Residential Income
For Sale
$249,999
1764 24TH STREET, Sarasota, FL 34234
RSF4-zoned property built in 1961 in Sarasota County.
Property Size1,599 SF
Price / SF$156.35
Days on Market51
Property Features for 1764 24TH STREET
General Information
Standard status
Active
Size
1,599 SF
Property subtype
Duplex
Amenities
0.13 acres, Dimensions: 50x115
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 2024020046, Public Survey Range: 18E, Public Survey Section: 18, Annual Amount: $2,444.23, Tax Block: 6, Tax Book Number: A-53, Legal Description: LOT 11 BLK 6 NEWTOWN SUB, Lot: 11, Year: 2025, Zoning: RSF4
Listing ID: MFRTB8536167, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-05, 17 days on market, Special Conditions: None
2 carport spaces
4 total bedrooms
Built in 1961, Living area: 1599, Living area units: Square Feet, Construction Materials: Block, Concrete
Subdivision: NEWTOWN, MLS Area (Major): 34234 - Sarasota, County/Parish: Sarasota
2 total bathrooms
Water Source: Private
Slab
Close Of Escrow
Road Surface: Asphalt, Concrete
Building Details
Year Built
1961
Listing Agency:
RICHARD PETERS REALTY LLC
(786) 418-1388
Listed By:
Ronald Ryder · License #3593068
(305) 302-9806
Source:
Miharaandassociates
Added: Aug 5
Changed: Sep 23
Last Checked: Sep 24 at 9:24AM
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 RICHARD PETERS REALTY LLC
Investment Insights
Based on property information with market context.
This residential income property is located at 1764 24th Street in Sarasota, Florida. The property carries RSF4 zoning and was constructed in 1961. Access is provided from 24th Street, with US-41 S / N Tamiami Trail identified along the route to the property.
Key Highlights
- RSF4 zoning designation
- Constructed in 1961
- Located at 1764 24th Street in Sarasota, Florida
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
$14,562
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
5.82%
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%
$291,240
$291.2K
Cap Rate 7%
$208,029
$208.0K
Cap Rate 9%
$161,800
$161.8K
Market Conditions
NOI Build-Up for 1,599 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
$29.5K $18.48/SF
− Vacancy
−$3.1K −$1.92/SF
EGI
$26.5K $16.56/SF
− OpEx
−$11.9K −$7.45/SF
NOI
$14.6K $9.11/SF
Area
Sarasota County, FL
Vacancy
10.40%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
45.00%
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%
$291,240
Cap Rate 7%
$208,029
Cap Rate 9%
$161,800
Alternative Uses
Best Use
Apartment 5plus
$208.0K
$182.0K – $242.7K
NOI $14,562 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.4K
$397.6K – $530.2K
NOI $31,811 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
854
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
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Frequently Asked Questions
What type of property is this?
Residential income property - RSF4-zoned property built in 1961 in Sarasota County.
Where is this residential income property located?
The property is located at 1764 24TH STREET Sarasota, FL.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: RSF4 zoning designation; Constructed in 1961; Located at 1764 24th Street in Sarasota, Florida
