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$2,250,000

For Sale - Active
106 N Blvd Of The Presidents, Sarasota, FL 34236
3 Beds
3 Baths
1,999 Square Feet
0.27 Acres Lot
Built in 1952
For Sale - Active
1 Units
Checked: 7 hours ago
Updated: Jun 05, 2025 at 03:03AM

Investment Summary


Monthly Cash Flow
-$8,191
Cap Rate
1.8%
Cash-on-Cash Return
-19.0%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.4%

Property Description


0.27 Acres Lot
Built in 1952
For Sale - Active
1 Units

Nestled in the heart of the vibrant St. Armands Circle, this exquisite island retreat embodies classic coastal elegance with a modern edge. A recent meticulously remodel that now presents as a pristine, like-new residence, both inside and out. Beyond the privacy of solid stucco block walls, a world of refined living unfolds. A picturesque approach, accentuated by elegant stone pavers, sets the stage for the impeccable interiors that await. Recent enhancements include a newer roof, impact-resistant windows & doors, new kitchen (2025), new water heater (2025), new pool pump (2025), new HVAC (2025) new insulation, ensuring both tranquility and energy efficiency. Step inside to discover a masterfully crafted haven where open, sunlit spaces seamlessly blend with intimate retreats. Custom carpentry, intricate moldings, and a curated fusion of coastal and beach house elements create an ambiance of relaxed sophistication. Entertain with ease in the expansive living areas, graced by tray ceilings, plantation shutters, travertine floors, and coastal flair. The open kitchen extends effortlessly to a charming, patio, ideal for alfresco dining and lively gatherings under the stars. Indulge in the serenity of the screened pool and sitting area, where sun-drenched afternoons and refreshing swims become part of daily life. Just moments away, immerse yourself in the vibrant energy of St. Armands Circle, home to world-class boutiques, fine dining, and captivating cultural events. A leisurely stroll or bike ride leads to pristine Lido Beach, while a short drive across the bridge unveils the artistic and theatrical allure of downtown Sarasota’s vibrant restaurant scene. This is more than a home, it is a lifestyle, an invitation to embrace the essence of island luxury.

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Location


Property Details


Parking

  • Description: Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Hip
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 2014050061
  • Lot Size: 11603 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1952

Tax Information

  • Annual Tax: $25,393

Utilities

  • Water & Sewer: Private, Public, Well
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Sarasota

Listing Details


Listed by:
Cathy Palmer
DOUGLAS ELLIMAN
(678) 524-1104

Source:
Stellar MLS
MLS#: A4642792
Stellar MLS

Investment Summary


Monthly Cash Flow
-$8,191
Cap Rate
1.8%
Cash-on-Cash Return
-19.0%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.4%

Purchase Details

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Purchase price:
$2,250,000
Amount financed:
-$1,800,000
Down payment:
$450,000
Closing costs:
$67,500
Rehab costs:
$0
Initial cash invested:
$517,500
Square feet:
1,999
Cost per square foot:
$1,126
Monthly rent per square foot:
$3.95

Financing Details

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Loan amount:
$1,800,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$11,526
Property tax:
$2,116
Insurance:
$553
Private mortgage insurance (PMI):
$0
Monthly payment:
$14,195

Operating Income

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% Rent Monthly Yearly
Gross rent:
$7,900 $94,800
Vacancy loss: (6%)
6% -$474 -$5,688
Operating income:
$7,426 $89,112

Operating Expenses


% Rent Monthly Yearly
Property taxes: (27%)
27%-$2,116-$25,393
Insurance: (7%)
7%-$553-$6,636
Property management: (8%)
8%-$632-$7,584
Repairs & maintenance: (5%)
5%-$395-$4,740
Capital expenditures: (5%)
5%-$395-$4,740
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (52%)
52%-$4,091-$49,093

Cash Flow


Monthly Yearly
Net operating income:
$3,335 $40,020
Mortgage payments:
-$11,526 -$138,312
Cash flow:
$8,191 $98,292