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2667 CHERYLE LANE
About This Property
This isn't a cosmetic flip - the systems are new. The home was fully replumbed from the street in (water and sewer), completely rewired with a new electrical panel, switches, and outlets, and fitted with a new AC unit and ductwork, a new water heater, and a new flat roof. New exterior doors and sliding glass door, and updated windows in the primary bedroom.
Inside, the kitchen was totally renovated with new cabinetry, an induction range, and new appliances. Both bathrooms were gut-renovated to the studs. New bamboo hardwood flooring runs throughout, finished with all-new lighting fixtures and ceiling fans. The flexible den works as a home office, fourth sleeping space, or media room - a plus for rental bookings. Inside laundry room.
Out back is the feature that sets this home apart in the neighborhood: a large in-ground heated pool, fully resurfaced with a new multicolor LED light, new variable-speed pump, and all-new paver deck, on a fully fenced lot with a storage shed. A covered carport and long driveway park three cars off the street.
Located inside Sarasota city limits - where short-term rentals are permitted - with no HOA, no deed restrictions, and not in a FEMA flood zone. Steps from the Legacy Trail, and a short drive to downtown, Siesta Key, Southside Village, Sarasota Memorial, and Ed Smith Stadium. Zoned for Alta Vista Elementary and Sarasota High.
Furnishings, bookings, and rental history convey - buy a business that's already running, or a home where the hard work is already done.
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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 |
|---|---|---|---|
| Sep 7, 2026 | Listed by THE SHORELINE FL REALTY LLC | $675,000 | |
| Listed by THE SHORELINE FL REALTY LLC | |||
| Dec 9, 2024 | Sold | ||
| Sold | |||
| Nov 2, 2024 | In contract | - | |
| In contract | |||
| Oct 31, 2024 | Price Decreased |
$375,000
↓ $24K
(6%) | |
| Price Decreased | |||
| Sep 17, 2024 | Relisted | $399,000 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017