6020 Midnight Pass Rd #32SarasotaFL34242
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 6020 Midnight Pass Rd #32, Sarasota, FL, 34242 in Sarasota at $479,900 earns $3,358/mo in rent and nets $173/mo after the $2,158/mo payment, a 8.4% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $132,588 over five years. Ziffy Mortgage underwrites this on a 1.56 DSCR without U.S. credit history. With $4,420/yr in principal paydown, total projected return reaches $194,091.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 5.2% |
| Monthly Cash Flow | $173 | $300 |
City averages based on Sarasota market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,358 |
| Total Monthly Debt Service | $2,994 |
| DSCR Ratio | 1.12x |
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 1964
6.22 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34242, Sarasota, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,363 (100%) |
| Owner Occupied HU | 3,517 (33.9%) |
| Renter Occupied HU | 398 ( 3.8%) |
| Vacant Housing Units | 6,448 (62.2%) |
| Median Home Value | $995,518 |
| Average Home Value | $1,226,830 |
Housing Distribution
Address Breakdown
Residential
6,895
Single Family
3,560
Multi-Family
3,335
Businesses
232
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 1964
6.22 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34242, Sarasota, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,363 (100%) |
| Owner Occupied HU | 3,517 (33.9%) |
| Renter Occupied HU | 398 ( 3.8%) |
| Vacant Housing Units | 6,448 (62.2%) |
| Median Home Value | $995,518 |
| Average Home Value | $1,226,830 |
Housing Distribution
Address Breakdown
Residential
6,895
Single Family
3,560
Multi-Family
3,335
Businesses
232
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices