Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Copied
Photo
Copied
Photo
Photo
Photo
Photo
See all photos

$229,900

For Sale - Active
2347 Beneva Ter Unit 2251, Sarasota, FL 34232
2 Beds
2 Baths
1,171 Square Feet
4.41 Acres Lot
Built in 1978
For Sale - Active
1 Units
Checked: 11 hours ago
Updated: Jul 10, 2025 at 03:30AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$219
Cap Rate
7.3%
Cash-on-Cash Return
5.0%
Debt Coverage Ratio
1.19
Internal Rate of Return (5 years)
8.8%

Property Description


4.41 Acres Lot
Built in 1978
For Sale - Active
1 Units

ONE YEAR HOME WARRANTY INCLUDED . . . UPDATED 2 BEDROOM, 2 BATH CONDO . . . FIRST FLOOR END UNIT . . . LOW HOA FEES . . . COVERED ASSIGNED PARKING RIGHT AT THE FRONT DOOR . . . OPEN AND BRIGHT . . . INDOOR OUTDOOR PATIO SPACE . . .SPLIT FLOOR PLAN . . . Introducing a beautifully updated 2-bedroom, 2-bath condo centrally located in Terraces of Forest Lakes off Beneva. The tasteful updates combine modern elegance with comfort and function. The newly updated contemporary kitchen with solid wood cabinets, quartz countertops, ceramic tile flooring and stainless steel appliances makes it a perfect space for cooking and entertaining. Both bathrooms have also been thoughtfully updated, enhancing the overall appeal of the home. The unit has been freshly painted, giving it a bright and inviting atmosphere throughout. Enjoy the convenience of a full-size washer and dryer right inside the home, eliminating the hassle of laundry days. Say goodbye to dated popcorn ceilings, as this condo proudly showcases updated ceilings, stylish new ceiling fans and recessed lighting, adding a fresh and airy ambiance to the living space. The enclosed lanai offers a serene spot to unwind, providing a perfect blend of indoor and outdoor living. For your convenience, covered carport parking is steps from your front door, keeping your vehicle protected from the Florida sun and ensuring easy access to your home. Located just a short distance from downtown Sarasota, the beautiful beaches, and the scenic Legacy Trail, this condo is ideally situated for those who appreciate both leisure and convenience. With low HOA fees, this property is not just a home, but a lifestyle. Don’t miss the opportunity to make this exquisite condo your own! All information provided by the sellers is deemed reliable but is not guaranteed. Buyers are encouraged to verify all information independently.

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Shingle

HOA

  • Association: Miller Managgement

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0060051022
  • Lot Size: 191946 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1978

Tax Information

  • Annual Tax: $1,455

Utilities

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

Location

  • County: Sarasota

Listing Details


Listed by:
Lisa Kroshus
RE/MAX ALLIANCE GROUP
(941) 303-3429

Source:
Stellar MLS
MLS#: A4644197
Stellar MLS

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$219
Cap Rate
7.3%
Cash-on-Cash Return
5.0%
Debt Coverage Ratio
1.19
Internal Rate of Return (5 years)
8.8%

Purchase Details

Find an Agent

Purchase price:
$229,900
Amount financed:
-$183,920
Down payment:
$45,980
Closing costs:
$6,897
Rehab costs:
$0
Initial cash invested:
$52,877
Square feet:
1,171
Cost per square foot:
$196
Monthly rent per square foot:
$1.88

Financing Details

Find a Lender

Loan amount:
$183,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,178
Property tax:
$121
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,453

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$121-$1,455
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (31%)
31%-$671-$8,055

Cash Flow


Monthly Yearly
Net operating income:
$1,397 $16,764
Mortgage payments:
-$1,178 -$14,136
Cash flow:
$219 $2,628