$449,777
3731 PAPAI DRIVE, SARASOTA, FL 34232
Beds
5
Baths
2
Sq Ft
1,818 sq ft
Year Built
1960
Lot Size
0.18 acres
Garage
—
About This Property
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!
Property Overview
Interior Features
Exterior & Lot
Utilities
Parking
HOA & Community
Financial Details
Schools
Directions
From the intersection of McIntosh Rd and Bee Ridge Rd: Head East on Bee Ridge Rd. Make a left on to Crest Ridge Dr. then an immediate left on Lahaina Dr. The road will wrap you to the right which becomes Papai Dr. Property will be down 7 properties on the right.
Location
3731 PAPAI DRIVE, SARASOTA, FL 34232
Listing Information
Schedule a Tour
Pick a Day
Preferred Time
Home Price
$449,777
Loan Term
Nearby Schools
How to Buy This Home
Multiple financing options available for this $449,777 home in SARASOTA.
🏛️
FHA Loan
$15,742 Down
Government-backed, low down payment. Credit scores as low as 580.
🎖️
VA Loan
$0 Down
Zero down for eligible veterans, active duty, and military families.
🏦
Conventional
$22,489 Down
Traditional financing. As low as 3-5% down with good credit.
Florida Down Payment Assistance Programs
You may qualify for up to $35,000 in assistance to cover your down payment and closing costs.
Florida Hometown Heroes
Up to $35,000
First-time buyers working in FL
FL Assist
Up to $10,000
FHA, VA, or USDA borrowers
FL HLP Second Mortgage
Up to $10,000
First-time buyers, 0% deferred
Sarasota County SHIP
Varies
Income-qualifying Sarasota residents
Can You Afford This Home?
Quick check based on the 28% debt-to-income rule. Not a guarantee — just a starting point.
More Homes in Sarasota
More Homes in Sarasota
Listing information is deemed reliable but not guaranteed. All measurements and data should be independently verified. This information is provided by the Stellar MLS. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed. 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 last updated: August 12, 2026.