Duplex with Two-Story Rear
For Sale
$449,000
Pending
2564 WOOD Street, Sarasota, FL 34237
MULTI_FAMILY - SARASOTA, FL
Property Size2,118 SF
Lot Size0.21 Acres
Days on Market102
Property Features for 2564 WOOD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSF4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2
Interior features
Ceiling Fans(s)
Exterior features
French Doors
Appliances
Cooktop, Dryer, Refrigerator, Washer
Subdivision
HUDSON PARK
Elementary school
Alta Vista Elementary
Middle school
Brookside Middle
High school
Sarasota High
Directions
RT 75 to Take the Fruitville Exit, head West to Left on to S Tuttle Ave. Right on Wood Street. 2564 Wood St. on the Left.
Standard status
Pending
APN
2034020075
Size
2,118 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 33.33 FT OF LOT 15 & W 33.33 FT OF LOT 17 BLK E HUDSON PARK
Tax Annual Amount
5488
Legal Description
E 33.33 FT OF LOT 15 & W 33.33 FT OF LOT 17 BLK E HUDSON PARK
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
screened lanai
covered carport
shared laundry
extra storage
Building Details
Year built
1958
Flooring type
Laminate, Tile, Terrazzo
Building materials
Block
Listing Agency:
KELLER WILLIAMS SUBURBAN TAMPA · Keller Williams Realty
(813) 684-9500
Listed By:
Aaron Wittenstein · License #3557079
(941) 299-1151
Added: May 8
Changed: Aug 17
Last Checked: Aug 17 at 11:06PM
MLS# A4693167
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.
This duplex property includes two distinct residences on the same lot: a main home and a rear dwelling. The main home offers two bedrooms, one full bath, and a den, along with an eat-in kitchen and a screened lanai. A covered carport and shared laundry are described as steps away, and ceiling fans and French doors are noted among the interior/exterior features.
The rear dwelling is presented as a fully independent two-story residence with its own driveway and its own entrance. It includes two bedrooms and one bath, with a split layout across two floors. Additional on-site storage is described as suitable for a boat, trailer, or RV.
The property is built with block construction and is served by public water and public sewer. Heating is electric, with central air plus window or wall/window unit cooling noted. Built in 1958, the lot size is 0.21 acres and the property size is 2,118 square feet. Zoned RSF4.
The rear dwelling is presented as a fully independent two-story residence with its own driveway and its own entrance. It includes two bedrooms and one bath, with a split layout across two floors. Additional on-site storage is described as suitable for a boat, trailer, or RV.
The property is built with block construction and is served by public water and public sewer. Heating is electric, with central air plus window or wall/window unit cooling noted. Built in 1958, the lot size is 0.21 acres and the property size is 2,118 square feet. Zoned RSF4.
Key Highlights
- Main home with two bedrooms, full bath, den, eat‑in kitchen, and screened lanai
- Rear dwelling operates independently as a two‑story home with its own driveway and entrance
- Covered carport plus shared laundry described as steps away
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
$27,823
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
6.20%
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%
$556,460
$556.5K
Cap Rate 7%
$397,471
$397.5K
Cap Rate 9%
$309,144
$309.1K
Market Conditions
NOI Build-Up for 2,118 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
$41.9K $19.80/SF
− Vacancy
−$2.2K −$1.03/SF
EGI
$39.7K $18.77/SF
− OpEx
−$11.9K −$5.63/SF
NOI
$27.8K $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%
$556,460
Cap Rate 7%
$397,471
Cap Rate 9%
$309,144
Alternative Uses
Best Use
Multifamily LT 5
$397.5K
$347.8K – $463.7K
NOI $27,823 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$366.1K
$320.3K – $427.1K
NOI $25,627 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$622.8K
$545.0K – $726.7K
NOI $43,599 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,940
Businesses Nearby
Explore this area
Business Placement
Demographics for 34237, FL
16,740
Population
9,194
Households
1.8
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
4,292
Density / Sq Mi
$63,133
Median Household Income
$35,044
Median Earnings
$1,524
Median Rent
$234,400
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 - Duplex on a 0.21-acre lot featuring a screened lanai, covered carport, and an independently accessed two-story rear home.
Where is this duplex located?
The property is located at 2564 WOOD Street Sarasota, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Main home with two bedrooms, full bath, den, eat‑in kitchen, and screened lanai; Rear dwelling operates independently as a two‑story home with its own driveway and entrance; Covered carport plus shared laundry described as steps away
