6157 Midnight Pass Rd APT E24, Sarasota, FL, 34242 | $22/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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6157 Midnight Pass Rd APT E24, Sarasota, FL, 34242 | $22/mo Cash Flow | Ziffy

For Sale

Rental Income

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 6157 Midnight Pass Rd APT E24, Sarasota, FL, 34242 earns $22/mo cash flow from $3,168/mo rent with a $2,320/mo payment. Total monthly income totals $3,168/mo, and annual cash flow totals $269/yr on $157,131 capital. ROI tracks 20.08% on current figures, and rental yield reads 8.02% at a $474,000 purchase. Equity gained on principal adds $3,059/yr, and 5% annual appreciation supports $130,957 over five years. Five-year ROI reaches 104.35% and total cumulative return in cash sums $163,973. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,168/mo property income instead of your personal income.

Condo

Built in 1974

4.26 Acres lot

$N/A/sqft

No HOA

More details about the property

Elevated Living on the 4th Floor! Discover this well appointed 1-bedroom, 1-bath condo just minutes from the world-renowned Siesta Key Beach. This TURN KEY residence offers the ideal blend of relaxed Florida living and exceptional value. Step into a bright and airy space where natural light pours into the east-facing screened balcony, overlooking lush tropical landscaping. The interior features ceramic tile flooring throughout the kitchen, dining, and living areas, creating a clean and cohesive look. The kitchen is equipped with stainless steel appliances, including a range and dishwasher, and boasts a generous walk-in pantry for all your storage needs. A separate large closet provides ample space for beach and pool gear. Residents and guests enjoy access to a host of amenities including a community pool, tennis courts, social room, and fishing pier. Recent updates include a brand-new water heater and a newer A/C system for added peace of mind. Best of all, this gem allows for weekly rentals, offering a fantastic opportunity to offset ownership costs. Gross rental income ranging from $30,000 to $40,000 annually. Great place to vacation when you can...and rent when you can't! The unit includes one assigned covered parking space, plus plenty of guest parking. Dont miss outschedule your showing today!

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