Duplex With Updated Kitchens And
For Sale
$669,000
3710 IROQUOIS Avenue, Sarasota, FL 34234
MULTI_FAMILY - SARASOTA, FL
Property Size1,704 SF
Lot Size0.13 Acres
Price / SF$392.61
Days on Market201
Property Features for 3710 IROQUOIS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSF4
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 1, Dining Room, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Solid Surface Counters, Solid Wood Cabinets
Exterior features
Private Entrance, Private Mailbox, Sidewalk
Subdivision
DESOTO TERRACE
Directions
Tamiami Trai (Rt 41) to Myrtle then west to Iroquois turn right property is on the right.
Standard status
Active
APN
2004150040
Size
1,704 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 18 DE SOTO TERRACE
Tax Annual Amount
7160
Legal Description
LOT 18 DE SOTO TERRACE
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1972
Number of units
2
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ON THE WATER S · Keller Williams Realty
(941) 803-7522
Listed By:
Andy Scherer · License #3325448
(315) 264-0944
Added: Jan 29
Changed: Aug 17
Last Checked: Aug 18 at 12:06AM
MLS# A4679926
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained, income-producing duplex at 3710–3712 Iroquois Avenue in Sarasota, offering two independently operating units. Each unit is configured with two bedrooms and one bath and includes updated kitchens and remodeled baths, plus efficient living and dining spaces. Interior renovations were completed in 2017, followed by substantial capital improvements in 2020, including new stucco, roof, windows, flooring, kitchens, and baths. One A/C was replaced in 2024. Each unit has separate utilities and includes in-unit laundry, supporting independent day-to-day operations. Furnishings convey to support a turnkey transition.
The property sits on a 0.13-acre lot and is built with block and stucco construction, with central air cooling and electric heating. Water is provided by public sources and the sewer connection is public sewer. Zoning is RSF4, and there is no HOA and no CDD.
With each unit sized at 852 square feet, the layout is designed for practical everyday living, backed by recent interior and exterior updates.
The property sits on a 0.13-acre lot and is built with block and stucco construction, with central air cooling and electric heating. Water is provided by public sources and the sewer connection is public sewer. Zoning is RSF4, and there is no HOA and no CDD.
With each unit sized at 852 square feet, the layout is designed for practical everyday living, backed by recent interior and exterior updates.
Key Highlights
- RSF4 duplex with separate utilities and in‑unit laundry for independent operations
- Two units, each with 2 bedrooms, 1 bath, and 852 square feet
- Renovations completed in 2017, followed by 2020 improvements including stucco, roof, windows, flooring, kitchens, and baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,385
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$447,700
$447.7K
Cap Rate 7%
$319,786
$319.8K
Cap Rate 9%
$248,722
$248.7K
Market Conditions
NOI Build-Up for 1,704 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.7K $19.80/SF
− Vacancy
−$1.8K −$1.03/SF
EGI
$32.0K $18.77/SF
− OpEx
−$9.6K −$5.63/SF
NOI
$22.4K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$447,700
Cap Rate 7%
$319,786
Cap Rate 9%
$248,722
Alternative Uses
Best Use
Multifamily LT 5
$319.8K
$279.8K – $373.1K
NOI $22,385 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$294.5K
$257.7K – $343.6K
NOI $20,618 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$501.1K
$438.5K – $584.6K
NOI $35,076 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex in RSF4 zoning with separate utilities and in-unit laundry for efficient resident operations.
Where is this duplex located?
The property is located at 3710 IROQUOIS Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: RSF4 duplex with separate utilities and in‑unit laundry for independent operations; Two units, each with 2 bedrooms, 1 bath, and 852 square feet; Renovations completed in 2017, followed by 2020 improvements including stucco, roof, windows, flooring, kitchens, and baths
