2763 Woodgate Ln #111 · Ridge Wood Heights, FL 34231

$129,000

2 bd · 1.0 ba · 874 sqft · Condo public records · 88 Days on market

Built 1979 $595/mo HOA · 31% 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 +14.3/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.4/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

Key facts

• Fitness center
• Shuffleboard courts
• Clubhouse

Tags

• COMMUNITY POOL
• FITNESS CENTER
• DESIGNATED PARKING SPOT
• SHUFFLEBOARD COURTS
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $24 ($287/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#470 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: Phillippi Shores Elementary School (math 77% / reading 79%, grade A, #149 of 2,144 statewide, top 8%, 731 students, 38% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Market conditions: Rents soft (-2.1%/yr); 566 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/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 $892 of loan paydown is wiped out by about $4k 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 88 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.49% ✓
• Cap rate: 6.52%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 5.6

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: -20.5%
• Equity multiple: 0.32×
• Total profit: $-24,627
• Equity at exit: $19,234

10-year hold

• IRR: -33.4%
• Equity multiple: -0.10×
• Total profit: $-39,674
• Equity at exit: $11,154

Cash invested: $36,120 (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 34231

• Rents YoY: -2.1%
• Active inventory: 566
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,927 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$173 /mo · $2,075/yr
• Insurance: −$54
• HOA: −$595
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $24

Break-even live

Break-even rent $1,896

Max offer price $129,000

Occupancy floor 94%

Sensitivity live

Price	-10% $97	-5% $60	+0% $24	+5% $-13	+10% $-49
Rent	-10% $-128	-5% $-52	+0% $24	+5% $100	+10% $176
Rate	-1.0pp $89	-0.5pp $57	base $24	+0.5pp $-10	+1.0pp $-44

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Likely covers: watercablelandscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-04-28
   status Pending
2. 2026-03-24
   price $129,000
3. 2026-02-18
   price $148,500
4. 2026-01-30
   listed $150,000 Active
5. 2025-11-30
   historical
6. 2025-11-20
   historical $1,550
7. 2025-10-11
   price $1,550
8. 2025-09-23
   price $1,625
9. 2025-09-22
   price $178,000
10. 2025-09-09
    listed $1,700
11. 2025-09-05
    price $179,800
12. 2025-08-11
    price $179,900
13. 2025-07-24
    price $189,900
14. 2025-07-13
    listed $194,900 Active
15. 2021-05-14
    soldstatus $140,000
16. 2021-05-11
    soldstatus $140,000 Closed 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

17. 2021-03-31
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

18. 2021-03-25
    status Active 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

19. 2021-03-23
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

20. 2021-03-20
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

21. 2021-03-13
    listed $140,000 Active 798-char remark

    Show marketing remark (798 chars)

    Looking for a lovely condo to call your own? Pinewood Village offers a cozy residence to live in. This 2 bedroom, 2 bathroom home will bring comfort for you and your loved ones. The unit is located on the first floor which is ideal for those who are not in love with stairs. Ideally located off Proctor Rd. restaurants, shopping, medical facilities, good school districts & fine beaches are close by. In your spare time you are more than welcome to enjoy the large community swimming pool and fitness center. HOA fee/features include basic cable, water, pest control, maintenance grounds, maintenance exterior, fitness center, clubhouse, and shuffleboard courts. There is one designated parking spot per unit. Unfortunately, no pets are allowed for animal lovers. Schedule your showing today.

22. 2003-07-30
    soldstatus $88,500

ⓘ 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: $2,075 · $173/mo
• Projected year-2 tax: $2,075 · $173/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 · 29 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: $23,119
• − Mortgage interest: −$7,226
• − Property taxes: −$2,075
• − Insurance: −$645
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − HOA: −$7,140
• − Depreciation: −$3,753
• Taxable loss: −$1,418
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $627/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 — Ridge Wood Heights

• Score: 69/100
• State rank: #470
• US rank: #8497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridge Wood Heights, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 32,404
• Household income: $69,925
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1983.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Russian/Polish/Slavic 2% German/W. Germanic 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: ▼ -448.92%
• Current HPI: 292.9055
• Rent YoY: ▼ -2.13%
• 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

+45.8% since first listed

22 events — show timeline

• 2026-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $148,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-30 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-20 Rental Removed $1,550 STELLARMLS
• 2025-10-11 Price Changed $1,550 STELLARMLS
• 2025-09-23 Price Changed $1,625 STELLARMLS
• 2025-09-22 Price Changed $178,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-09 Listed for Rent $1,700 STELLARMLS
• 2025-09-05 Price Changed $179,800 Stellar MLS as Distributed by MLS Grid
• 2025-08-11 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-24 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-13 Listed $194,900 Stellar MLS as Distributed by MLS Grid
• 2021-05-14 Sold (Public Records) $140,000 Public Records
• 2021-05-11 Sold (MLS) $140,000 Stellar MLS as Distributed by MLS Grid
• 2021-03-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-13 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2003-07-30 Sold (Public Records) $88,500 Public Records

Property tax history

+12.5%/yr

Latest (2025): $2,075 · -0.3% YoY. Source: county tax records.