8397 38th Street Cir E Unit 306SarasotaFL34243
INVESTMENT ANALYSIS
Investment Verdict
Solid Income8397 38th Street Cir E Unit 306, Sarasota, FL, 34243 in Sarasota earns a respectable 9.9% gross yield at $289,950, but after the $1,304/mo mortgage the net cash flow is $69/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (1.84) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $80,108 over five years, making equity the dominant return driver. Total projected return: $140,656.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.9% | 5.2% |
| Monthly Cash Flow | $69 | $300 |
City averages based on Sarasota market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,393 |
| Total Monthly Debt Service | $1,809 |
| DSCR Ratio | 1.32x |
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