3731 PAPAI DRIVE

SARASOTA, FL 34232

Listing courtesy of RELAX PROPERTY GROUP, LLC · MLS# A4697057

$449,777

Active

Email Facebook

1 / 45

Property Details

Units

Square feet

1,818

Net income / yr

$33,000

MLS#

A4697057

Listed

June 15, 2026

Description

Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot. The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities. Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!

Facts & Costs

Property type: Duplex
Units: 2
Current rent (total): $4,010 / month
Gross income: $48,120 / year
Net income: $33,000 / year
Zoning: RSF3
Year built: 1960
Lot size: 7,800 sq ft
Price per sq ft: $247
Days on market: 107
Private pool: No
Waterfront: No
Community: Ridgewood Estates
Subdivision: RIDGEWOOD ESTATES ADD 01 RESUB
County: Sarasota
Flood zone: X

Monthly & yearly costs

Property taxes: $3,818 / year (2025)

As reported by the listing agent. Verify with the HOA and county.

Construction & systems

Heating: Central
Cooling: Central Air, Wall/Window Unit(s)
Flooring: Tile
Roof: Membrane
Construction: Block, Stucco
Parking: Driveway
View: Trees/Woods

Payment Estimate

$2,592 / month

Principal & interest: $2,274
Property taxes: $318
HOA: $0
Home insurance: enter below

Down payment (20%)$89,955Interest rate (%)Loan termHome insurance ($/year)

Estimate only, not a loan offer. Rate is a starting value; taxes and HOA are as reported by the listing agent. Florida insurance (including flood) varies widely. Ask George for a lender referral.

Location

Features & Amenities

Dishwasher
Range
Range Hood
Refrigerator
Ceiling Fans(s)
Open Floorplan
Thermostat
Fence
Storage

Information deemed reliable but not guaranteed.

Listings courtesy of Stellar MLS as distributed by MLS GRID

Based on information submitted to the MLS GRID as of Sep 30, 2026, 6:45 PM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by MLS GRID.

Some IDX listings have been excluded from this website (this site shows active for-sale and for-rent listings in its service area and honors seller opt-out requests).

Notice a listing that's inaccurate? Email listings@keysofsarasota.com and we'll correct or remove it. See our full IDX / DMCA policy for details.