1505 Pelican Point Dr #271SarasotaFL34231
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Sarasota at 1505 Pelican Point Dr #271, Sarasota, FL, 34231 uses $137,573 cash to close to unlock $2,307/yr annual cash flow and $192/mo monthly cash flow. Total monthly income runs $2,946/mo, and a $2,031/mo payment keeps the spread at $192/mo. Purchase price stands at $415,000, and rental yield measures 8.52% with $2,946/mo rent. Return on cash invested shows 21.59% in year one, and 5% annual appreciation builds toward $114,657 over five years. Five-year ROI reaches 112.44% and total cumulative return in cash records $154,689. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,946/mo property income covering a $2,031/mo payment rather than investor’s personal income.
Condo
Built in 1978
3.79 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34231, Sarasota, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,710 (100%) |
| Owner Occupied HU | 10,882 (58.2%) |
| Renter Occupied HU | 4,779 (25.5%) |
| Vacant Housing Units | 3,049 (16.3%) |
| Median Home Value | $488,555 |
| Average Home Value | $655,660 |
Housing Distribution
Address Breakdown
Residential
16,928
Single Family
14,567
Multi-Family
2,361
Businesses
1,148
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