3715 Colby St · Sarasota, FL 34232

$149,000

4 bd · 2.5 ba · 1,368 sqft · Townhouse · 40 Days on market

Built 1972 Fair condition $499/mo HOA · 20% of rent

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Why this score? — see what drove the B- 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 +28.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION - LOCATION. 4 bedroom, 2.5 bathroom condominium It is centrally location in the heart of Sarasota. Close to Downtown Sarasota, I-75, UTC mall, beaches and Located near the recently updated Bobby Jones Golf Course . Close to the Legacy Trail. Easy parking with 2 spaces directly in front of the unit!

Key facts

• Heart of sarasota
• Centrally located
• Close to utc mall

Tags

• CENTRALLY LOCATED
• HEART OF SARASOTA
• CLOSE TO DOWNTOWN SARASOTA
• CLOSE TO UTC MALL
• CLOSE TO BEACHES
• NEAR BOBBY JONES GOLF COURSE

Property features AI

Finance

• Other: Taxes reported for 2025 (amount listed separately); Location directions available
• Financial info: Total annual HOA fees reported as $5,988; Lease restrictions not indicated
• HOA & community: Monthly HOA fee of $499; HOA covers structure and grounds maintenance; Association approval required; Association name: Lisa; Cats and dogs allowed

Exterior

• Parking: Parking details not provided
• Security: Buyer approval required for association
• Utilities: Public water; Public sewer; Public utilities
• Home design: Residential townhouse; Two levels; Faces south; Entry level information not provided
• Construction: Stucco construction; Shingle roof; Built on slab foundation; Building area reported as 1,578 total square feet
• Exterior features: Sliding doors; Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Walk-in closets
• Laundry & utility: Dedicated laundry room; Slab foundation

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime 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 falling (-3.5%/yr); 265 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 38% of the median local income ($81k/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 $4k 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 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
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: 1.72% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.16%
• DSCR: 1.63
• GRM: 4.9

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $62
• Equity at exit: $22,216

10-year hold

• IRR: 5.1%
• Equity multiple: 1.31×
• Total profit: $12,860
• Equity at exit: $12,883

Cash invested: $41,720 (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 34232

• Rents YoY: -3.5%
• Active inventory: 265
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,558 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$499
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $492

Break-even live

Break-even rent $1,935

Max offer price $149,000

Occupancy floor 76%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $499 · $5,988/yr

Listing history 16 events

1. 2026-06-18
   days on market $149,000 Active 40 DOM
2. 2026-06-17
   days on market $149,000 Active 39 DOM
3. 2026-06-16
   days on market $149,000 Active 38 DOM
4. 2026-06-15
   days on market $149,000 Active 37 DOM
5. 2026-06-13
   days on market $149,000 Active 35 DOM
6. 2026-06-13
   days on market $149,000 Active 34 DOM
7. 2026-06-10
   days on market $149,000 Active 32 DOM
8. 2026-06-09
   days on market $149,000 Active 31 DOM
9. 2026-06-08
   days on market $149,000 Active 30 DOM
10. 2026-06-08
    days on market $149,000 Active 29 DOM
11. 2026-06-05
    days on market $149,000 Active 26 DOM
12. 2026-06-03
    days on market $149,000 Active 25 DOM
13. 2026-06-02
    days on market $149,000 Active 24 DOM
14. 2026-06-01
    days on market $149,000 Active 23 DOM
15. 2026-05-31
    days on market $149,000 Active 22 DOM
16. 2026-05-09
    listed $149,000 Active 309-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 29 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: $30,700
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$2,456
• − Management: −$2,456
• − HOA: −$5,988
• − Depreciation: −$4,335
• Taxable income: $4,139
• Est. tax owed @ 24.0%: −$993
• After-tax cash flow: $4,915/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations to improve its curb appeal and interior aesthetics, which would significantly increase its resale and rental value.

Repairs flagged

• Moderate Exterior siding — Weathered appearance
• Moderate Kitchen cabinets — Appears dated
• Moderate Bathroom fixtures — Appears dated
• Moderate Paint — Slightly faded

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics
• Both Updating bathroom fixtures — Enhances functionality and appeal
• Both Flooring replacement — Improves durability and appearance
• Both Exterior siding repair — Enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Kitchen cabinets · Appears dated	Moderate	$3,000–15,000
Bathroom fixtures · Appears dated	Moderate	$3,000–15,000
Paint · Slightly faded	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics ↑
• Both Updating bathroom fixtures — Enhances functionality and appeal ↑
• Both Flooring replacement — Improves durability and appearance ↑
• Both Exterior siding repair — Enhances curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sarasota, FL
• County: Sarasota County · 448,376 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 34,013
• Household income: $80,795
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1676.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 8% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 10% German/W. Germanic 2% Other Indo-European 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: ▼ -426.24%
• Current HPI: 337.9799
• Rent YoY: ▼ -3.45%
• 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

1 event — show timeline

• 2026-05-09 Listed $149,000 Stellar MLS as Distributed by MLS Grid