3980 Mediterranea Cir #522 · South Gate Ridge, FL 34233

$198,900

2 bd · 2.0 ba · 1,167 sqft · Condo public records · 152 Days on market

Built 2005 $567/mo HOA · 25% of rent ↓ 60% since listing

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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 +6.4/10.0
• 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

Welcome to this beautifully maintained 2/2 condo in a secure gated community, offering comfort, convenience, and modern living. This spacious top floor unit features an open-concept layout with abundant natural light, a well-appointed kitchen with ample cabinetry, and a comfortable living area perfect for relaxing or entertaining. The bedrooms are generously sized with excellent closet space. Enjoy added conveniences such as in-unit laundry, dedicated parking, and access to community amenities including a sparkling pool and secure entry. All units just had new roofs put on this month. Located in a desirable area close to shopping, dining, public transportation, and major highways, this condo is ideal for first-time buyers, downsizers, or investors. Just 5.5 miles to Siesta Beach and village. Move-in ready and thoughtfully designed, this condo offers low-maintenance living without sacrificing style or comfort. Don’t miss your opportunity to own a fantastic condo in a sought-after location.

Key facts

• Gated community
• Community amenities
• In-unit laundry

Tags

• GATED COMMUNITY
• OPEN-CONCEPT LAYOUT
• WELL-APPOINTED KITCHEN
• IN-UNIT LAUNDRY
• DEDICATED PARKING
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (9.2% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#394 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety 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: Gulf Gate Elementary School (math 60% / reading 65%, grade B, #601 of 2,144 statewide, top 28%, 655 students, 54% FRL); Sarasota Middle School (math 82% / reading 78%, grade A+, #21 of 571 statewide, top 4%, 1,278 students, 26% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL) — zoned schools at 39% FRL track the district average.
• 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 36% 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 152 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $175,032 (12.0% 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 152 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 7.3

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: -24.7%
• Equity multiple: 0.19×
• Total profit: $-45,137
• Equity at exit: $29,657

10-year hold

• IRR: -41.4%
• Equity multiple: -0.29×
• Total profit: $-72,078
• Equity at exit: $17,197

Cash invested: $55,692 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$1,043
• Tax from tax record: −$204 /mo · $2,445/yr
• Insurance: −$83
• HOA: −$567
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-104

Break-even live

Break-even rent $2,401

Max offer price $180,563

Occupancy floor 100%

Sensitivity live

Price	-10% $9	-5% $-48	+0% $-104	+5% $-160	+10% $-216
Rent	-10% $-283	-5% $-193	+0% $-104	+5% $-14	+10% $75
Rate	-1.0pp $-4	-0.5pp $-53	base $-104	+0.5pp $-155	+1.0pp $-208

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: $49,725
• Closing costs: $5,967
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $567 · $6,804/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $198,900 Active 152 DOM
2. 2026-06-18
   days on market $198,900 Active 149 DOM
3. 2026-06-17
   days on market $198,900 Active 148 DOM
4. 2026-06-16
   days on market $198,900 Active 147 DOM
5. 2026-06-15
   days on market $198,900 Active 146 DOM
6. 2026-06-13
   days on market $198,900 Active 144 DOM
7. 2026-06-13
   days on market $198,900 Active 143 DOM
8. 2026-06-10
   days on market $198,900 Active 141 DOM
9. 2026-06-09
   days on market $198,900 Active 140 DOM
10. 2026-06-08
    days on market $198,900 Active 139 DOM
11. 2026-06-08
    days on market $198,900 Active 138 DOM
12. 2026-06-05
    days on market $198,900 Active 135 DOM
13. 2026-06-03
    days on market $198,900 Active 134 DOM
14. 2026-06-02
    days on market $198,900 Active 133 DOM
15. 2026-06-01
    days on market $198,900 Active 132 DOM
16. 2026-05-31
    days on market $198,900 Active 131 DOM
17. 2026-04-29
    price $198,900 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to this beautifully maintained 2/2 condo in a secure gated community, offering comfort, convenience, and modern living. This spacious top floor unit features an open-concept layout with abundant natural light, a well-appointed kitchen with ample cabinetry, and a comfortable living area perfect for relaxing or entertaining. The bedrooms are generously sized with excellent closet space. Enjoy added conveniences such as in-unit laundry, dedicated parking, and access to community amenities including a sparkling pool and secure entry. All units just had new roofs put on this month. Located in a desirable area close to shopping, dining, public transportation, and major highways, this condo is ideal for first-time buyers, downsizers, or investors. Just 5.5 miles to Siesta Beach and village. Move-in ready and thoughtfully designed, this condo offers low-maintenance living without sacrificing style or comfort. Don’t miss your opportunity to own a fantastic condo in a sought-after location.

18. 2026-04-24
    price $210,000 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to this beautifully maintained 2/2 condo in a secure gated community, offering comfort, convenience, and modern living. This spacious top floor unit features an open-concept layout with abundant natural light, a well-appointed kitchen with ample cabinetry, and a comfortable living area perfect for relaxing or entertaining. The bedrooms are generously sized with excellent closet space. Enjoy added conveniences such as in-unit laundry, dedicated parking, and access to community amenities including a sparkling pool and secure entry. All units just had new roofs put on this month. Located in a desirable area close to shopping, dining, public transportation, and major highways, this condo is ideal for first-time buyers, downsizers, or investors. Just 5.5 miles to Siesta Beach and village. Move-in ready and thoughtfully designed, this condo offers low-maintenance living without sacrificing style or comfort. Don’t miss your opportunity to own a fantastic condo in a sought-after location.

