3532 Lake Bayshore Dr Unit K117 · South Bradenton, FL 34205

$60,000

2 bd · 1.0 ba · 960 sqft · Condo public records · 15 Days on market

Built 1980 $569/mo HOA · 38% 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale. Ground Floor Condo in Beautiful Bayshore on the Lake 55+ community in Bradenton. Your parking is right in front of your door. FULLY FURNISHED. The open floor plan features a tiled foyer, a spacious living room with sliders leading to an all-tiled enclosed lanai.

Key facts

• Ground floor condo
• Tiled foyer
• Bayshore on the lake

Tags

• GROUND FLOOR CONDO
• BAYSHORE ON THE LAKE
• TILED FOYER
• SPACIOUS LIVING ROOM
• ENCLOSED LANAI

Property features AI

Finance

• Other: Furnished; Condo land included; Total lot approximately 3.66 acres
• Financial info: Total annual HOA fees: $6,828; Lease restrictions apply
• HOA & community: HOA managed by Resource Property Mgt; Monthly HOA/condo fee of $569; Condo fees include cable TV, pool, internet, maintenance of structure, management, pest control, private road, trash, escrow reserves fund, fidelity bond; Association approval required; Clubhouse on site; Senior community; Pets not allowed; Buyer approval required

Exterior

• Parking: No specific parking details provided
• Security: Buyer approval required for community access
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Cable connected
• Home design: Condominium; Single-story (1 story); Faces south; Entry level: Floor 1
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of building 3532/K117
• Exterior features: Other exterior features; Asphalt road access

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.1% in South Bradenton — 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 77/100 on livability (#195 in FL, #3,092 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D+, commute F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.4%/yr); 319 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 34% of the median local income ($53k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.49% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.87%
• DSCR: 1.44
• GRM: 3.3

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: -8.5%
• Equity multiple: 0.71×
• Total profit: $-4,890
• Equity at exit: $8,946

10-year hold

• IRR: -12.0%
• Equity multiple: 0.51×
• Total profit: $-8,191
• Equity at exit: $5,188

Cash invested: $16,800 (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 34205

• Rents YoY: -2.4%
• Active inventory: 319
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$315
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$25
• HOA: −$569
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $138

Break-even live

Break-even rent $1,320

Max offer price $60,000

Occupancy floor 86%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4109 Lake Bayshore Dr Bradenton, FL	1.0	1.0	768	$1,250	$1.63	24d	1	0.16mi
3737 Lake Bayshore Dr Unit 213 Bradenton, FL	2.0	1.0	912	$1,150	$1.26	21d	1	0.16mi
3963 Lake Bayshore Dr Unit F-414 Bradenton, FL	2.0	1.0	1040	$1,200	$1.15	14d	1	0.16mi
2306 30th Ave W Bradenton, FL	3.0	2.0	945	$1,700	$1.80	24d	1	0.26mi
4204 Heron Way Unit B304 Bradenton, FL	2.0	1.0	912	$1,400	$1.54	3d	1	0.33mi
2901 26th St W #807 Bradenton, FL	2.0	2.0	940	$1,525	$1.62	3d	1	0.34mi
3506 14th St W Bradenton, FL	3.0	1.0–2.0	874	$1,725	$1.97	24d	5	0.46mi
2201 24th Ave W Bradenton, FL	2.0	2.0	1115	$1,950	$1.75	24d	1	0.57mi
1308 36th Ave W Bradenton, FL	1.0	1.0	715	$1,199	$1.68	24d	1	0.64mi
4515 26th St W Bradenton, FL	1.0–2.0	1.0–2.0	806	$1,510	$1.87	2d	14	0.66mi
2205 20th St W Bradenton, FL	2.0	1.0	810	$1,850	$2.28	12d	1	0.71mi
2315 17th Street Ln W Bradenton, FL	1.0	1.0	528	$1,200	$2.27	24d	1	0.72mi
4444 17th St W Unit B Bradenton, FL	2.0	1.0	850	$2,200	$2.59	24d	1	0.72mi
2305 46th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	1005	$1,837	$1.83	2d	10	0.74mi
2403 21st Ave W Bradenton, FL	1.0	1.0	600	$1,400	$2.33	24d	1	0.75mi
919 34th Ave W Bradenton, FL	3.0	1.0	950	$1,599	$1.68	12d	1	0.79mi
907 34th Ave W Unit B Bradenton, FL	3.0	1.0	1000	$1,795	$1.79	24d	1	0.82mi
907 34th Ave W Bradenton, FL	3.0	1.0	985	$1,599	$1.62	20d	1	0.82mi
2002 20th St W Unit B Bradenton, FL	1.0	1.0	600	$1,000	$1.67	16d	1	0.84mi
2409 13th St W Apt 2 Bradenton, FL	2.0	1.0	770	$1,175	$1.53	24d	1	0.88mi
2422 11th St W Bradenton, FL	2.0	1.0	900	$1,445	$1.61	24d	1	0.91mi
4705 27th St W Unit A Bradenton, FL	2.0	1.0	750	$1,325	$1.77	3d	1	0.92mi
1912 19th Ave W Unit 1912 Bradenton, FL	2.0	1.0	800	$1,395	$1.74	24d	1	0.93mi
2127 13th St W Unit B Bradenton, FL	1.0	1.0	700	$1,149	$1.64	24d	1	0.96mi
1505 18th Avenue Dr W Bradenton, FL	3.0	1.0	886	$1,875	$2.12	16d	1	1.03mi
2117 11th St W Bradenton, FL	1.0	1.0	850	$1,295	$1.52	24d	1	1.03mi
2017 12th St W Bradenton, FL	1.0	1.0	720	$1,300	$1.81	24d	1	1.04mi
4812 27th St W Bradenton, FL	2.0	2.0	912	$1,599	$1.75	12d	1	1.04mi
4812 27th St W Unit 4812 Bradenton, FL	2.0	2.0	912	$1,545	$1.69	12d	1	1.04mi
2244 9th St W Bradenton, FL	1.0–2.0	1.0–2.0	768	$1,323	$1.72	24d	4	1.04mi
505 30th Ave W Unit E406 Bradenton, FL	2.0	2.0	1001	$1,450	$1.45	24d	1	1.07mi
2004 49th Ave W Unit 2002 Bradenton, FL	2.0	2.0	1021	$1,950	$1.91	24d	1	1.08mi
4906 21st St W Bradenton, FL	2.0	1.0	918	$1,700	$1.85	16d	1	1.08mi
1418 18th Avenue Dr W Unit 1418 Bradenton, FL	3.0	2.0	1000	$1,900	$1.90	24d	1	1.09mi
515 30th Ave W Bradenton, FL	2.0	2.0	1001	$1,375	$1.37	16d	2	1.09mi
4325 40th St W Bradenton, FL	1.0–2.0	1.0–2.0	775	$1,675	$2.16	10d	9	1.11mi
4906 25th St W #101 Bradenton, FL	2.0	1.5	1070	$1,550	$1.45	24d	1	1.11mi
805 22nd Ave W Bradenton, FL	1.0	1.0	790	$1,200	$1.52	24d	1	1.12mi
390 301 Blvd W Bradenton, FL	2.0	2.0	1125	$1,495	$1.33	24d	1	1.12mi
2835 50th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	850	$1,610	$1.89	3d	16	1.14mi

HOA detail condo

• Monthly dues: $569 · $6,828/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $60,000 Active 15 DOM
2. 2026-06-17
   days on market $60,000 Active 14 DOM
3. 2026-06-16
   days on market $60,000 Active 13 DOM
4. 2026-06-15
   days on market $60,000 Active 12 DOM
5. 2026-06-13
   days on market $60,000 Active 10 DOM
6. 2026-06-13
   days on market $60,000 Active 9 DOM
7. 2026-06-10
   days on market $60,000 Active 7 DOM
8. 2026-06-09
   days on market $60,000 Active 6 DOM
9. 2026-06-08
   days on market $60,000 Active 5 DOM
10. 2026-06-07
    remarks 274-char remark
11. 2026-06-07
    listed $60,000 Active 4 DOM

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,938
• − Mortgage interest: −$3,361
• − Property taxes: −$1,608
• − Insurance: −$300
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − HOA: −$6,828
• − Depreciation: −$1,745
• Taxable income: $1,225
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $1,365/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — South Bradenton

• Score: 77/100
• State rank: #195
• US rank: #3092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Bradenton, FL
• County: Manatee County · 416,364 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 31,946
• Household income: $52,525
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1736.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Black 10% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 1%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 78% English-only · Spanish 14% French/Haitian/Cajun 2% German/W. Germanic 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -310.18%
• Current HPI: 369.8239
• Rent YoY: ▼ -2.43%
• 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

+69.0% since first listed

47 events — show timeline

• 2026-06-03 Listed $60,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Price Changed $109,950 Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-03 Listed $109,950 Stellar MLS as Distributed by MLS Grid
• 2025-05-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-11 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-11 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-03-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-01-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-01-23 Price Changed $117,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-22 Listed $134,950 Stellar MLS as Distributed by MLS Grid
• 2024-09-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-03 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-27 Price Changed $119,990 Stellar MLS as Distributed by MLS Grid
• 2024-07-22 Price Changed $129,990 Stellar MLS as Distributed by MLS Grid
• 2024-06-18 Price Changed $149,990 Stellar MLS as Distributed by MLS Grid
• 2024-06-04 Price Changed $159,990 Stellar MLS as Distributed by MLS Grid
• 2024-06-04 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-27 Sold (Public Records) $149,000 Public Records
• 2022-07-25 Sold (MLS) $149,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-05-17 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2022-04-07 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2014-08-25 Sold (Public Records) $41,900 Public Records
• 2014-08-08 Sold (MLS) $41,900 Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-01 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-06-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-06-01 Price Changed $41,900 Stellar MLS as Distributed by MLS Grid
• 2014-01-26 Listed $42,500 Stellar MLS as Distributed by MLS Grid
• 2013-04-07 Listed $46,500 Stellar MLS as Distributed by MLS Grid
• 2013-01-14 Sold (MLS) $20,000 Stellar MLS as Distributed by MLS Grid
• 2012-04-11 Listed $27,960 Stellar MLS as Distributed by MLS Grid
• 2007-05-18 Listed $99,500 Stellar MLS as Distributed by MLS Grid
• 2006-07-24 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2005-09-01 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 2000-11-01 Sold (Public Records) $39,000 Public Records
• 2000-11-01 Sold (Public Records) $39,000 Public Records
• 1981-06-01 Sold (Public Records) $35,500 Public Records

Property tax history

+7.6%/yr

Latest (2025): $1,608 · -19.3% YoY. Source: county tax records.