4458 Narraganset Trl Unit 93A · Bee Ridge, FL 34233

$180,000

2 bd · 2.0 ba · 1,182 sqft · Condo public records · 8 Days on market

Built 1976 $435/mo HOA · 19% of rent

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Why this score? — see what drove the C- 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 +19.9/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located 55+ active community with gorgeous lake and western views. Fish and boat in stocked lake, Community heated pool, Active Clubhouse with so much to do including Majong, Bridge and much more. This two bedroom includes 20 inch tile, and many appliances only 2 years old including the air conditioner. Turnkey furnished so its ready for your lifestyle to begin, Low HOA fees. .. .. . Indoor cat only allowed - no dogs.

Key facts

• $435 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

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); 159 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 $5k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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 $75k; list at $180k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $180,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.26% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.16%
• DSCR: 1.23
• GRM: 6.6

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: -12.4%
• Equity multiple: 0.57×
• Total profit: $-21,780
• Equity at exit: $26,839

10-year hold

• IRR: -10.1%
• Equity multiple: 0.49×
• Total profit: $-25,933
• Equity at exit: $15,563

Cash invested: $50,400 (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: 159
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,270 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$123 /mo · $1,471/yr
• Insurance: −$75
• HOA: −$435
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $217

Break-even live

Break-even rent $1,996

Max offer price $180,000

Occupancy floor 85%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $435 · $5,220/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-08
   status Pending
2. 2026-03-30
   listed $180,000 Active
3. 2013-06-26
   soldstatus $75,000
4. 2013-06-21
   soldstatus $75,000 431-char remark

   Show marketing remark (431 chars)

   Centrally located 55+ active community with gorgeous lake and western views. Fish and boat in stocked lake, Community heated pool, Active Clubhouse with so much to do including Majong, Bridge and much more. This two bedroom includes 20 inch tile, and many appliances only 2 years old including the air conditioner. Turnkey furnished so its ready for your lifestyle to begin, Low HOA fees. .. .. . Indoor cat only allowed - no dogs.

5. 2013-03-19
   listed $80,000 431-char remark

   Show marketing remark (431 chars)

   Centrally located 55+ active community with gorgeous lake and western views. Fish and boat in stocked lake, Community heated pool, Active Clubhouse with so much to do including Majong, Bridge and much more. This two bedroom includes 20 inch tile, and many appliances only 2 years old including the air conditioner. Turnkey furnished so its ready for your lifestyle to begin, Low HOA fees. .. .. . Indoor cat only allowed - no dogs.

6. 2011-02-01
   soldstatus $71,000
7. 2011-01-31
   soldstatus $71,000 572-char remark

   Show marketing remark (572 chars)

   The lake views when you first step into this unit will amaze you! Feels like you are sitting right on the water! Very nicely turnkey furnished 2 bedroom 2 bath unit that truly shows very well. Owners have updated the unit with tile floors everywhere except for the bedrooms, new stove, microwave, dishwasher and Maytag washer/dryer within the last year. New master bath shower in last year with updated bathrooms and walk in closet. Active 55+ community located near shops and dining and short distance to world famous Siesta Key Beach. This one is a joy to show and sell!

8. 2010-10-26
   listed $79,000 572-char remark

   Show marketing remark (572 chars)

   The lake views when you first step into this unit will amaze you! Feels like you are sitting right on the water! Very nicely turnkey furnished 2 bedroom 2 bath unit that truly shows very well. Owners have updated the unit with tile floors everywhere except for the bedrooms, new stove, microwave, dishwasher and Maytag washer/dryer within the last year. New master bath shower in last year with updated bathrooms and walk in closet. Active 55+ community located near shops and dining and short distance to world famous Siesta Key Beach. This one is a joy to show and sell!

9. 1998-03-19
   soldstatus $63,000
10. 1985-07-01
    soldstatus $54,000

ⓘ 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: $1,471 · $123/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$23/yr (+$2/mo · 1.6%)

ⓘ 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 · 30 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: $27,239
• − Mortgage interest: −$10,083
• − Property taxes: −$1,471
• − Insurance: −$900
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − HOA: −$5,220
• − Depreciation: −$5,236
• Taxable loss: −$30
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $2,607/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

+233.3% since first listed

10 events — show timeline

• 2026-04-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Listed $180,000 Stellar MLS as Distributed by MLS Grid
• 2013-06-26 Sold (Public Records) $75,000 Public Records
• 2013-06-21 Sold (MLS) $75,000 Stellar MLS as Distributed by MLS Grid
• 2013-03-19 Listed $80,000 Stellar MLS as Distributed by MLS Grid
• 2011-02-01 Sold (Public Records) $71,000 Public Records
• 2011-01-31 Sold (MLS) $71,000 Stellar MLS as Distributed by MLS Grid
• 2010-10-26 Listed $79,000 Stellar MLS as Distributed by MLS Grid
• 1998-03-19 Sold (Public Records) $63,000 Public Records
• 1985-07-01 Sold (Public Records) $54,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,471 · +4.8% YoY. Source: county tax records.