Tenant-Occupied Residential
For Sale
$147,500
4631 SUMMERWIND DRIVE #16, Sarasota, FL 34234
Two-bedroom, two-bath condominium with income in place and access to community amenities.
Property Size966 SF
Price / SF$152.69
Days on Market51
Property Features for 4631 SUMMERWIND DRIVE #16
General Information
Standard status
Active
Size
966 SF
Property subtype
Duplex
Building Details
Year Built
1983
Listing Agency:
UPTOP REAL ESTATE SERVICES, LLC
(941) 554-4896
Listed By:
Adam Kabinoff · License #3296124
(941) 803-7522
Source:
Endlesssummerrealty
Added: Sep 2
Changed: Oct 21
Last Checked: Oct 20 at 9:08PM
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 UPTOP REAL ESTATE SERVICES, LLC
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Investment Insights
Based on property information with market context.
This 966-square-foot, two-bedroom, two-bath condominium is currently leased, with occupancy established through 2028. The residence is positioned on the west side of the Summer Wind community and includes direct access to a private park. The property was built in 1983.
Recent community improvements include a 2023 roof replacement, 2018 exterior paint and trim work, an upgraded pool area, a landscaped entrance, and a resurfaced driveway. Association services include the community pool, exterior and grounds maintenance, pest control, water, sewer, and trash.
The condominium is located at 4631 Summerwind Drive in Sarasota, approximately 5 minutes from SRQ Airport and 10 minutes from downtown Sarasota.
Recent community improvements include a 2023 roof replacement, 2018 exterior paint and trim work, an upgraded pool area, a landscaped entrance, and a resurfaced driveway. Association services include the community pool, exterior and grounds maintenance, pest control, water, sewer, and trash.
The condominium is located at 4631 Summerwind Drive in Sarasota, approximately 5 minutes from SRQ Airport and 10 minutes from downtown Sarasota.
Key Highlights
- 966 SF condominium with 2 bedrooms and 2 bathrooms
- Tenant occupied with income in place through 2028
- West‑end location within Summer Wind with immediate private park access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,797
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,940
$175.9K
Cap Rate 7%
$125,671
$125.7K
Cap Rate 9%
$97,744
$97.7K
Market Conditions
NOI Build-Up for 966 SF
Gross rent
$17.9K $18.48/SF
− Vacancy
−$1.9K −$1.92/SF
EGI
$16.0K $16.56/SF
− OpEx
−$7.2K −$7.45/SF
NOI
$8.8K $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 Rate 5%
$175,940
Cap Rate 7%
$125,671
Cap Rate 9%
$97,744
Alternative Uses
Best Use
Apartment 5plus
$125.7K
$110.0K – $146.6K
NOI $8,797 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.5K
$240.2K – $320.3K
NOI $19,218 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
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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 - Two-bedroom, two-bath condominium with income in place and access to community amenities.
Where is this residential income property located?
The property is located at 4631 SUMMERWIND DRIVE #16 Sarasota, FL.
What is the asking price?
The asking price for this property is $147,500.
What are key features of this property?
This property features: 966 SF condominium with 2 bedrooms and 2 bathrooms; Tenant occupied with income in place through 2028; West‑end location within Summer Wind with immediate private park access
