3710 Gulf OF Mexico Dr Unit F2 · Longboat Key, FL 34228

$475,000

2 bd · 2.0 ba · 740 sqft · Land · 108 Days on market

Built 2026 $290/mo HOA

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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 +9.9/30.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Schools +5.4/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Island Living at Its Finest – Brand New Home on Longboat Key. Welcome to Gulfshore of Longboat, a highly desirable waterfront co-op community offering private beach access, boat docks, and sweeping views of the Gulf of Mexico and Sarasota Bay. This beautifully built 2-bedroom home combines modern efficiency with relaxed coastal living. An outdoor bathroom with a shower is a wonderful convenience for those enjoying the pool or boating. Step inside to an open, sun-filled floor plan featuring soaring ceilings with tray accents in both the living room and the primary bedroom, creating a bright, spacious atmosphere throughout. The kitchen is designed for everyday comfort and entertaining, complete with a center island, hardwood shaker cabinetry with soft-close doors and drawers, and a full stainless appliance package including refrigerator with ice and water, range, dishwasher, microwave, and garbage disposal. Built to current HUD hurricane standards and Energy Star certified, the home offers peace of mind with 2x6 construction, upgraded insulation, and low-E vinyl windows for year-round comfort and efficiency. Enjoy mornings at the private beach, afternoons at the heated pool, and evenings watching sunsets over the water. The community clubhouse hosts regular activities, making it easy to relax and connect with neighbors in a friendly coastal setting. Whether you’re looking for a winter retreat or full-time residence, this move-in-ready island home delivers comfort, security, and the lifestyle Longboat Key is known for. No pets (except for service animals or emotional support animals with appropriate paperwork) or Rentals permitted. Schedule your private showing today and start living the Gulf Coast dream.

Key facts

• Boat docks
• Open floor plan
• Sweeping views

Tags

• PRIVATE BEACH ACCESS
• BOAT DOCKS
• SWEEPING VIEWS
• OUTDOOR BATH
• OPEN FLOOR PLAN
• CENTER ISLAND

🏢 Co-op / cooperative unit. The $475,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $475k.

Deal economics

• At list price, monthly cash flow is $-718 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $348k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $362k (23.8% below list).
• Recommended offer: $348k (26.7% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 0.5% in Longboat Key — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#693 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, 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: Southside Elementary School (math 79% / reading 81%, grade A+, #110 of 2,144 statewide, top 5%, 687 students, 26% FRL); Booker Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 950 students, 76% FRL); Booker High School (math 26% / reading 43%, grade F, #386 of 667 statewide, top 59%, 1,309 students, 68% FRL).
• Market conditions: 545 active listings in the ZIP; high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($3k loan paydown + $3k appreciation (0.7% local appreciation)).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $125k; list at $475k implies a 280% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $348,185 (26.7% 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 108 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.68×
• Total profit: $-42,894
• Equity at exit: $155,464

10-year hold

• IRR: -0.9%
• Equity multiple: 0.90×
• Total profit: $-13,726
• Equity at exit: $201,518

Cash invested: $133,000 (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 34228

• Home prices YoY: 0.3%
• Active inventory: 545
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,620 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$172 /mo · $2,070/yr
• Insurance: −$198
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$290
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $-718

Break-even live

Break-even rent $4,529

Max offer price $348,185

Occupancy floor —

Sensitivity live

Price	-10% $-449	-5% $-583	+0% $-718	+5% $-852	+10% $-987
Rent	-10% $-1,004	-5% $-861	+0% $-718	+5% $-575	+10% $-432
Rate	-1.0pp $-479	-0.5pp $-597	base $-718	+0.5pp $-841	+1.0pp $-966

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $290 · $3,480/yr
• Likely covers: watertrashpoolsecurity

