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$259,000

For Sale - Active
3181 Irving St, Sarasota, FL 34237
3 Beds
2 Baths
1,506 Square Feet
0.20 Acres Lot
Built in 1956
For Sale - Active
1 Units
Checked: 6 hours ago
Updated: May 26, 2025 at 03:19PM

Investment Summary


Monthly Cash Flow
-$6
Cap Rate
6.1%
Cash-on-Cash Return
-0.1%
Debt Coverage Ratio
1.00
Internal Rate of Return (5 years)
3.9%

Property Description


0.20 Acres Lot
Built in 1956
For Sale - Active
1 Units

*This is the One!*This home sustained flood damage and will require renovation, however it has great bones and lots of potential*Located within walking or biking distance to the World Famous Pinecraft, this property offers a unique chance to immerse yourself in a vibrant and culturally rich community*For outdoor enthusiasts, the new Legacy Trail is easily accessible, providing endless opportunities for walking, jogging, or cycling amidst stunning natural surroundings*In addition to its prime location, this home offers quick and convenient access to top-rated schools, a variety of restaurants, diverse shopping options, reputable medical centers, I-75, breathtaking beaches, and an abundance of entertainment choices*Embrace a lifestyle filled with convenience, leisure, and excitement*Don't miss out on this incredible opportunity*Schedule a showing today and seize the chance to own this exceptional property* --

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Location


Property Details


Parking

  • Description: Attached Garage
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 3
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Foundation: Slab
  • Roof Type: Hip
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 0054140059
  • Lot Size: 8560 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1956

Tax Information

  • Annual Tax: $705

Utilities

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

Location

  • County: Sarasota

Listing Details


Listed by:
Dave Beachy
BEACHY PROPERTIES
(941) 371-8163

Source:
Stellar MLS
MLS#: A4631777
Stellar MLS

Investment Summary


Monthly Cash Flow
-$6
Cap Rate
6.1%
Cash-on-Cash Return
-0.1%
Debt Coverage Ratio
1.00
Internal Rate of Return (5 years)
3.9%

Purchase Details

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Purchase price:
$259,000
Amount financed:
-$207,200
Down payment:
$51,800
Closing costs:
$7,770
Rehab costs:
$0
Initial cash invested:
$59,570
Square feet:
1,506
Cost per square foot:
$172
Monthly rent per square foot:
$1.33

Financing Details

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Loan amount:
$207,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,327
Property tax:
$59
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,526

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (3%)
3%-$59-$706
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (28%)
28%-$559-$6,706

Cash Flow


Monthly Yearly
Net operating income:
$1,321 $15,852
Mortgage payments:
-$1,327 -$15,924
Cash flow:
$6 $72