Renovated Residential Income
For Sale
$190,000
5061 BARRINGTON Circle, Sarasota, FL 34234
Residential, SARASOTA, FL
Property Size1,078 SF
Price / SF$176.25
Days on Market184
Property Features for 5061 BARRINGTON Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Dining Room, Bedroom 1, Bathroom 1
Parking features
Assigned
Patio and Porch features
Porch
Pets allowed
Cats OK, Dogs OK, Size Limit
Interior features
Ceiling Fans(s), Crown Molding, Eat-in Kitchen, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Stone Counters, Walk-In Closet(s)
Exterior features
Garden
Appliances
Cooktop, Dishwasher, Disposal, Dryer, Exhaust Fan, Gas Water Heater, Kitchen Reverse Osmosis System
Subdivision
BARRINGTON WOODS
Directions
FROM I-75: exit University Pkwy, head toward SRQ. Right in front of SRQ, turn south on Old Bradenton Rd. Turn right (West) onto Mecca. After another couple of blocks, see the entrance to Barrington Woods on the left. Enter and veer right. Pass the beautiful lake, and find 5061 on the right side of road (and right side of the duplex) 3rd house from the pond. Park in front carport for 5061. (Note that the uncovered spaces are available for guests and additional cars) FROM DOWNTOWN SARASOTA: make your way to Old Bradenton Road and Myrtle Rd and head north towards the airport. (I don't recommend approaching from Tamiami Trail). Turn left (West) onto Mecca. After another couple of blocks, see the entrance to Barrington Woods on the left. Enter and veer right. Pass the beautiful pond, and find 5061 on the right side of road (and right side of the duplex) 3rd house from the pond. Park in front carport for 5061. (Note that the uncovered spaces are available for guests and additional cars)
Standard status
Active
APN
2001101026
Size
1,078 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 1302 BARRINGTON WOODS
Tax Annual Amount
2389
Legal Description
UNIT 1302 BARRINGTON WOODS
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
pool
gated
Building Details
Year built
1982
Floors in Building
1
Flooring type
Laminate, Wood
Building materials
Wood Siding
Roof type
Shingle
Architectural style
Cottage, Bungalow
Listing Agency:
REALNET FLORIDA REAL ESTATE
(813) 288-8000
Listed By:
Brenda Carey · License #3641372
(323) 447-8600
Added: Mar 1
Changed: Aug 31
Last Checked: Sep 1 at 2:06AM
MLS# A4684564
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 1,078-square-foot residential income property offers two bedrooms and two bathrooms within the gated Barrington Woods community. The 1982 condominium has been renovated with quartz kitchen countertops, white cabinetry, stainless appliances, laminate flooring, crown molding, and filtered water systems in the kitchen and bathrooms. A fully enclosed Florida room extends the living area, while the primary suite includes a walk-in closet and updated bath access. The home also provides an in-unit washer and dryer, front porch, secured outdoor storage closet, and assigned parking beneath a carport.
Community features include lawn maintenance, landscaped grounds with irrigation, guest parking, and a pool reached by a pedestrian bridge over the lake. Building updates include a new roof and A/C unit in 2022, along with hurricane windows and refreshed interior and exterior paint. The property is located in Sarasota near the FSU Center for Performing Arts, Ringling Museum, New World College, Asolo Theater, and SRQ, with stated drive times of 10 minutes to downtown, 15 minutes to St. Armands Circle/Lido Key Beach, and 20 minutes to Siesta Key.
Community features include lawn maintenance, landscaped grounds with irrigation, guest parking, and a pool reached by a pedestrian bridge over the lake. Building updates include a new roof and A/C unit in 2022, along with hurricane windows and refreshed interior and exterior paint. The property is located in Sarasota near the FSU Center for Performing Arts, Ringling Museum, New World College, Asolo Theater, and SRQ, with stated drive times of 10 minutes to downtown, 15 minutes to St. Armands Circle/Lido Key Beach, and 20 minutes to Siesta Key.
Key Highlights
- 1,078 SF condominium with 2 bedrooms and 2 bathrooms
- Renovated kitchen with quartz counters, stainless appliances, pantry, and reverse osmosis filtration
- New roof and A/C unit installed in 2022
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
$13,044
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
6.87%
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%
$260,880
$260.9K
Cap Rate 7%
$186,343
$186.3K
Cap Rate 9%
$144,933
$144.9K
Market Conditions
NOI Build-Up for 1,078 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
$25.1K $23.28/SF
− Vacancy
−$1.4K −$1.28/SF
EGI
$23.7K $22.00/SF
− OpEx
−$10.7K −$9.90/SF
NOI
$13.0K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /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%
$260,880
Cap Rate 7%
$186,343
Cap Rate 9%
$144,933
Alternative Uses
Best Use
Apartment 5plus
$186.3K
$163.1K – $217.4K
NOI $13,044 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$317.0K
$277.4K – $369.8K
NOI $22,190 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
358
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom condominium with a screened Florida room, assigned covered parking, pool access, and gated community setting.
Where is this residential income property located?
The property is located at 5061 BARRINGTON Circle Sarasota, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,078 SF condominium with 2 bedrooms and 2 bathrooms; Renovated kitchen with quartz counters, stainless appliances, pantry, and reverse osmosis filtration; New roof and A/C unit installed in 2022
