6285 Midnight Pass Rd APT 201SarasotaFL34242
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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 6285 Midnight Pass Rd APT 201, Sarasota, FL, 34242 uses $262,213 cash to close to unlock $2,447/yr annual cash flow and $204/mo monthly cash flow. Total monthly income runs $6,622/mo, and a $3,901/mo payment keeps the spread at $204/mo. Purchase price stands at $797,000, and rental yield measures 9.97% with $6,622/mo rent. Return on cash invested shows 20.99% in year one, and 5% annual appreciation builds toward $220,196 over five years. Five-year ROI reaches 111.08% and total cumulative return in cash records $291,278. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $6,622/mo property income covering a $3,901/mo payment rather than investor’s personal income.
Condo
Built in 1981
N/A lot
$N/A/sqft
$1,129 monthly 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
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Listed by: Marci McFarland • MICHAEL SAUNDERS & COMPANY
Mls Name: Stellar MLS
Mls Provider:
Mls ID: #A4644089
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some IDX listings have been excluded from this website. Listing Information presented by local MLS brokerage: Zillow, Inc - (407) 904-3511