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About this home
3731 Papai Dr is a 1960-built home in Ridgewood Estates Add 01 Resub, Sarasota. Inside you'll find 5 bedrooms, 2 bathrooms, and 1,818 square feet of living space. Listed at $449,777 (about $247/sqft), 120 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
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!
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The essentials
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Details
Districts can re-zone, so verify directly with the district before relying on these.
Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$449,777
$247 per sq ft
Beds and baths
5 beds, 2 baths
Size
1,818 sq ft
Time on market
120 days
Year built
1960
Monthly payment
About $2,889/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $3,818 annual tax bill, insurance.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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