Two-Unit Duplex with
For Sale
$374,900
1805 MARBETH STREET #1805/1807, Sarasota, FL 34231
Both residences include kitchen appliances and their own washers and dryers.
Property Size1,694 SF
Price / SF$221.31
Days on Market100
Property Features for 1805 MARBETH STREET #1805/1807
General Information
Standard status
Active
Size
1,694 SF
Property subtype
Residential Income
Zoning
RMF1
Property Condition
Severity
Repairs Needed
Evidence
a few thoughtful updates could lift rents
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,772
Amenities
range
refrigerator
washer and dryer
Ceiling Fans(s)
Primary Bedroom Main Floor
Sidewalk
Building Details
Building Size
1,694 SF
Year Built
1979
Stories
1
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Drew Betz · License #3308722
(941) 224-8402
Source:
Debbieheringrealty
Added: Jul 23
Changed: Oct 30
Last Checked: Oct 29 at 7:20PM
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 EXP REALTY LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1979 duplex contains two residences, each with two bedrooms, one bathroom, a range, a refrigerator, and a washer and dryer. The combined living area is 1,694 square feet, and RMF1 zoning applies. A new septic system is being installed.
The property is near Sprouts Farmers Market and Wharf Road Park. A bus stop on Tamiami Trail is also nearby.
The property is near Sprouts Farmers Market and Wharf Road Park. A bus stop on Tamiami Trail is also nearby.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,694 square feet of combined building area
- Range, refrigerator, washer, and dryer in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,312
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,240
$346.2K
Cap Rate 7%
$247,314
$247.3K
Cap Rate 9%
$192,356
$192.4K
Market Conditions
NOI Build-Up for 1,694 SF
Gross rent
$27.4K $16.20/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$24.7K $14.60/SF
− OpEx
−$7.4K −$4.38/SF
NOI
$17.3K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,240
Cap Rate 7%
$247,314
Cap Rate 9%
$192,356
Alternative Uses
Best Use
Multifamily LT 5
$247.3K
$216.4K – $288.5K
NOI $17,312 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$220.4K
$192.8K – $257.1K
NOI $15,427 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$481.4K
$421.3K – $561.7K
NOI $33,701 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include kitchen appliances and their own washers and dryers.
Where is this duplex located?
The property is located at 1805 MARBETH STREET #1805/1807 Sarasota, FL.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,694 square feet of combined building area; Range, refrigerator, washer, and dryer in each residence
