1 month on rocket

2116 Palm Ter, Sarasota, FL, 34231

$559,000

Home List Price

$6,638*

Closing Credit

0 Baths
1,159 SqFt
$482/SqFt
Multi

Location

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2116 Palm Ter, Sarasota$559,000

Buyer Closing Credits

$6,638*

1.25% Loan Amount

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Property Highlights

Home TypeDuplex
ParkingDriveway, Ground Level, Off Street, Oversized, Parking Pad
Year Built1950
HeatingCentral
CoolingCentral Air
ViewGarden, Trees/Woods
MLS #A4623939
Lot Size0.23 Acres
StatusActive

About 2116 Palm Ter

*Price Improvement, Seller Motivated!* This home remained unaffected by recent storms, with all surrounding debris promptly removed. The exterior and decks have been professionally power washed, ensuring a clean, fresh look that’s ready for new owners to enjoy! Discover an exceptional multi-family duplex located in the heart of Sarasota, with a recent sale of a multifamily home on the same street, this property is attractively priced for the neighborhood, offering a unique opportunity to invest in a highly desirable area with proven market interest. This property is ideally situated on a peaceful two-lane cul-de-sac, featuring beautiful county maintained treed green space, making it perfect for both multi-family living and as a family home with a separate private entrance mother-in-law apartment. This duplex boasts numerous features including central air and heat, a new roof installed in 2021, PVC plumbing, and separate electric meters with upgraded panels. This property presents a remarkable investment opportunity with cap rate that is expected to improve in this high-demand rental neighborhood. The duplex features two distinct units. Unit 1 is a spacious 2 bedroom, showcasing natural red oak floors, Hunter Douglas Cellular Tech shades, and an updated bath complete with floor-to-ceiling porcelain tile, an Italian hand-painted pedestal sink, matching bidet, and a luxurious jetted tub. A discreet laundry closet is conveniently located opposite the bath. The designer chef’s kitchen features high-end stainless steel appliances, butcher block counters, and dramatic porcelain flooring, complemented by an adjacent pantry for added efficiency. Unit 2, a cozy 1 bedroom, feels larger due to its open design and large windows offering lush tropical views. This unit includes a separate driveway and private gated entry, along with a secluded outdoor patio. It features laminate flooring in the main room, floor-to-ceiling ceramic tile in the bath, and high-quality carpet in the bedroom, complete with an jetted tub. The utility lines are all underground, eliminating any overhead wire! Upgraded windows enhance both efficiency and aesthetics. The meticulously landscaped grounds are adorned with mature trees that provide luxurious shade and complete privacy thanks to the fenced yard. Additional outdoor amenities include photovoltaic lighting and separate driveways for generous off-street parking, along with a permitted 100 sq. ft. workshop/storage building with electric. Don’t miss this incredible opportunity to own a beautifully maintained multi-family property in a thriving neighborhood—schedule a showing today!

Property Details

Property Features

Property Information:

  • Year Built: 1950
  • Living Area: 1,159 SqFt

Listing Office:

  • Office Name: SHOWTIME REALTY
  • Office Phone: (941) 822-0890
  • Listing Agent: Melissa Godio

Interior Features

Interior Information:

  • Appliances: Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Ice Maker, Range, Range Hood, Refrigerator, Washer
  • Flooring Type: Carpet, Laminate, Tile, Wood
  • Interior: Ceiling Fans(s), L Dining, Primary Bedroom Main Floor, Thermostat

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: Garden, Trees/Woods
  • Exterior: Fence, Garden, Lighting, Private Mailbox, Rain Gutters, Storage

Parking Information:

  • Parking: Driveway, Ground Level, Off Street, Oversized, Parking Pad

Virtual/3D Tour

  • Virtual Tour: 2116 Palm Ter
Virtual Tour

Lot Features

Lot Information:

  • Lot: Cul-De-Sac, Landscaped, Level, Dead End Street, Paved
  • Lot Size: 0.23 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Continue onto US-41 N/S Tamiami Trail Turn right onto Palm Terrace

Price Information

Listing Price Info

Price Summary:

  • List Price: $559,000
  • Price Per SqFt: $482/SqFt

Tax Information:

  • Annual Amount: $918
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Sarasota, FL.

