Real Estate Investing in Sarasota, Florida (34238)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 34238 (Sarasota, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 19.1% of homes vacant — above national norms.
- 1-year downturn: Values declined 3.9% in the last year.
What’s happening in Sarasota, FL (34238)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 34238 Sarasota
The 34238 ZIP covers a section of Sarasota that demands careful diligence. Prices near $497K look accessible, but the work to make a deal cash flow is real.
Rent of $1,991/mo on a $497K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 34238 sits below the stated 0.0% once reality is priced in.
Within FL, ZIP 34238 trails on several market indicators that neighboring Sarasota County submarkets outperform. The gap is real and robust enough to shape underwriting.
The 34238 ZIP's population of 22,808 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Distressed ZIPs reward experience. robust returns are possible in 34238, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Sarasota:
Property Strategy for 34238
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $152,824 | $2,020 | 9.5% | +6.5% | $152,824 |
| 2BR | $344,834 | $2,350 | 4.9% | +6.0% | $172,417 |
| 3BR | $559,096 | $3,040 | 3.9% | +6.8% | $186,365 |
| 4BR | $733,357 | $3,630 | 3.6% | +7.3% | $183,339 |
| 5BR | $873,783 | — | — | +8.6% | $174,757 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 34238 Compare?
| Metric | 34238 | Sarasota | North Port-Sarasota-Bradenton, FL | Florida |
|---|---|---|---|---|
| Home Value | $497,334 | $474,987 | N/A | $374,697 |
| 5-Year CAGR | 3.0% | 3.6% | N/A | 7.4% |
| Avg Rent | $1,991 | $2,236 | N/A | - |
| Cap Rate | 3.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 34238 (Sarasota, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 34238 (Sarasota, FL)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Sarasota County
Manage rentals here? List your business →All County Pros is a full-service residential property management company in Sarasota, FL, serving Sarasota and Bradenton, focused on maximizing rental property revenue. summary from their website
Gulf Coast Property Management serves investors in Manatee & Sarasota counties, offering annual, vacation, and association management, as well as home watch services. summary from their website
Paradise Palms Property Management offers residential, multi-family, commercial, and vacation rental management services in Lakewood Ranch, FL. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $497,334 |
| Monthly Rent | $1,991 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | -3.9% ▼ |
| 3-Year CAGR | -5.0% ▼ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +3.6% ▲ |
🏠 Rent Trends
| 1-Year | -1.8% ▼ |
| 3-Year CAGR | -2.2% ▼ |
| 5-Year CAGR | +2.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 34238
Population: 22,808
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 34238
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
PINE VIEW SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 729 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Sarasota, FL?
In Sarasota, FL the median home value sits at $497K. Against the broader FL market, that reads as reasonable for most investors.
What is it like being a landlord in Sarasota, FL?
FL ranks as a landlord-friendly state for landlord-tenant law. Sarasota generally follows the statewide framework, so landlords face reasonable operating rules.
How quickly do rentals get leased in Sarasota, FL?
Vacancy risk in Sarasota, FL is elevated. That supports predictable cash flow for typical rental holds.
Does house hacking work in Sarasota, FL?
House hacking in Sarasota, FL is reasonable to execute. Prices around $497K and rents of $1,991/mo solid owner-occupant economics.
What is the smart move for investors in Sarasota, FL?
In Sarasota, FL the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $497K prices and $1,991/mo rents suits that approach.
You know 34238 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 34238 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 34238 ranks in North Port-Sarasota-Bradenton, FL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 34238 (Sarasota)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 34238 (Sarasota, FL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.