847 Evergreen Way, Longboat Key, FL, 34228 | $1,247/mo Cash Flow

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847 Evergreen Way, Longboat Key, FL, 34228 | $1,247/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

Rental property for sale in Longboat Key at 847 Evergreen Way, Longboat Key, FL, 34228 priced at $639,000 converts $5,488/mo rent into $1,247/mo cash flow after a $3,128/mo obligation. Total monthly income equals $5,488/mo, and annual cash flow totals $14,965/yr on $210,231 invested. Return on cash invested prints 27.18% in year one, and rental yield reads 10.31% against a $639,000 entry. Equity gained on principal adds $4,123/yr, while 5% annual appreciation compiles into $176,544 by year five. Five-year ROI reaches 142.41% and total cumulative return in cash sums $299,380. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,488/mo property income covering a $3,128/mo payment, not borrower’s personal income.

Townhouse

Built in 1991

3.12 Acres lot

$N/A/sqft

No HOA

More details about the property

Income-Producing Coastal Gem This TURNKEY FURNISHED 2BR/2.5BA townhome in the exclusive Cedars East Tennis Resort isnt just a slice of paradiseits a proven performer. With $80,000 in past annual rental income and future bookings already secured, this property offers immediate cash flow and long-term upside. Inside, enjoy 1,440 sq ft of updated living space featuring a gourmet kitchen with granite countertops, spa-inspired bathrooms, and a private oversized garage. Spacious, bright primary suite include 2 separate vanities in the ensuite bathroom. Laundry on the top bedroom floor for added convenience. The open layout and tasteful coastal dcor make it ideal for guests and owners alike. Turnkey Investment Highlights: Strong rental history with $90K+ annual income, Future bookings in place for seamless transition. Resort like amenities include: 10 Har-Tru Tennis Courts, Heated Jr. Olympic Pool,24-Hour Fitness Center, Bay Access with Kayak Launch, Private Fishing Pier, and Scenic Boardwalks through Mangroves. Prime Location: Minutes from Longboat Key beaches, St. Armands Circle, downtown Sarasota, and Anna Maria Island. Whether you're expanding your portfolio or seeking a personal retreat with income potential, this Longboat Key treasure delivers lifestyle and ROI. *NO Flood Damage *NEW AC 2025

Neighborhood Data

Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,771 (100%)
Owner Occupied HU	3,972 (40.7%)
Renter Occupied HU	313 ( 3.2%)
Vacant Housing Units	5,486 (56.1%)
Median Home Value	$1,019,900
Average Home Value	$1,229,149