1508 Pelican Cove Rd #231SarasotaFL34231
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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 1508 Pelican Cove Rd #231, Sarasota, FL, 34231 offers a 10.42% rental yield on a $290,000 purchase with $2,518/mo rent. Total monthly income registers $2,518/mo, and a $1,419/mo payment leaves $594/mo available for distribution. Annual cash flow reaches $7,127/yr on $96,135 to close, and return on cash invested stands at 27.32% in year one. Equity gained on principal adds $1,871/yr while 5% annual appreciation supports $80,122 over five years. Portfolio math shows five-year ROI at 143.17% and total cumulative return in cash at $137,632. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,518/mo property income against a $1,419/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1980
2.08 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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