5815 FAIRWOODS CIRCLE
About This Property
Welcome to Fairway Lakes in Palm Aire, where mature landscaping and a convenient Sarasota location create a wonderful place to call home. This 3-bedroom, 2-bath residence offers 2,003 square feet of living space, a two-car garage, and a screened lanai with a saltwater pool overlooking the golf course. Vaulted ceilings give the living and family rooms an open, airy feel, while a two-sided wood-burning fireplace adds warmth and character. French doors lead to the lanai, inviting you to enjoy the pool and golf course view from morning to evening.
The RENOVATED KITCHEN opens to the living area and features natural quartzite countertops, premium wood cabinetry, soft-close drawers, upgraded stainless steel appliances, a vented hood, and generous storage. A separate island houses the microwave drawer, while a breakfast area offers a casual spot for everyday meals. One of the three bedrooms can serve as a den or office. Other details include custom pocket doors, custom bamboo roller shades with blackout lining in the kitchen, ceiling fans, a NEW WATER HEATER, and a NEWER ELECTRICAL PANEL.
Fairway Lakes offers maintenance-free landscaping, with internet and cable TV included in the quarterly HOA fees. Nearby Palm Aire Country Club offers two 18-hole golf courses, tennis and pickleball courts, and a heated pool; membership is available but not required. With the UTC Mall, restaurants, healthcare, SRQ Airport, and downtown Sarasota close by, the location is every bit as appealing as the view.
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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%.
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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 5, 2026 | Price Decreased |
$529,900
↓ $20K
(3.6%) | |
| Price Decreased | |||
| Oct 24, 2026 | Relisted | $549,900 | |
| Relisted | |||
| Oct 19, 2026 | In contract | - | |
| In contract | |||
| Oct 8, 2026 | Listed by BERKSHIRE HATHAWAY HOMESERVICE | $549,900 | |
| Listed by BERKSHIRE HATHAWAY HOMESERVICE | |||
| Jul 10, 2023 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017