Longboat Key Townhouse with
549 SUTTON PLACE Longboat Key, FL 34228
549 SUTTON PLACE, Longboat Key, FL, 34228
$378,500
For Sale
$378,500
Affordable 2-bedroom townhouse with deeded garage and Gulf access.
Property Size1,008 SF
Price / SF$375.50
Days on Market571
Property Features for 549 SUTTON PLACE
General Information
- Standard status
- Active
- Size
- 1,008 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1972
Listing Agency
MICHAEL SAUNDERS & COMPANY
(941) 376-5099
Listed by
Malihe Karimi · License #3286618
(941) 376-5099
Source
Exitrealty
Added: Dec 23, 2024 Checked: Jul 15 at 8:54 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
This 2-bedroom townhouse on Longboat Key offers coastal living with Gulf to Bay access. The property includes a deeded covered garage. Located in a pet-friendly community, residents have access to a Gulf beach, a harbor-side pool, and a clubhouse pool. Community amenities include BBQ zones, kayak storage with launch facilities, and boat slip rentals available on a first-come, first-served basis. Private beach access is provided via a gated Gulf beach parking lot at 4415 Gulf of Mexico Drive, featuring a pavilion with picnic tables, restrooms, and showers. The updated townhouse is offered turn-key and move-in ready, with no storm damage. The townhouse includes a stacked washer and dryer and an extra built-in shower in the garage. The property size is 1008 square feet.
Key Highlights
- Lowest‑priced 2‑bedroom townhouse on Longboat Key.
- Deeded covered garage.
- Gulf to Bay access with boat slip rentals available.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.5k | $23.28 |
| − Vacancy | −$1.3k | −$1.28 |
| EGI | $22.2k | $22.00 |
| − OpEx | −$10.0k | −$9.90 |
| NOI | $12.2k | $12.10 |
1,008 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$174.2K
$152.5K – $203.3K
NOI $12,197 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.4K
$259.4K – $345.8K
NOI $20,749 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Residential income property - Affordable 2-bedroom townhouse with deeded garage and Gulf access.
Where is this residential income property located?
The property is located at 549 SUTTON PLACE Longboat Key, FL.
What is the asking price?
The asking price for this property is $378,500.
What are key features of this property?
This property features: Lowest‑priced 2‑bedroom townhouse on Longboat Key.; Deeded covered garage.; Gulf to Bay access with boat slip rentals available.
