Updated Furnished
For Sale
Under Contract
$669,000
3710 IROQUOIS Avenue, Sarasota, FL 34234
Residential Income, SARASOTA, FL
Property Size1,704 SF
Lot Size0.13 Acres
Price / SF$392.61
Days on Market217
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 1, Bedroom 3, Bathroom 3, Bedroom 4, Dining Room, Bathroom 4, Bathroom 2, Bedroom 2, Bathroom 1
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 Under Contract
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: Sep 3
Last Checked: Sep 3 at 3:06PM
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.
This 1,704-square-foot duplex contains two independent residences, each measuring 852 square feet with 2 bedrooms and 1 bath. Both units include living and dining areas, updated kitchens, remodeled bathrooms, central air, electric heat, and in-unit laundry. Furnishings convey with the property, supporting a furnished rental operation. Separate utilities, private entrances, and individual mailboxes provide functional independence between the residences.
Originally built in 1972, the property received interior renovations in 2017 and substantial exterior and systems improvements in 2020, including stucco, roof, windows, flooring, kitchens, and bathrooms. One air-conditioning system was replaced in 2024. The 0.13-acre site has block and stucco construction, a shingle roof, public water, public sewer, and sidewalk access. It is located at 3710 and 3712 Iroquois Avenue in Sarasota, near Downtown Sarasota, the Ringling Museum District, bayfront parks, US-41, beaches, and major employment corridors.
Originally built in 1972, the property received interior renovations in 2017 and substantial exterior and systems improvements in 2020, including stucco, roof, windows, flooring, kitchens, and bathrooms. One air-conditioning system was replaced in 2024. The 0.13-acre site has block and stucco construction, a shingle roof, public water, public sewer, and sidewalk access. It is located at 3710 and 3712 Iroquois Avenue in Sarasota, near Downtown Sarasota, the Ringling Museum District, bayfront parks, US-41, beaches, and major employment corridors.
Key Highlights
- Duplex totaling 1,704 square feet on a 0.13‑acre site
- Two 852‑square‑foot units, each with 2 bedrooms and 1 bath
- Separate utilities, private entrances, individual mailboxes, and in‑unit laundry
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 - Two independent residences feature separate utilities, in-unit laundry, and functional living and dining areas.
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: Duplex totaling 1,704 square feet on a 0.13‑acre site; Two 852‑square‑foot units, each with 2 bedrooms and 1 bath; Separate utilities, private entrances, individual mailboxes, and in‑unit laundry
