1111 W Faith Cir #1006 · Lakewood Ranch, FL 34212

$169,000

2 bd · 2.0 ba · 1,408 sqft · Condo public records · 132 Days on market

Built 1980 $500/mo HOA · 22% 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 +17.1/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +4.4/10.0
• Appreciation +4.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0

Listing remarks MLS

Fantastic ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, Double Oven, a wonderful Florida room and a private patio. Furniture in unit conveys. Basic cable, Water, sewer, security, Heated pool, included in Maintenance fee This community has the best of both country and city living on the banks of the Manatee River. Many amenities including pool, fishing, tennis courts and access to Manatee River. Close to Fort Hamer bridge

Key facts

• Ground-floor
• Stone countertops
• Tennis courts

Tags

• GROUND-FLOOR
• LARGE COOKTOP
• DOUBLE OVEN
• STONE COUNTERTOPS
• HEATED POOL
• TENNIS COURTS

Property features AI

Finance

• Other: No lease restrictions; Association fee payment required
• Financial info: Total monthly fees: $500; Total annual fees: $6,000
• HOA & community: Monthly condo/association fee $500; Association management: Coastal CommunityMGMT; Association approval required; Association fees include cable TV, escrow reserves, insurance, internet, structure and grounds maintenance, pool, private road, sewer, trash and water; Pool (community); Senior community; Pets allowed: cats and dogs

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Residential condominium; One story; Faces northwest; Entry on first floor
• Construction: Block and stucco construction; Concrete roof; Slab foundation; Built as part of building number 1006
• Exterior features: Irrigation equipment; Paved road access; Condo land included

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Disposal; Exhaust fan; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (one level: first floor)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Solid surface counters; Thermostat; Walk-in closet(s); Window treatments
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.3% in Lakewood Ranch — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 falling (-3.4%/yr); 479 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 132 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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: HOA is 22% 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 $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.82% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.62×
• Total profit: $-17,772
• Equity at exit: $34,244

10-year hold

• IRR: -7.0%
• Equity multiple: 0.52×
• Total profit: $-22,612
• Equity at exit: $30,631

Cash invested: $47,320 (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 34212

• Home prices YoY: -0.7%
• Rents YoY: -3.4%
• Active inventory: 479
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,276 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$225 /mo · $2,701/yr
• Insurance: −$70
• HOA: −$500
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $117

Break-even live

Break-even rent $2,129

Max offer price $169,000

Occupancy floor 90%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
923 Hagle Park Rd Unit 925 Bradenton, FL	3.0	2.0	1100	$2,175	$1.98	19d	1	1.14mi
327 Tierra Verde Way Bradenton, FL	3.0	2.0	1690	$2,340	$1.38	15d	1	1.39mi
405 Gris Sky Ln Bradenton, FL	3.0	2.0	1650	$2,399	$1.45	14d	1	1.42mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: watersewercablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $169,000 Active 132 DOM
2. 2026-06-17
   days on market $169,000 Active 131 DOM
3. 2026-06-16
   days on market $169,000 Active 130 DOM
4. 2026-06-15
   days on market $169,000 Active 129 DOM
5. 2026-06-13
   days on market $169,000 Active 127 DOM
6. 2026-06-13
   days on market $169,000 Active 126 DOM
7. 2026-06-10
   days on market $169,000 Active 124 DOM
8. 2026-06-09
   days on market $169,000 Active 123 DOM
9. 2026-06-08
   days on market $169,000 Active 122 DOM
10. 2026-06-08
    days on market $169,000 Active 121 DOM
11. 2026-06-03
    days on market $169,000 Active 117 DOM
12. 2026-06-02
    days on market $169,000 Active 116 DOM
13. 2026-06-01
    days on market $169,000 Active 115 DOM
14. 2026-05-31
    days on market $169,000 Active 114 DOM
15. 2026-02-06
    listed $169,000 Active
16. 2020-11-20
    soldstatus $149,000 Sold 482-char remark

    Show marketing remark (482 chars)

    Fantastic ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, Double Oven, a wonderful Florida room and a private patio. Furniture in unit conveys. Basic cable, Water, sewer, security, Heated pool, included in Maintenance fee This community has the best of both country and city living on the banks of the Manatee River. Many amenities including pool, fishing, tennis courts and access to Manatee River. Close to Fort Hamer bridge

17. 2020-08-27
    status Pending 482-char remark

    Show marketing remark (482 chars)

