Income-Generating Duplex With Updated
993 Gary Street A & B Sarasota, FL 34234
New
993 Gary Street A & B, Sarasota, FL, 34234
$460,000
For Sale
$460,000
Duplex in flood zone X with two 2-bedroom, 1-bath units, screened lanais, private laundry, and covered carports with storage.
Property Size1,679 SF
Price / SF$273.97
Days on Market2
Property Features for 993 Gary Street A & B
General Information
- Standard status
- Active
- Size
- 1,679 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1958
Listing agency
DALTON WADE INC
(503) 858-3756
Listed by
Marius Mocan · License #3517085
Source
Whitesandsfl
Added: Jul 20 Updated: Jul 21 at 3:35AM Checked: Jul 21 at 3:35AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
Exceptional income-producing duplex within Sarasota city limits, located in Flood Zone X where no flood insurance is required. The property is constructed with solid block and features two private units, each with 2 bedrooms and 1 bathroom. Interiors include updated kitchens with shaker cabinetry and quartz countertops, restored terrazzo flooring, open-concept living areas, and private laundry rooms. Each unit offers a screened lanai and a covered carport with locked storage, and the units do not share a common wall or yard space.
The duplex is directly across from North Water Tower Park and its paved walking trails, disc golf course, playground, covered picnic areas, public restrooms, and water bottle filling station. According to the City of Sarasota permitting website, the occupancy use is listed as R1 Hotels/Motels/Boarding House.
Major capital improvements completed within the past seven years include the roof, dual HVAC systems, and water heaters. The property also includes separate utilities, supporting flexible rental use. Unit B has operated as a short-term rental through Airbnb and VRBO since January 2026, and Unit A is currently owner-occupied.
The duplex is directly across from North Water Tower Park and its paved walking trails, disc golf course, playground, covered picnic areas, public restrooms, and water bottle filling station. According to the City of Sarasota permitting website, the occupancy use is listed as R1 Hotels/Motels/Boarding House.
Major capital improvements completed within the past seven years include the roof, dual HVAC systems, and water heaters. The property also includes separate utilities, supporting flexible rental use. Unit B has operated as a short-term rental through Airbnb and VRBO since January 2026, and Unit A is currently owner-occupied.
Key Highlights
- Duplex in Sarasota city limits in Flood Zone X, with separate units (no shared common wall or yard space) for added privacy.
- Each unit offers 2 bedrooms and 1 bathroom plus updated kitchens with shaker cabinetry and quartz countertops, and restored terrazzo flooring.
- Units include private laundry rooms, screened lanais, and covered carports with locked storage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.2k | $19.80 |
| − Vacancy | −$1.7k | −$1.03 |
| EGI | $31.5k | $18.77 |
| − OpEx | −$9.5k | −$5.63 |
| NOI | $22.1k | $13.14 |
1,679 SF · lease $19.80/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,056 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$290.2K
$254.0K – $338.6K
NOI $20,316 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$493.7K
$432.0K – $576.0K
NOI $34,562 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex in flood zone X with two 2-bedroom, 1-bath units, screened lanais, private laundry, and covered carports with storage.
Where is this duplex located?
The property is located at 993 Gary Street A & B Sarasota, FL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Duplex in Sarasota city limits in Flood Zone X, with separate units (no shared common wall or yard space) for added privacy.; Each unit offers 2 bedrooms and 1 bathroom plus updated kitchens with shaker cabinetry and quartz countertops, and restored terrazzo flooring.; Units include private laundry rooms, screened lanais, and covered carports with locked storage.
