5476 Swift Rd #19 · Ridge Wood Heights, FL 34231

$147,900

2 bd · 2.0 ba · 1,095 sqft · Condo public records · 64 Days on market

Built 1981 $725/mo HOA · 36% of rent ↓ 5% since listing

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Why this score? — see what drove the D 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).

• 1% rule +8.8/10.0
• Cash flow +8.4/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Live the Florida lifestyle you’ve been dreaming of—just minutes from the powdery white sands of Siesta Key Beach. This rarely available ground-floor, two-bedroom, two-bath end-unit condo combines location, upgrades, and effortless living in one exceptional package. From the moment you step inside, you’ll notice the light-filled, airy feel enhanced by extra windows—an exclusive perk of end-unit living—and a desirable south-facing position. This home features newer luxury vinyl flooring, newer appliances, impact windows (2019), AC (2020), and a brand-new roof (2025), offering true peace of mind. The open-concept layout seamlessly connects the living, dining, and kitchen areas—perfect for entertaining or simply relaxing after a day at the beach. Step outside through sliding glass doors to your oversized screened-in patio, where morning coffee and evening breezes become part of your daily routine. Located in Imperial Place, residents enjoy a community pool and convenient access to nearby attractions all while being just minutes from shopping, dining, and everyday essentials at Detwiler's Farm Market and the nearby Costco. Plus, you’re within easy reach of Downtown Sarasota, Venice, Sarasota-Bradenton International Airport, The Mall at University Town Center, and the natural beauty of Myakka River State Park. Whether you’re searching for a full-time residence, seasonal escape, or income-producing investment, this is the kind of opportunity that doesn’t last.

Key facts

• $725 HOA
• Community pool
• Built 1981

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (15.8% below list).
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $124k (15.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#470 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: 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 soft (-2.1%/yr); 562 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 35% of the median local income ($70k/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 64 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,496 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.38% ✓
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• GRM: 6.0

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: -28.6%
• Equity multiple: 0.08×
• Total profit: $-37,903
• Equity at exit: $22,052

10-year hold

• IRR: -69.2%
• Equity multiple: -0.57×
• Total profit: $-65,030
• Equity at exit: $12,788

Cash invested: $41,412 (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 34231

• Rents YoY: -2.1%
• Active inventory: 562
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,038 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$62
• HOA: −$725
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-132

Break-even live

Break-even rent $2,206

Max offer price $124,496

Occupancy floor —

Sensitivity live

Price	-10% $-49	-5% $-91	+0% $-132	+5% $-174	+10% $-216
Rent	-10% $-293	-5% $-213	+0% $-132	+5% $-52	+10% $29
Rate	-1.0pp $-58	-0.5pp $-95	base $-132	+0.5pp $-171	+1.0pp $-210

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: $36,975
• Closing costs: $4,437
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $725 · $8,700/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $147,900 Active 64 DOM
2. 2026-06-17
   days on market $147,900 Active 63 DOM
3. 2026-06-16
   days on market $147,900 Active 62 DOM
4. 2026-06-15
   days on market $147,900 Active 61 DOM
5. 2026-06-13
   days on market $147,900 Active 59 DOM
6. 2026-06-13
   days on market $147,900 Active 58 DOM
7. 2026-06-10
   days on market $147,900 Active 56 DOM
8. 2026-06-09
   days on market $147,900 Active 55 DOM
9. 2026-06-08
   days on market $147,900 Active 54 DOM
10. 2026-06-08
    days on market $147,900 Active 53 DOM
11. 2026-06-05
    days on market $147,900 Active 50 DOM
12. 2026-06-03
    days on market $147,900 Active 49 DOM
13. 2026-06-02
    days on market $147,900 Active 48 DOM
14. 2026-06-01
    days on market $147,900 Active 47 DOM
15. 2026-05-31
    days on market $147,900 Active 46 DOM
16. 2026-05-11
    price $147,900 1531-char remark

    Show marketing remark (1531 chars)

    Live the Florida lifestyle you’ve been dreaming of—just minutes from the powdery white sands of Siesta Key Beach. This rarely available ground-floor, two-bedroom, two-bath end-unit condo combines location, upgrades, and effortless living in one exceptional package. From the moment you step inside, you’ll notice the light-filled, airy feel enhanced by extra windows—an exclusive perk of end-unit living—and a desirable south-facing position. This home features newer luxury vinyl flooring, newer appliances, impact windows (2019), AC (2020), and a brand-new roof (2025), offering true peace of mind. The open-concept layout seamlessly connects the living, dining, and kitchen areas—perfect for entertaining or simply relaxing after a day at the beach. Step outside through sliding glass doors to your oversized screened-in patio, where morning coffee and evening breezes become part of your daily routine. Located in Imperial Place, residents enjoy a community pool and convenient access to nearby attractions all while being just minutes from shopping, dining, and everyday essentials at Detwiler's Farm Market and the nearby Costco. Plus, you’re within easy reach of Downtown Sarasota, Venice, Sarasota-Bradenton International Airport, The Mall at University Town Center, and the natural beauty of Myakka River State Park. Whether you’re searching for a full-time residence, seasonal escape, or income-producing investment, this is the kind of opportunity that doesn’t last.

17. 2026-04-15
    listed $154,900 Active 1531-char remark

    Show marketing remark (1531 chars)

    Live the Florida lifestyle you’ve been dreaming of—just minutes from the powdery white sands of Siesta Key Beach. This rarely available ground-floor, two-bedroom, two-bath end-unit condo combines location, upgrades, and effortless living in one exceptional package. From the moment you step inside, you’ll notice the light-filled, airy feel enhanced by extra windows—an exclusive perk of end-unit living—and a desirable south-facing position. This home features newer luxury vinyl flooring, newer appliances, impact windows (2019), AC (2020), and a brand-new roof (2025), offering true peace of mind. The open-concept layout seamlessly connects the living, dining, and kitchen areas—perfect for entertaining or simply relaxing after a day at the beach. Step outside through sliding glass doors to your oversized screened-in patio, where morning coffee and evening breezes become part of your daily routine. Located in Imperial Place, residents enjoy a community pool and convenient access to nearby attractions all while being just minutes from shopping, dining, and everyday essentials at Detwiler's Farm Market and the nearby Costco. Plus, you’re within easy reach of Downtown Sarasota, Venice, Sarasota-Bradenton International Airport, The Mall at University Town Center, and the natural beauty of Myakka River State Park. Whether you’re searching for a full-time residence, seasonal escape, or income-producing investment, this is the kind of opportunity that doesn’t last.

ⓘ 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: $2,164 · $180/mo
• Projected year-2 tax: $2,164 · $180/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $24,457
• − Mortgage interest: −$8,285
• − Property taxes: −$2,164
• − Insurance: −$740
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − HOA: −$8,700
• − Depreciation: −$4,303
• Taxable loss: −$3,647
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $-715/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 — Ridge Wood Heights

• Score: 69/100
• State rank: #470
• US rank: #8497

Category grades

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

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): 32,404
• Household income: $69,925
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1983.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Russian/Polish/Slavic 2% German/W. Germanic 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: ▼ -448.92%
• Current HPI: 292.9055
• Rent YoY: ▼ -2.13%
• 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

-4.5% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $147,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Listed $154,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $2,164 · -4.6% YoY. Source: county tax records.