4338 Madeira Ct #3346 · Bee Ridge, FL 34233

$190,000

2 bd · 2.0 ba · 1,003 sqft · Condo public records · 36 Days on market

Built 1988 $464/mo HOA · 22% of rent

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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 +10.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely adorable and pristine condo perfect for a full-time resident or for seasonal use. This 2nd floor updated condo has been loving kept by the current owners who use the place only a few months a year. The kitchen is white, light, and bright with lots of counter space and room for a breakfast table. The floors are either tile or laminate so no carpet here. The bathrooms are as cute as a button and interior full washer and dryer are a huge bonus. Check out the view overlooking the lake and water fountain. The location couldn't be better with easy access to I-75 and only 15 minutes to either Siesta Key beach or downtown. Come see what makes Casa del Sol so special.

Key facts

• Recent updates
• Lake views
• Cathedral ceilings

Tags

• LAKE VIEWS
• CATHEDRAL CEILINGS
• RECENT UPDATES

Property features AI

Finance

• Other: Lease restrictions apply; Unit is sold partially furnished
• Financial info: Monthly condo fee: $465 (also listed as $464.67 monthly / $5,576 annual total fees); Condo fees reported quarterly as $1,394
• HOA & community: Homeowners association (Pinnacle Comm Assoc) with quarterly fees; Association amenities include pool, cable TV, pest control, grounds and structure maintenance, management, escrow reserves fund, insurance and recreational facilities; Association approval required for buyers; Vehicle restrictions apply; Pets allowed (max ~30 lbs)

Exterior

• Parking: Carport with space for 1 vehicle
• Utilities: Public water; Public sewer; Cable available and connected; Underground utilities
• Home design: Residential condominium; 2 total stories (unit on second floor); Faces west; Zoned RMF1
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of a multi-unit building (building number 4338)
• Exterior features: Deck; Enclosed patio/porch; Patio; Porch; Screened areas; Sliding doors; Mature landscaping; Near public transit; Paved roads / driveway; No private waterfront access; views of lake and pond

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric water heater; Eat-in kitchen
• Bedrooms: 2 bedrooms (one located on the second floor)
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral and vaulted ceilings; High ceilings; Ceiling fans; Open floor plan; Eat-in kitchen; Split bedroom layout; Walk-in closets; Window treatments (blinds)
• Laundry & utility: Washer; Dryer; Laundry closet; Inside utility / bonus room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (9.4% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $172k (9.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#370 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: 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.
• Zoned schools: Ashton Elementary School (math 89% / reading 87%, grade A+, #18 of 2,144 statewide, top 1%, 1,046 students, 28% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Zoned-school proficiency averages 76% at this address vs 63% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Sarasota average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.4%/yr); 163 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 36 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $152k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,186 (9.4% 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 36 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.19×
• Total profit: $-43,026
• Equity at exit: $28,330

10-year hold

• IRR: -39.7%
• Equity multiple: -0.28×
• Total profit: $-68,151
• Equity at exit: $16,428

Cash invested: $53,200 (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 34233

• Rents YoY: -1.4%
• Active inventory: 163
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,087 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$210 /mo · $2,516/yr
• Insurance: −$79
• HOA: −$464
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-101

Break-even live

Break-even rent $2,214

Max offer price $172,186

Occupancy floor 100%

Sensitivity live

Price	-10% $7	-5% $-47	+0% $-101	+5% $-155	+10% $-208
Rent	-10% $-266	-5% $-183	+0% $-101	+5% $-18	+10% $64
Rate	-1.0pp $-5	-0.5pp $-53	base $-101	+0.5pp $-150	+1.0pp $-200

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $464 · $5,568/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-13
   remarks 687-char remark
2. 2026-06-13
   statusdays on market $190,000 Pending 36 DOM
3. 2026-06-10
   days on market $190,000 Active 34 DOM
4. 2026-06-09
   days on market $190,000 Active 33 DOM
5. 2026-06-08
   days on market $190,000 Active 32 DOM
6. 2026-06-08
   pricedays on market $190,000 Active 31 DOM
7. 2026-06-05
   days on market $195,000 Active 28 DOM
8. 2026-06-03
   days on market $195,000 Active 27 DOM
9. 2026-06-02
   days on market $195,000 Active 26 DOM
10. 2026-06-01
    days on market $195,000 Active 25 DOM
11. 2026-05-31
    days on market $195,000 Active 24 DOM
12. 2026-05-07
    listed $195,000 Active 884-char remark
13. 2017-03-22
    soldstatus $152,000
14. 2017-03-16
    soldstatus $152,000 Sold 678-char remark

    Show marketing remark (678 chars)

    Absolutely adorable and pristine condo perfect for a full-time resident or for seasonal use. This 2nd floor updated condo has been loving kept by the current owners who use the place only a few months a year. The kitchen is white, light, and bright with lots of counter space and room for a breakfast table. The floors are either tile or laminate so no carpet here. The bathrooms are as cute as a button and interior full washer and dryer are a huge bonus. Check out the view overlooking the lake and water fountain. The location couldn't be better with easy access to I-75 and only 15 minutes to either Siesta Key beach or downtown. Come see what makes Casa del Sol so special.

