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$1,595,000

For Sale - Active
1884 Grove St, Sarasota, FL 34239
3 Beds
3 Baths
2,714 Square Feet
0.16 Acres Lot
Built in 2008
For Sale - Active
1 Units
Checked: 10 hours ago
Updated: Jul 12, 2025 at 05:08AM

Investment Summary


Monthly Cash Flow
-$3,601
Cap Rate
3.4%
Cash-on-Cash Return
-11.8%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-7.4%

Property Description


0.16 Acres Lot
Built in 2008
For Sale - Active
1 Units

This is one of the best values for a newer 2008-built, 2,700 sq. ft. home in the prime West of Trail location. Thoughtfully upgraded throughout, the home features high ceilings and beautifully finished open floor plan with an oversized kitchen island with seating area. The main level boasts wood floors, high-end appliances and custom cabinetry. The 3 bedroom, 3 bathroom home features a large primary suite, with a generously sized walk-in closet, spacious ensuite bathroom and a private terrace. Designed for entertaining, the layout includes a spacious screened-in paver terrace with a tranquil waterfall feature—and still plenty of room to add a pool. Other notable features include newer a/c (2022), impact-rated windows and doors, plus an oversized air-conditioned 2 car garage with epoxy floors. Located near Southside Elementary and just minutes from the shops and restaurants of Southside Village, Siesta Key beach, and the downtown Sarasota Bayfront.

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Location


Property Details


Parking

  • Description: Driveway, Garage Door Opener, Ground Level, Oversized
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Flat
  • Roof Material: Membrane

Land Information

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

Lot Information

  • Parcel ID: 2038160029
  • Lot Size: 6935 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Florida
  • Year Built: 2008

Tax Information

  • Annual Tax: $9,758

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Sarasota

Listing Details


Listed by:
Barbara May
MICHAEL SAUNDERS & COMPANY
(404) 822-9264

Source:
Stellar MLS
MLS#: A4657617
Stellar MLS

Investment Summary


Monthly Cash Flow
-$3,601
Cap Rate
3.4%
Cash-on-Cash Return
-11.8%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-7.4%

Purchase Details

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Purchase price:
$1,595,000
Amount financed:
-$1,276,000
Down payment:
$319,000
Closing costs:
$47,850
Rehab costs:
$0
Initial cash invested:
$366,850
Square feet:
2,714
Cost per square foot:
$588
Monthly rent per square foot:
$2.87

Financing Details

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Loan amount:
$1,276,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$8,170
Property tax:
$813
Insurance:
$546
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,529

Operating Income

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% Rent Monthly Yearly
Gross rent:
$7,800 $93,600
Vacancy loss: (6%)
6% -$468 -$5,616
Operating income:
$7,332 $87,984

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$813-$9,758
Insurance: (7%)
7%-$546-$6,552
Property management: (8%)
8%-$624-$7,488
Repairs & maintenance: (5%)
5%-$390-$4,680
Capital expenditures: (5%)
5%-$390-$4,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (35%)
35%-$2,763-$33,158

Cash Flow


Monthly Yearly
Net operating income:
$4,569 $54,828
Mortgage payments:
-$8,170 -$98,040
Cash flow:
$3,601 $43,212