1703 Pelican Cove Rd #356SarasotaFL34231
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowHigh DSCR is a competitive advantage at closing. 1703 Pelican Cove Rd #356, Sarasota, FL, 34231 in Sarasota achieves 2.04, rent of $2,723/mo covers the $1,338/mo payment 1.5x over at $297,500. Rental yield 10.98%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $82,194 over five years, with $2,740/yr in principal reduction bringing total projected return to $161,555.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11% | 5.2% |
| Monthly Cash Flow | $(22) | $300 |
City averages based on Sarasota market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,723 |
| Total Monthly Debt Service | $1,856 |
| DSCR Ratio | 1.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1979
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1979
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices