8387 38th Street Cir E UNIT 305SarasotaFL34243
INVESTMENT ANALYSIS
Investment Verdict
Solid Income8387 38th Street Cir E UNIT 305, Sarasota, FL, 34243 in Sarasota carries a 1.61 coverage ratio, rent of $1,512/mo is 1.61 times the $940/mo payment. Rental yield 8.68%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $209,000 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $57,743; total projected cumulative return: $87,686.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 5.2% |
| Monthly Cash Flow | $(197) | $300 |
City averages based on Sarasota market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,512 |
| Total Monthly Debt Service | $1,304 |
| DSCR Ratio | 1.16x |
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 2005
18.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34243, Sarasota, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,532 (100%) |
| Owner Occupied HU | 10,767 (61.4%) |
| Renter Occupied HU | 4,395 (25.1%) |
| Vacant Housing Units | 2,370 (13.5%) |
| Median Home Value | $453,505 |
| Average Home Value | $504,833 |
Housing Distribution
Address Breakdown
Residential
15,798
Single Family
12,522
Multi-Family
3,276
Businesses
1,656
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 2005
18.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34243, Sarasota, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,532 (100%) |
| Owner Occupied HU | 10,767 (61.4%) |
| Renter Occupied HU | 4,395 (25.1%) |
| Vacant Housing Units | 2,370 (13.5%) |
| Median Home Value | $453,505 |
| Average Home Value | $504,833 |
Housing Distribution
Address Breakdown
Residential
15,798
Single Family
12,522
Multi-Family
3,276
Businesses
1,656
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices