1602 Stickney Point Rd APT 305, Sarasota, FL, 34231 | $295/mo Cash Flow

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1602 Stickney Point Rd APT 305, Sarasota, FL, 34231 | $295/mo Cash Flow | Ziffy

For Sale

Listed for sale 3 days ago

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Sarasota at 1602 Stickney Point Rd APT 305, Sarasota, FL, 34231 uses $115,992 cash to close to unlock $3,535/yr annual cash flow and $295/mo monthly cash flow. Total monthly income runs $2,617/mo, and a $1,713/mo payment keeps the spread at $295/mo. Purchase price stands at $349,900, and rental yield measures 8.98% with $2,617/mo rent. Return on cash invested shows 22.96% in year one, and 5% annual appreciation builds toward $96,671 over five years. Five-year ROI reaches 119.79% and total cumulative return in cash records $138,942. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,617/mo property income covering a $1,713/mo payment rather than investor’s personal income.

Condo

Built in 1975

8.91 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to the best of Sarasota's coastal living! From the front door AND every room in the Condo, breathtaking Million-dollar views greet you for a fraction of the price. Everything you want in your Florida lifestyle home is included with the resort-style amenities. Less than one mile to the BEST beaches in world, Siesta Key Beaches, this waterfront Condo is located in the desirable community of Castel Del Mar - nicknamed "The Hidden Jewel on the Bay". Only minutes from the best in beaches, dining, shopping and entertainment. This third floor Condo with elevator access has NEW updated Central Air, along with NEW hot water heater and NEW appliances. The expansive lanai comes with full length storm sliding glass doors. It is worth noting that during the significant 2024 hurricane season this Condo did not experience ANY damage! A testimony to its safe quality construction. The amenities available are numerous. Two heated pools, tennis courts, pickleball courts, shuffleboard, a club house, a gazebo at the water's edge and even water access and storage for kayaks along with a boardwalk at the edge of the Intracoastal Waterway and the property. There is even a covered designated parking spot with an attached storage unit. This Condo is being SOLD turnkey and fully furnished. The best Condo at the best price with the most serene breath-taking views! Schedule your showing today!

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