425 Palmetto Dr · South Venice, FL 34293

$219,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 138 Days on market

Built 1960 8,000 sqft lot

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Schools +5.4/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Venice! Come visit this delightful home that is ready for you to move in, rent for income, or use as a seasonal home! Two bedrooms, updated bath, and spacious kitchen are some of the great features. The garage conversion gives you additional living space or as a private bedroom with it's own entrance. Open floor concept joins the living and family rooms with the kitchen, making this a perfect entertaining area. Large laundry provides room for storage and laundry, with a window, hanging bar, and shelving. Outside - the large parking area has room for 3 vehicles with no HOA or CDD restrictions. The fully fenced yard is safe and private for pets and endless outdoor activities. There is an additional storage shed and a fire pit area to enjoy Florida's beautiful weather year round. Luxury Vinyl floors throughout the main living area and bedrooms make a beautiful statement as well as being easy to clean and maintain. Minutes from Historic Downtown Venice, Venice Beach, shopping, and restaurants makes this home convenient to all Venice has to offer. New A/C 2022, New Hot Water Heater 2024, New Water Pump and Pressure Tank 2025, Septic Inspected and Pumped 2026. Rental history available upon request. Thanks for viewing! No seller financing available.

Key facts

• Garage conversion
• Large laundry
• Open floor concept

Tags

• GARAGE CONVERSION
• OPEN FLOOR CONCEPT
• LARGE LAUNDRY
• LARGE PARKING AREA
• FULLY FENCED YARD
• ADDITIONAL STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, 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.
• Market conditions: Rents flat; 1247 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 138 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $219k implies a 87% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.03% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-18,111
• Equity at exit: $32,654

10-year hold

• IRR: -1.8%
• Equity multiple: 0.89×
• Total profit: $-6,845
• Equity at exit: $18,935

Cash invested: $61,320 (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 34293

• Rents YoY: 0.7%
• Active inventory: 1247
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$185 /mo · $2,219/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $353

Break-even live

Break-even rent $1,803

Max offer price $219,000

Occupancy floor 79%

Sensitivity live

Price	-10% $477	-5% $415	+0% $353	+5% $291	+10% $229
Rent	-10% $175	-5% $264	+0% $353	+5% $442	+10% $531
Rate	-1.0pp $463	-0.5pp $409	base $353	+0.5pp $296	+1.0pp $239

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-08
   statusdays on market $219,000 Pending 138 DOM
2. 2026-06-05
   days on market $219,000 Active 137 DOM
3. 2026-06-03
   days on market $219,000 Active 136 DOM
4. 2026-06-02
   days on market $219,000 Active 135 DOM
5. 2026-06-01
   days on market $219,000 Active 134 DOM
6. 2026-05-31
   days on market $219,000 Active 133 DOM
7. 2026-02-02
   price $219,000 1276-char remark

   Show marketing remark (1276 chars)

   Welcome to Venice! Come visit this delightful home that is ready for you to move in, rent for income, or use as a seasonal home! Two bedrooms, updated bath, and spacious kitchen are some of the great features. The garage conversion gives you additional living space or as a private bedroom with it's own entrance. Open floor concept joins the living and family rooms with the kitchen, making this a perfect entertaining area. Large laundry provides room for storage and laundry, with a window, hanging bar, and shelving. Outside - the large parking area has room for 3 vehicles with no HOA or CDD restrictions. The fully fenced yard is safe and private for pets and endless outdoor activities. There is an additional storage shed and a fire pit area to enjoy Florida's beautiful weather year round. Luxury Vinyl floors throughout the main living area and bedrooms make a beautiful statement as well as being easy to clean and maintain. Minutes from Historic Downtown Venice, Venice Beach, shopping, and restaurants makes this home convenient to all Venice has to offer. New A/C 2022, New Hot Water Heater 2024, New Water Pump and Pressure Tank 2025, Septic Inspected and Pumped 2026. Rental history available upon request. Thanks for viewing! No seller financing available.

8. 2026-01-18
   listed $235,000 Active 1276-char remark

   Show marketing remark (1276 chars)

   Welcome to Venice! Come visit this delightful home that is ready for you to move in, rent for income, or use as a seasonal home! Two bedrooms, updated bath, and spacious kitchen are some of the great features. The garage conversion gives you additional living space or as a private bedroom with it's own entrance. Open floor concept joins the living and family rooms with the kitchen, making this a perfect entertaining area. Large laundry provides room for storage and laundry, with a window, hanging bar, and shelving. Outside - the large parking area has room for 3 vehicles with no HOA or CDD restrictions. The fully fenced yard is safe and private for pets and endless outdoor activities. There is an additional storage shed and a fire pit area to enjoy Florida's beautiful weather year round. Luxury Vinyl floors throughout the main living area and bedrooms make a beautiful statement as well as being easy to clean and maintain. Minutes from Historic Downtown Venice, Venice Beach, shopping, and restaurants makes this home convenient to all Venice has to offer. New A/C 2022, New Hot Water Heater 2024, New Water Pump and Pressure Tank 2025, Septic Inspected and Pumped 2026. Rental history available upon request. Thanks for viewing! No seller financing available.

9. 2023-12-31
   historical $1,800
10. 2023-12-20
    price $1,800
11. 2023-12-13
    listed $1,900
12. 2020-12-21
    soldstatus $117,300
13. 2014-04-04
    soldstatus $83,000
14. 2014-04-02
    soldstatus $83,000 Sold 339-char remark

    Show marketing remark (339 chars)

    Affordable Two Bedroom Home in desireable Neighborhood. A/C 2010, Roof 2012, Septic Drain field 2002, New Water Heater, Water Softener 2013. Move In Ready. Solid Wood Cabinets, cooktop and new kitchen hood. Seller is putting in new Gravel Driveway. . Bonus Room can be Third Bedroom. Great Investment for Snowbird, First Home or Rental.

15. 2014-01-22
    listed $86,900 339-char remark

    Show marketing remark (339 chars)

    Affordable Two Bedroom Home in desireable Neighborhood. A/C 2010, Roof 2012, Septic Drain field 2002, New Water Heater, Water Softener 2013. Move In Ready. Solid Wood Cabinets, cooktop and new kitchen hood. Seller is putting in new Gravel Driveway. . Bonus Room can be Third Bedroom. Great Investment for Snowbird, First Home or Rental.

16. 2013-01-25
    soldstatus $47,900

ⓘ 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: $2,219 · $185/mo
• Projected year-2 tax: $2,219 · $185/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $27,004
• − Mortgage interest: −$12,267
• − Property taxes: −$2,219
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$6,371
• Taxable income: $730
• Est. tax owed @ 24.0%: −$175
• After-tax cash flow: $4,062/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 — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 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: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• 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

+357.2% since first listed

10 events — show timeline

• 2026-02-02 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-18 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-31 Rental Removed $1,800 Avail
• 2023-12-20 Price Changed $1,800 Avail
• 2023-12-13 Listed for Rent $1,900 Avail
• 2020-12-21 Sold (Public Records) $117,300 Public Records
• 2014-04-04 Sold (Public Records) $83,000 Public Records
• 2014-04-02 Sold (MLS) $83,000 Stellar MLS as Distributed by MLS Grid
• 2014-01-22 Listed $86,900 Stellar MLS as Distributed by MLS Grid
• 2013-01-25 Sold (Public Records) $47,900 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,219 · -1.1% YoY. Source: county tax records.