662 Circlewood Dr #662 · South Venice, FL 34293

$125,000

2 bd · 2.0 ba · 1,100 sqft · Condo · 77 Days on market

Built 1972 Fair condition $410/mo HOA · 19% of rent ↓ 16% since listing

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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 +29.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert, motivated Seller. A rare find-affordable housing big price drop, two bedroom two bath Villa, great for retired or someone just staring out, some work required but will shape up to be a lovely home when completed, this home has been repiped, freshly painted exterior, some storm shutters and storm smart fabrics for some of the windows, located in a welcoming community with many activities to join in. two pools jacuzzi, club house, library, bocce, shuffleboard, fitness room, horseshoes. five minutes to Manasota Beach fifteen minutes to Casperson and Venice Beach. Easy access to all major highways & shopping. Join in the activities afforded in beautiful downtown Venice, shopping, theater, and many dining spots to choose from. Approval required which takes about two weeks to process, all paperwork available.

Key facts

• Club house
• Library
• Fitness room

Tags

• TWO POOLS
• JACUZZI
• CLUB HOUSE
• LIBRARY
• FITNESS ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% 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 $864 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 77 days — a 6% lower offer ($118k) 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.73% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 4.8

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,096
• Equity at exit: $18,638

10-year hold

• IRR: 8.9%
• Equity multiple: 1.59×
• Total profit: $20,649
• Equity at exit: $10,808

Cash invested: $35,000 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,168 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$410
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $439

Break-even live

Break-even rent $1,612

Max offer price $125,000

Occupancy floor 75%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-04
   price $125,000 836-char remark

   Show marketing remark (836 chars)

   Investor alert, motivated Seller. A rare find-affordable housing big price drop, two bedroom two bath Villa, great for retired or someone just staring out, some work required but will shape up to be a lovely home when completed, this home has been repiped, freshly painted exterior, some storm shutters and storm smart fabrics for some of the windows, located in a welcoming community with many activities to join in. two pools jacuzzi, club house, library, bocce, shuffleboard, fitness room, horseshoes. five minutes to Manasota Beach fifteen minutes to Casperson and Venice Beach. Easy access to all major highways & shopping. Join in the activities afforded in beautiful downtown Venice, shopping, theater, and many dining spots to choose from. Approval required which takes about two weeks to process, all paperwork available.

2. 2026-03-22
   price $135,000 836-char remark

   Show marketing remark (836 chars)

   Investor alert, motivated Seller. A rare find-affordable housing big price drop, two bedroom two bath Villa, great for retired or someone just staring out, some work required but will shape up to be a lovely home when completed, this home has been repiped, freshly painted exterior, some storm shutters and storm smart fabrics for some of the windows, located in a welcoming community with many activities to join in. two pools jacuzzi, club house, library, bocce, shuffleboard, fitness room, horseshoes. five minutes to Manasota Beach fifteen minutes to Casperson and Venice Beach. Easy access to all major highways & shopping. Join in the activities afforded in beautiful downtown Venice, shopping, theater, and many dining spots to choose from. Approval required which takes about two weeks to process, all paperwork available.

3. 2026-03-13
   listed $149,000 Active 836-char remark

   Show marketing remark (836 chars)

   Investor alert, motivated Seller. A rare find-affordable housing big price drop, two bedroom two bath Villa, great for retired or someone just staring out, some work required but will shape up to be a lovely home when completed, this home has been repiped, freshly painted exterior, some storm shutters and storm smart fabrics for some of the windows, located in a welcoming community with many activities to join in. two pools jacuzzi, club house, library, bocce, shuffleboard, fitness room, horseshoes. five minutes to Manasota Beach fifteen minutes to Casperson and Venice Beach. Easy access to all major highways & shopping. Join in the activities afforded in beautiful downtown Venice, shopping, theater, and many dining spots to choose from. Approval required which takes about two weeks to process, all paperwork available.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $26,021
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − HOA: −$4,920
• − Depreciation: −$3,636
• Taxable income: $3,799
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $4,359/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathrooms, but has a good roof and foundation. It's located in a community with many amenities, making it a good investment opportunity.

Repairs flagged

• Major kitchen appliances — old and worn
• Major kitchen countertops — worn and outdated
• Major bathroom fixtures — dated and worn

Value-add opportunities

• Resale update kitchen appliances and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers
• Both paint interior walls — improves the home's appearance and can be done inexpensively
• Both landscape and improve curb appeal — enhances the home's exterior and can be done inexpensively

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · old and worn	Major	$15,000–50,000
kitchen countertops · worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale update kitchen appliances and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers ↑
• Both paint interior walls — improves the home's appearance and can be done inexpensively ↑
• Both landscape and improve curb appeal — enhances the home's exterior and can be done inexpensively ↑

ⓘ 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 — 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

• 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

-16.1% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-22 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listed $149,000 Stellar MLS as Distributed by MLS Grid