Listing history 26 events

1. 2026-06-22
   days on market $475,000 Active 108 DOM
2. 2026-06-21
   days on market $475,000 Active 107 DOM
3. 2026-06-18
   days on market $475,000 Active 104 DOM
4. 2026-06-17
   days on market $475,000 Active 103 DOM
5. 2026-06-16
   days on market $475,000 Active 102 DOM
6. 2026-06-15
   days on market $475,000 Active 101 DOM
7. 2026-06-13
   days on market $475,000 Active 99 DOM
8. 2026-06-13
   days on market $475,000 Active 98 DOM
9. 2026-06-10
   days on market $475,000 Active 96 DOM
10. 2026-06-09
    days on market $475,000 Active 95 DOM
11. 2026-06-08
    days on market $475,000 Active 94 DOM
12. 2026-06-08
    days on market $475,000 Active 93 DOM
13. 2026-06-05
    days on market $475,000 Active 90 DOM
14. 2026-06-03
    days on market $475,000 Active 89 DOM
15. 2026-06-02
    days on market $475,000 Active 88 DOM
16. 2026-06-01
    days on market $475,000 Active 87 DOM
17. 2026-05-31
    days on market $475,000 Active 86 DOM
18. 2026-03-06
    listed $475,000 Active 1743-char remark

    Show marketing remark (1743 chars)

    Island Living at Its Finest – Brand New Home on Longboat Key. Welcome to Gulfshore of Longboat, a highly desirable waterfront co-op community offering private beach access, boat docks, and sweeping views of the Gulf of Mexico and Sarasota Bay. This beautifully built 2-bedroom home combines modern efficiency with relaxed coastal living. An outdoor bathroom with a shower is a wonderful convenience for those enjoying the pool or boating. Step inside to an open, sun-filled floor plan featuring soaring ceilings with tray accents in both the living room and the primary bedroom, creating a bright, spacious atmosphere throughout. The kitchen is designed for everyday comfort and entertaining, complete with a center island, hardwood shaker cabinetry with soft-close doors and drawers, and a full stainless appliance package including refrigerator with ice and water, range, dishwasher, microwave, and garbage disposal. Built to current HUD hurricane standards and Energy Star certified, the home offers peace of mind with 2x6 construction, upgraded insulation, and low-E vinyl windows for year-round comfort and efficiency. Enjoy mornings at the private beach, afternoons at the heated pool, and evenings watching sunsets over the water. The community clubhouse hosts regular activities, making it easy to relax and connect with neighbors in a friendly coastal setting. Whether you’re looking for a winter retreat or full-time residence, this move-in-ready island home delivers comfort, security, and the lifestyle Longboat Key is known for. No pets (except for service animals or emotional support animals with appropriate paperwork) or Rentals permitted. Schedule your private showing today and start living the Gulf Coast dream.

19. 2024-09-04
    soldstatus $125,000
20. 2024-08-04
    historical
21. 2023-12-11
    price $125,000
22. 2023-08-04
    listed $140,000 Active
23. 2021-06-28
    soldstatus $165,007
24. 2021-06-25
    soldstatus $165,007 Closed
25. 2021-05-26
    status Pending
26. 2020-07-06
    listed $164,900 Active

ⓘ 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: $2,070 · $172/mo
• Projected year-2 tax: $3,942 · $329/mo
• Expected delta: +$1,873/yr (+$156/mo · 90.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,443
• − Mortgage interest: −$26,607
• − Property taxes: −$2,070
• − Insurance: −$7,494
• − Repairs & maintenance: −$3,475
• − Management: −$3,475
• − HOA: −$3,480
• − Depreciation: −$13,818
• Taxable loss: −$16,976
• Est. tax savings @ 24.0%: +$4,074
• After-tax cash flow: $-4,540/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 — Longboat Key

• Score: 64/100
• State rank: #693
• US rank: #14452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longboat Key, FL
• County: Sarasota County · 448,376 people
• City population: 7,539
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 7,539
• Household income: $158,030
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 98.0

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Scotch-Irish 7% Romanian 6% Lithuanian 4%
• Foreign-born: 14% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 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: ▲ 0.73%
• Current HPI: 234.5017
• Rent YoY: —
• 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

+188.1% since first listed

9 events — show timeline

• 2026-03-06 Listed $475,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-04 Sold (Public Records) $125,000 Public Records
• 2024-08-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-12-11 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-04 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-28 Sold (Public Records) $165,007 Public Records
• 2021-06-25 Sold (MLS) $165,007 Stellar MLS as Distributed by MLS Grid
• 2021-05-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-07-06 Listed $164,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $2,070 · -13.1% YoY. Source: county tax records.