    Fantastic ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, Double Oven, a wonderful Florida room and a private patio. Furniture in unit conveys. Basic cable, Water, sewer, security, Heated pool, included in Maintenance fee This community has the best of both country and city living on the banks of the Manatee River. Many amenities including pool, fishing, tennis courts and access to Manatee River. Close to Fort Hamer bridge

18. 2020-06-06
    listed $148,900 Active 482-char remark

    Show marketing remark (482 chars)

    Fantastic ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, Double Oven, a wonderful Florida room and a private patio. Furniture in unit conveys. Basic cable, Water, sewer, security, Heated pool, included in Maintenance fee This community has the best of both country and city living on the banks of the Manatee River. Many amenities including pool, fishing, tennis courts and access to Manatee River. Close to Fort Hamer bridge

19. 2016-04-12
    soldstatus $31,000 Sold 414-char remark

    Show marketing remark (414 chars)

    Tiled spacious 2 bedroom, 2 bath ground floor unit with enclosed lanai off living area and private open patio off living area and master bedroom. No dishwasher but place for one in kitchen. Lots of closet space in both bedrooms and extra sink outside master bath. Currently Land Lease Title but Homeowners Association working with State to convert to condo complex with Fee Simple title. Call for more information.

20. 2016-03-13
    status Pending 414-char remark

    Show marketing remark (414 chars)

    Tiled spacious 2 bedroom, 2 bath ground floor unit with enclosed lanai off living area and private open patio off living area and master bedroom. No dishwasher but place for one in kitchen. Lots of closet space in both bedrooms and extra sink outside master bath. Currently Land Lease Title but Homeowners Association working with State to convert to condo complex with Fee Simple title. Call for more information.

21. 2016-03-01
    status Active 414-char remark

    Show marketing remark (414 chars)

    Tiled spacious 2 bedroom, 2 bath ground floor unit with enclosed lanai off living area and private open patio off living area and master bedroom. No dishwasher but place for one in kitchen. Lots of closet space in both bedrooms and extra sink outside master bath. Currently Land Lease Title but Homeowners Association working with State to convert to condo complex with Fee Simple title. Call for more information.

22. 2016-02-22
    status Pending 414-char remark

    Show marketing remark (414 chars)

    Tiled spacious 2 bedroom, 2 bath ground floor unit with enclosed lanai off living area and private open patio off living area and master bedroom. No dishwasher but place for one in kitchen. Lots of closet space in both bedrooms and extra sink outside master bath. Currently Land Lease Title but Homeowners Association working with State to convert to condo complex with Fee Simple title. Call for more information.

23. 2015-11-20
    listed $74,900 Active 414-char remark

    Show marketing remark (414 chars)

    Tiled spacious 2 bedroom, 2 bath ground floor unit with enclosed lanai off living area and private open patio off living area and master bedroom. No dishwasher but place for one in kitchen. Lots of closet space in both bedrooms and extra sink outside master bath. Currently Land Lease Title but Homeowners Association working with State to convert to condo complex with Fee Simple title. Call for more information.

24. 2011-06-21
    historical
25. 2007-10-17
    listed $119,900

ⓘ 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: $2,701 · $225/mo
• Projected year-2 tax: $2,701 · $225/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,318
• − Mortgage interest: −$9,467
• − Property taxes: −$2,701
• − Insurance: −$845
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$6,000
• − Depreciation: −$4,916
• Taxable loss: −$982
• Est. tax savings @ 24.0%: +$236
• After-tax cash flow: $1,636/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 — Lakewood Ranch

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Manatee County · 416,364 people
• City population: 52,177
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 25,536
• Household income: $125,486
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 383.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Vietnamese 2%

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: ▼ -1.82%
• Current HPI: 276.7636
• Rent YoY: ▼ -3.44%
• 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

+41.0% since first listed

11 events — show timeline

• 2026-02-06 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2020-11-20 Sold (MLS) $149,000 Stellar MLS as Distributed by MLS Grid
• 2020-08-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-06-06 Listed $148,900 Stellar MLS as Distributed by MLS Grid
• 2016-04-12 Sold (MLS) $31,000 Stellar MLS as Distributed by MLS Grid
• 2016-03-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-03-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-02-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-11-20 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2011-06-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-10-17 Listed $119,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+16.0%/yr

Latest (2025): $2,701 · +9.5% YoY. Source: county tax records.