15. 2017-02-21
    status Pending 678-char remark

    Show marketing remark (678 chars)

    Absolutely adorable and pristine condo perfect for a full-time resident or for seasonal use. This 2nd floor updated condo has been loving kept by the current owners who use the place only a few months a year. The kitchen is white, light, and bright with lots of counter space and room for a breakfast table. The floors are either tile or laminate so no carpet here. The bathrooms are as cute as a button and interior full washer and dryer are a huge bonus. Check out the view overlooking the lake and water fountain. The location couldn't be better with easy access to I-75 and only 15 minutes to either Siesta Key beach or downtown. Come see what makes Casa del Sol so special.

16. 2017-01-23
    listed $159,000 Active 678-char remark

    Show marketing remark (678 chars)

    Absolutely adorable and pristine condo perfect for a full-time resident or for seasonal use. This 2nd floor updated condo has been loving kept by the current owners who use the place only a few months a year. The kitchen is white, light, and bright with lots of counter space and room for a breakfast table. The floors are either tile or laminate so no carpet here. The bathrooms are as cute as a button and interior full washer and dryer are a huge bonus. Check out the view overlooking the lake and water fountain. The location couldn't be better with easy access to I-75 and only 15 minutes to either Siesta Key beach or downtown. Come see what makes Casa del Sol so special.

17. 2013-04-24
    soldstatus $96,000

    Show marketing remark (557 chars)

    Beautiful 2nd floor Casa del Sol unit with vaulted ceilings and water views. this building is on the back side of complex so there is no road noise. Its been very well maintained and the added bonus of a glass enclosed lanai brings additional living space into the home. Vanity counters have been upgraded to higher height for your comfort. Ceramic tile in kitchen and baths, wood in foyer and halls and carpet in main areas. Community has heated pool and spa, tennis courts, gathering club house and smallfitness center. So much to offer for a great price.

18. 2013-04-24
    soldstatus $96,000

    Show marketing remark (557 chars)

    Beautiful 2nd floor Casa del Sol unit with vaulted ceilings and water views. this building is on the back side of complex so there is no road noise. Its been very well maintained and the added bonus of a glass enclosed lanai brings additional living space into the home. Vanity counters have been upgraded to higher height for your comfort. Ceramic tile in kitchen and baths, wood in foyer and halls and carpet in main areas. Community has heated pool and spa, tennis courts, gathering club house and smallfitness center. So much to offer for a great price.

19. 2013-03-19
    listed $112,500

    Show marketing remark (557 chars)

    Beautiful 2nd floor Casa del Sol unit with vaulted ceilings and water views. this building is on the back side of complex so there is no road noise. Its been very well maintained and the added bonus of a glass enclosed lanai brings additional living space into the home. Vanity counters have been upgraded to higher height for your comfort. Ceramic tile in kitchen and baths, wood in foyer and halls and carpet in main areas. Community has heated pool and spa, tennis courts, gathering club house and smallfitness center. So much to offer for a great price.

20. 1988-12-30
    soldstatus $72,200

ⓘ 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: $2,516 · $210/mo
• Projected year-2 tax: $2,516 · $210/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $25,038
• − Mortgage interest: −$10,643
• − Property taxes: −$2,516
• − Insurance: −$950
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − HOA: −$5,568
• − Depreciation: −$5,527
• Taxable loss: −$4,172
• Est. tax savings @ 24.0%: +$1,001
• After-tax cash flow: $-209/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 — Bee Ridge

• Score: 72/100
• State rank: #370
• US rank: #6494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bee Ridge, FL
• County: Sarasota County · 448,376 people
• City population: 18,875
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,123
• Household income: $75,394
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 653.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -281.79%
• Current HPI: 258.6836
• Rent YoY: ▼ -1.35%
• 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

+163.2% since first listed

11 events — show timeline

• 2026-06-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-06-08 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2017-03-22 Sold (Public Records) $152,000 Public Records
• 2017-03-16 Sold (MLS) $152,000 Stellar MLS as Distributed by MLS Grid
• 2017-02-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-01-23 Listed $159,000 Stellar MLS as Distributed by MLS Grid
• 2013-04-24 Sold (Public Records) $96,000 Public Records
• 2013-04-24 Sold (MLS) $96,000 Stellar MLS as Distributed by MLS Grid
• 2013-03-19 Listed $112,500 Stellar MLS as Distributed by MLS Grid
• 1988-12-30 Sold (Public Records) $72,200 Public Records

Property tax history

+10.2%/yr

Latest (2025): $2,516 · +3.6% YoY. Source: county tax records.