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Sarasota, FL

City

Med. Sold Price

$520.7K

Med. Price/SqFt

$305

Avg. Days On Market

62

# of Sold Homes

302

2116 Palm Ter vs Sarasota

44 DAYS ON ROCKET

-18 Days

$559,000

+$38.2K More

$482/SqFt

+$177 More

KEY TAKEAWAY

This property is $38.2K more than the Median Sold Price and $177/SqFt more than other homes in Sarasota, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MFRMLS
  • MLS Number: #A4623939

Listing Office:

  • Office Name: SHOWTIME REALTY
  • Office Phone: (941) 822-0890
  • Listing Agent: Melissa Godio

IDX Listings courtesy of Stellar MLS as distributed by MLS GRID.

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 Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/15/2024, 10:19:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 12, 1998Home Sold
$75,000

Tax History

YEARPROP. TAXASSESSMENT
2020$918$31,103
2019$843$30,404
2018$782$29,837
2017$775$29,223

History based on county public records data.

Payment Calculator

$2,857

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,742

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-325933
8
/10

  • Phillippi Shores Elementary School

  • 4747 S Tamiami Trl

  • 0.38 miles

  • Public Magnet Grades PK-5

school-card-donut-325934
10
/10

  • Southside Elementary School

  • 1901 Webber St

  • 1.25 miles

  • Public District Grades PK-5

school-card-donut-325935
5
/10

  • Wilkinson Elementary School

  • 3400 Wilkinson Rd

  • 1.68 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $46,369. Residents of Sarasota, FL typically earn between $35k-100k each year. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Sarasota, FL

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Sarasota, FL?

Sarasota's housing market is diverse, offering a mix of single-family homes, condominiums, and townhouses that cater to a range of preferences and budgets. Architectural styles vary widely, with a notable presence of Mediterranean-inspired designs alongside modern and contemporary structures. The area has seen a steady growth in new developments, particularly in the condominium sector, which adds a modern touch to the city's skyline.

Is Sarasota, FL a good place to live?

Sarasota prides itself on its vibrant arts scene and cultural richness, with numerous galleries, theaters, and the renowned Ringling Museum of Art. The community's character is further enhanced by its proximity to pristine beaches and a variety of outdoor recreational activities, making it a desirable location for both retirees and families. Annual events like the Sarasota Film Festival and the Sarasota Music Festival celebrate the city's artistic heritage and community spirit.

Are things conveniently located in Sarasota, FL?

The city is served by a robust educational system, including multiple public and private schools that offer a range of educational programs. Sarasota Memorial Hospital stands as a major healthcare provider, offering comprehensive services from emergency care to specialized treatments. The public library system is well-established, providing residents with access to a wealth of knowledge and resources. Retail and dining options are plentiful, reflecting the local culture with a blend of international cuisines and boutique shopping experiences.

What does the transportation in Sarasota, FL look like?

Sarasota's transportation network includes a variety of options for residents and visitors. The Sarasota County Area Transit (SCAT) provides bus services with routes covering key areas of the city. For those who prefer private transport, ride-sharing services like Uber and Lyft are readily available. The city is also connected by several major roads, including Interstate 75 and U.S. Route 41, facilitating travel to nearby cities and attractions. Efforts to enhance walkability and bikeability are evident in the downtown area and along the scenic waterfront.

Rocket Homes›Florida›Sarasota County›Sarasota›34231›2116 Palm Ter

This home is located at 2116 Palm Ter in Sarasota, FL and zip code 34231. This 1,159 square foot home, which was built in 1950, sits on a 0.23 acre lot. It has been listed on Rocket Homes since October 02, 2024 and is currently priced at $559,000.

In October 2024 more than 13 listings in Sarasota, FL were sold above the asking price. During the same period more than 47 listings were sold at asking price, while more than 242 were sold below. Between September 2024 and October 2024, Sarasota, FL real estate market has seen decrease in the number of listings by 0.8%. Listings spent 62 days on the market in October 2024, and had a median list price of $520,718 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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