19. 2026-03-20
    price $214,900 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to this beautifully maintained 2/2 condo in a secure gated community, offering comfort, convenience, and modern living. This spacious top floor unit features an open-concept layout with abundant natural light, a well-appointed kitchen with ample cabinetry, and a comfortable living area perfect for relaxing or entertaining. The bedrooms are generously sized with excellent closet space. Enjoy added conveniences such as in-unit laundry, dedicated parking, and access to community amenities including a sparkling pool and secure entry. All units just had new roofs put on this month. Located in a desirable area close to shopping, dining, public transportation, and major highways, this condo is ideal for first-time buyers, downsizers, or investors. Just 5.5 miles to Siesta Beach and village. Move-in ready and thoughtfully designed, this condo offers low-maintenance living without sacrificing style or comfort. Don’t miss your opportunity to own a fantastic condo in a sought-after location.

20. 2026-01-20
    listed $218,500 Active 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to this beautifully maintained 2/2 condo in a secure gated community, offering comfort, convenience, and modern living. This spacious top floor unit features an open-concept layout with abundant natural light, a well-appointed kitchen with ample cabinetry, and a comfortable living area perfect for relaxing or entertaining. The bedrooms are generously sized with excellent closet space. Enjoy added conveniences such as in-unit laundry, dedicated parking, and access to community amenities including a sparkling pool and secure entry. All units just had new roofs put on this month. Located in a desirable area close to shopping, dining, public transportation, and major highways, this condo is ideal for first-time buyers, downsizers, or investors. Just 5.5 miles to Siesta Beach and village. Move-in ready and thoughtfully designed, this condo offers low-maintenance living without sacrificing style or comfort. Don’t miss your opportunity to own a fantastic condo in a sought-after location.

21. 2026-01-07
    historical
22. 2025-11-13
    price $215,000
23. 2025-11-05
    price $225,000
24. 2025-09-18
    listed $230,000 Active
25. 2025-04-18
    historical
26. 2025-04-11
    price $225,000
27. 2025-03-19
    price $229,900
28. 2025-02-25
    price $235,000
29. 2025-01-21
    price $240,000
30. 2025-01-18
    listed $254,900 Active
31. 2024-05-02
    historical $3,400
32. 2023-12-02
    price $3,400
33. 2023-12-01
    listed $3,200
34. 2023-04-18
    soldstatus $278,500
35. 2023-04-14
    soldstatus $278,500 Closed
36. 2023-03-25
    status Pending
37. 2023-03-17
    price $288,000
38. 2023-02-27
    price $289,000
39. 2023-02-07
    listed $300,000 Active
40. 2017-02-23
    soldstatus $142,000
41. 2017-02-22
    soldstatus $142,000 Sold
42. 2017-01-18
    status Pending
43. 2016-11-01
    status Active
44. 2016-10-30
    historical
45. 2016-10-24
    price $155,000
46. 2016-10-14
    price $156,000
47. 2016-10-05
    price $156,900
48. 2016-09-12
    price $157,900
49. 2016-09-06
    price $158,900
50. 2016-07-27
    price $159,900

ⓘ 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: $2,445 · $204/mo
• Projected year-2 tax: $2,445 · $204/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 ≥107°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: $27,234
• − Mortgage interest: −$11,141
• − Property taxes: −$2,445
• − Insurance: −$994
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − HOA: −$6,804
• − Depreciation: −$5,786
• Taxable loss: −$4,295
• Est. tax savings @ 24.0%: +$1,031
• After-tax cash flow: $-215/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 Gate Ridge

• Score: 71/100
• State rank: #394
• US rank: #6987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Gate Ridge, FL
• County: Sarasota County · 448,376 people
• 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

-59.7% since first listed

49 events — show timeline

• 2026-04-29 Price Changed $198,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $214,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Listed $218,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Listed $230,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-18 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-11 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-19 Price Changed $229,900 Stellar MLS as Distributed by MLS Grid
• 2025-02-25 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-21 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-18 Listed $254,900 Stellar MLS as Distributed by MLS Grid
• 2024-05-02 Rental Removed $3,400 STELLARMLS
• 2023-12-02 Price Changed $3,400 STELLARMLS
• 2023-12-01 Listed for Rent $3,200 STELLARMLS
• 2023-04-18 Sold (Public Records) $278,500 Public Records
• 2023-04-14 Sold (MLS) $278,500 Stellar MLS as Distributed by MLS Grid
• 2023-03-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-03-17 Price Changed $288,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-27 Price Changed $289,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-07 Listed $300,000 Stellar MLS as Distributed by MLS Grid
• 2017-02-23 Sold (Public Records) $142,000 Public Records
• 2017-02-22 Sold (MLS) $142,000 Stellar MLS as Distributed by MLS Grid
• 2017-01-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-11-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-10-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-10-24 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2016-10-14 Price Changed $156,000 Stellar MLS as Distributed by MLS Grid
• 2016-10-05 Price Changed $156,900 Stellar MLS as Distributed by MLS Grid
• 2016-09-12 Price Changed $157,900 Stellar MLS as Distributed by MLS Grid
• 2016-09-06 Price Changed $158,900 Stellar MLS as Distributed by MLS Grid
• 2016-07-27 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2016-07-07 Listed $174,900 Stellar MLS as Distributed by MLS Grid
• 2016-06-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-02-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-02-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-12-28 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2015-03-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-12-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-11-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-10-15 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2014-10-15 Listed $13,990 Stellar MLS as Distributed by MLS Grid
• 2009-10-06 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2009-06-16 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2007-08-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-03-15 Listed $169,999 Stellar MLS as Distributed by MLS Grid
• 2003-07-18 Sold (Public Records) $493,400 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,445 · -18.9% YoY. Source: county tax records.