1516 Olympia Rd · South Venice, FL 34293

$285,000

2 bd · 2.0 ba · 1,085 sqft · SingleFamily public records · 194 Days on market

Built 1975 8,000 sqft lot

---

Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a great value! This home is located close to the Gulf, Tamiami Trail and State Parks. 2 carpeted bedrooms, 2 full baths featuring glass block, and spacious backyard. This is a Fannie Mae HomePath property and subject to First Look Program. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and Homepath Renovation Financing.

Key facts

• 200 sq ft wood shed
• Split floor plan
• Built in fire pit

Tags

• SPLIT FLOOR PLAN
• HAND CRAFTED WOOD FENCE
• 200 SQ FT WOOD SHED
• BUILT IN FIRE PIT
• RAISED AREA FOR PLANTS
• MATURE LANDSCAPING

Property features AI

Finance

• Other: Living area approximately 1,267 (estimated); Lot roughly 0.18 acres (approx. 80 x 100); No homestead indicated; Zoning: RSF3; Property ID available
• Financial info: Lease restrictions apply
• HOA & community: No homeowners association indicated; Pets allowed

Exterior

• Parking: Driveway; Garage door opener; Attached garage with 1 garage space
• Utilities: Well water; Septic tank; Cable connected; Electricity connected
• Home design: Single family residence; Residential property; One story; Southwest facing; Entry level: One
• Construction: Block construction; Shingle roof; Slab foundation; Built area (public records): 1,694 total building area
• Exterior features: Private mailbox; Sliding doors; Storage; Shed(s); Private paved lot; Public maintained paved road; Street lights (community)

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Disposal
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Thermostat; Florida room
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (24.2% below list).
• Recommended offer: $216k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, amenities F, commute F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 1247 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $34k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $285k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,171 (24.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.25×
• Total profit: $-59,646
• Equity at exit: $42,494

10-year hold

• IRR: -22.4%
• Equity multiple: -0.03×
• Total profit: $-82,270
• Equity at exit: $24,642

Cash invested: $79,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34293

• Rents YoY: 0.7%
• Active inventory: 1247
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,162 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$228 /mo · $2,740/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $-134

Break-even live

Break-even rent $2,331

Max offer price $261,348

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   price $285,000
3. 2026-04-19
   status Active
4. 2026-04-17
   historical
5. 2026-03-11
   price $294,000
6. 2025-12-29
   price $299,000
7. 2025-12-13
   price $308,900
8. 2025-10-17
   listed $319,000 Active
9. 2022-02-11
   price $2,400
10. 2013-08-22
    soldstatus $110,112 377-char remark

    Show marketing remark (377 chars)

    What a great value! This home is located close to the Gulf, Tamiami Trail and State Parks. 2 carpeted bedrooms, 2 full baths featuring glass block, and spacious backyard. This is a Fannie Mae HomePath property and subject to First Look Program. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and Homepath Renovation Financing.

11. 2013-03-07
    listed $104,900 377-char remark

    Show marketing remark (377 chars)

    What a great value! This home is located close to the Gulf, Tamiami Trail and State Parks. 2 carpeted bedrooms, 2 full baths featuring glass block, and spacious backyard. This is a Fannie Mae HomePath property and subject to First Look Program. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and Homepath Renovation Financing.

12. 2005-11-18
    soldstatus $249,500
13. 1994-03-11
    soldstatus $65,000
14. 1992-09-21
    soldstatus $57,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,740 · $228/mo
• Projected year-2 tax: $2,740 · $228/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,941
• − Mortgage interest: −$15,964
• − Property taxes: −$2,740
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,075
• − Management: −$2,075
• − Depreciation: −$8,291
• Taxable loss: −$6,630
• Est. tax savings @ 24.0%: +$1,591
• After-tax cash flow: $-15/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

Amenities F Commute F Cost of living A- Crime A- Employment B- Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• Metro: North Port-Sarasota-Bradenton, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+393.9% since first listed

14 events — show timeline

• 2026-05-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $285,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $294,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-29 Price Changed $299,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-13 Price Changed $308,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-17 Listed $319,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-11 Price Changed $2,400 RENT.
• 2013-08-22 Sold (MLS) $110,112 Stellar MLS as Distributed by MLS Grid
• 2013-03-07 Listed $104,900 Stellar MLS as Distributed by MLS Grid
• 2005-11-18 Sold (Public Records) $249,500 Public Records
• 1994-03-11 Sold (Public Records) $65,000 Public Records
• 1992-09-21 Sold (Public Records) $57,700 Public Records

Property tax history

+10.9%/yr

Latest (2025): $2,740 · +2.2% YoY. Source: county tax records.