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$825,000

For Sale - Active
515 Sawgrass Bridge Rd, Venice, FL 34292
3 Beds
3 Baths
2,567 Square Feet
0.22 Acres Lot
Built in 2013
For Sale - Active
1 Units
Checked: 2 hours ago
Updated: Jun 27, 2025 at 03:44AM

Investment Summary


Monthly Cash Flow
-$1,907
Cap Rate
3.5%
Cash-on-Cash Return
-12.1%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-7.7%

Property Description


0.22 Acres Lot
Built in 2013
For Sale - Active
1 Units

INCREDIBLE VALUE – TAKE ADVANTAGE OF A BUYER’S MARKET!! Welcome to a rare opportunity where value meets quality. Purchased for $875,000, this stunning home now comes with nearly $25,000 in high-end improvements- all included at the new low list price of $825,0000. From upgraded finishes to enhanced functionality, every detail has been carefully considered to elevate your lifestyle. Situated on an extraordinary 120' deep private lot, the home takes full advantage of an oversized 60' wide screened and covered lanai with pool (Pebble Tec and sun shelf with two jets), dining and conversation areas ... all framed by golf course and lake views. At almost 2,600-square feet, the heartbeat of this spectacular home is the great room, dining room, kitchen and breakfast room. A wall of sliding glass doors gives the home's living space an expanded outdoors. On the south side of the home is the owner's en-suite, luxurious with dual custom built walk-in closets, separate vanities, Roman shower and garden tub. North side are the guest quarters, 2 ample sized bedrooms and bathrooms, set aside for privacy. A private den and 3rd/pool bath is steps from the lanai. Interior features include large warm neutral tone subway tile floors in all common living areas, richly appointed 42" high wood cabinetry, granite counters, high and coiffured tray ceilings. The exterior is finished with paver brick on the 24' wide driveway, walkway and lanai. Storage abounds in the home's 625 square foot 3-car garage, which has additional storage built-in and expertly finished floors for easy maintenance. HVAC and water heater were replaced 3 years ago. Low HOA assessment and NO CDD fee. Sawgrass is amongst the premier gated communities in Venice, amenities include club house with social activities including fitness, heated pool, tennis/pickleball. The semi-private Waterford golf course meanders through the community. Close to the quaint Venice shops, restaurants, beaches, fishing, Legacy biking and walking trails, other recreational and cultural venues and medical resources of Venice Island and greater Sarasota County are minutes away. Furniture available under separate contract. Why pay more elsewhere when you can move into a better-than-new home for less? In today’s market, this kind of deal doesn’t come often.

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Location


Property Details


Parking

  • Description: Driveway, Garage Door Opener
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 14
  • # of Stories: 1

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Sunstate Property Management/ Brian Rivenbark
  • HOA Fee: $2,063/annually

Land Information

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

Lot Information

  • Parcel ID: 0402080022
  • Lot Size: 9600 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Florida
  • Year Built: 2013

Tax Information

  • Annual Tax: $9,705

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Humidity Control

Location

  • County: Sarasota

Listing Details


Listed by:
Sandi Tresh
RE/MAX PALM REALTY OF VENICE
(941) 586-1218

Source:
Stellar MLS
MLS#: N6138786
Stellar MLS

Investment Summary


Monthly Cash Flow
-$1,907
Cap Rate
3.5%
Cash-on-Cash Return
-12.1%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-7.7%

Purchase Details

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Purchase price:
$825,000
Amount financed:
-$660,000
Down payment:
$165,000
Closing costs:
$24,750
Rehab costs:
$0
Initial cash invested:
$189,750
Square feet:
2,567
Cost per square foot:
$321
Monthly rent per square foot:
$1.91

Financing Details

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Loan amount:
$660,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$4,307
Property tax:
$809
Insurance:
$343
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,459

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,900 $58,800
Vacancy loss: (6%)
6% -$294 -$3,528
Operating income:
$4,606 $55,272

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$809-$9,706
Insurance: (7%)
7%-$343-$4,116
Property management: (8%)
8%-$392-$4,704
Repairs & maintenance: (5%)
5%-$245-$2,940
Capital expenditures: (5%)
5%-$245-$2,940
HOA fees: (4%)
4%-$172-$2,064
Total operating expenses: (45%)
45%-$2,206-$26,470

Cash Flow


Monthly Yearly
Net operating income:
$2,400 $28,800
Mortgage payments:
-$4,307 -$51,684
Cash flow:
$1,907 $22,884