2131 Outer DRIVE
About This Property
Don't miss this opportunity to view this one-of-a-kind, charming, 3br x 2ba home located just minutes from the bustling Downtown Sarasota AND one of the Top 5 beaches in the United States, Siesta Key Beach. NO HOA means you are free to use for boat/RV/toy parking. This home features a light and bright split floorplan with bamboo laminate floors, and beautiful white Quartz countertops. Enjoy all the character and charm of this 1955 bungalow with the comfort of knowing underground plumbing and electrical was updated in 2022. A/C was replaced in 2019 and is serviced quarterly. Beautiful black stainless appliances were added in 2020, and will transfer with home. The lanai was converted in 2019 by previous owners into a beautiful master suite with ample floor space and lvp flooring (permitting information is available upon request). The huge, enclosed, fenced back yard features a beautiful paver patio where you can enjoy the serene sounds of the bamboo blowing in the wind. This home is being sold completely furnished including furniture, household items, appliances, even all the beach equipment at no additional cost you. Grocery stores, several restaurants, and gyms are conveniently located within walking distance across the street. *INVESTORS* this is a very profitable TURN-KEY SHORT TERM RENTAL HOME that has been in place for the past 3 years (rental history will be provided upon request). In 2023, average nightly rate was $175/night with 71% occupancy.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 9, 2023 | Sold | ||
| Sold | |||
| Oct 2, 2023 | In contract | - | |
| In contract | |||
| Sep 23, 2023 | Price Decreased |
$439,000
↓ $6K
(1.4%) | |
| Price Decreased | |||
| Sep 8, 2023 | Price Decreased |
$445,000
↓ $5K
(1.1%) | |
| Price Decreased | |||
| Aug 29, 2023 | Relisted | $450,000 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017