped butler's pantry and one of two laundry rooms enhance the functionality of this floor, making it as practical as it is luxurious. Venture to the third floor, where the expansive primary suite offers a private sanctuary. Complete with its own living area, an extra-large bedroom, dual bathroom vanities, and a grand walk-in closet, this suite is designed for relaxation and rejuvenation. Picture yourself enjoying breathtaking views of playful manatees and dolphins from the comfort of your extraordinary owner's suite. Additional bedrooms, each with ensuite baths, ensure that every guest feels at home, with a second laundry room conveniently located on this level for added ease. Ascending to the rooftop, you will discover an open-air living space that redefines outdoor entertaining. This large rooftop deck invites you to savor morning coffee under the sun, enjoy sunset cocktails with friends, or indulge in stargazing on a clear night. It’s the ultimate backdrop for unforgettable moments, whether you're hosting a gathering or simply soaking in the serene surroundings. From sunlit gathering spaces to tranquil private retreats, Lido Dreams strikes the perfect balance between togetherness and solitude. Set in an unbeatable location just steps away from shopping, dining, and the pristine beach, this property embodies the essence of luxury living on Lido Key. Currently operating as a successful short-term rental with impressive bookings, Lido Dreams offers not just a home but an opportunity for a thriving investment. Financials are available upon request, making this an enticing prospect for discerning buyers. Don’t miss your chance to own this exceptional piece of paradise! *not pictured: boat dock & deck and outdoor kitchen & shower to be included in asking price.
Facts & features
The home at a glance
9
Bedrooms
9
Bathrooms
5,493
Sqft
0.23 ac
Lot size
5
Garage
2024
Year built
Three Or More
Levels
$1,729
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$57,565 /mo · 10% down Conventional, 30-yr fixed at 6%
The assumptions
Above the FHA loan limit for our service areas, so Conventional is the default. VA buyers: switch below — $0 down.
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
FHA isn’t available at this price — the loan would exceed the $541,287 FHA limit for our service areas.
Estimated payment
$57,565/mo
Includes estimated PMI — it drops off once you reach 20% equity. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. 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 SAINT ARMANDS DIV JOHN RINGLING ESTATES
$1,729 vs $1,091
Days on market
285 vs 58 typical
Where $1,729/sqft sits among the 14 homes for sale in SAINT ARMANDS DIV JOHN RINGLING ESTATES
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 St. Armands
Drive times from this address
Estimated driving times, typical traffic. Data © OpenStreetMap contributors.
Get to know Sarasota. See the full Sarasota guide →
St. Armands — neighborhood snapshot
Population
403
Median age
80
Median income
$97,465
Median home value
$740,700
Avg household
2
Households w/ children
7%
For the school run
Sarasota County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Sarasota market
$470K → $470K
Sarasota median sold, yr/yr
95.1%
Sale-to-list ratio (12 mo)
8 of 14
SAINT ARMANDS DIV JOHN RINGLING ESTATES have cut their price
Median sold price, Sarasota, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 1024% above the SARASOTA 34236 median. See the full Sarasota market guide →
Paper trail
This home's history
Reality check
What actually sold near 551 S WASHINGTON DRIVE
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Oct ’25$8,830,000
178 N WASHINGTON DRIVE · same community
4 bd · 4.5 ba · 5,064 sqft · $1,744/sqft · 113 DOM
Sold · Dec ’25$2,825,000
113 FILLMORE DRIVE · same community
4 bd · 4.5 ba · 4,008 sqft · $705/sqft · 227 DOM
Sold · Sep ’25$2,500,000
121 N BOULEVARD OF PRESIDENTS · same community
3 bd · 3.5 ba · 3,491 sqft · $716/sqft · 160 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
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 551 S WASHINGTON DRIVE — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 551 S WASHINGTON DRIVE — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
551 S WASHINGTON DRIVE FAQs
What would the monthly payment be for 551 S WASHINGTON DRIVE?+
With 10% down on a 30-year Conventional loan at 6%, the all-in payment lands around $57,565/mo — principal and interest, the actual property-tax bill 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.
What are the property taxes on 551 S WASHINGTON DRIVE?+
The most recent tax bill on record (2024) was $31,312. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
How does the price compare to other homes in Sarasota?+
At $9,495,000, this home is listed about 1566% above the Sarasota median of $570,000. The market section on this page shows how the area is trending.
Which schools are assigned to 551 S WASHINGTON DRIVE?+
Southside Elementary School (elementary), Booker High School (high), Booker Middle School (middle) — Sarasota County School District. Always verify school assignments with the district before relying on them.
The brief
Four things that matter here
01Positioned at the premium end
$9,495,000 runs 1024% above the SARASOTA 34236 median — but at 5,493 sqft it's also nearly 3 times the size of the typical Sarasota listing.
02Waterfront living
This home sits directly on the water — the single scarcest feature in Florida inventory and the strongest long-term value anchor.
03Time on market is leverage
285 days on market against a Sarasota median of 58 — sellers in this position are usually ready to negotiate.
04Strong assigned schools
Southside Elementary School, Booker High School, Booker Middle School — Southside Elementary School rates 5 of 5. Always verify assignments with the district.
Keep looking
Similar homes nearby
Listing courtesy of COMPASS FLORIDA LLC · Tina Ellis. MLS #A4668634.
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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