3221 Beneva Rd #102 · Southgate, FL 34232

$153,900

2 bd · 2.0 ba · 964 sqft · Condo public records · 55 Days on market

Built 1978 $438/mo HOA · 22% of rent

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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).

• Cash flow +15.8/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.9/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled 1st floor unit. Wood floors throughout. Tenant is willing to stay.

Key facts

• Heated pools
• Tennis courts
• Shaded gazebos

Tags

• HEATED POOLS
• TENNIS COURTS
• SHUFFLEBOARD
• SERENE PONDS
• SHADED GAZEBOS
• BBQ GRILLS

Property features AI

Finance

• Other: Association contact: Stacey Katz; Furnished: negotiable; Third party/other listing involvement noted
• Financial info: Total monthly fees $438; total annual fees $5,256; Lease restrictions in effect
• HOA & community: Monthly condo fee of $438 (includes cable TV, pool, insurance, internet, maintenance - structure & grounds, management, pest control, private road, recreational facilities, sewer, trash, water, escrow reserves); Association approval required; buyer approval required; Association amenities: clubhouse, laundry, pool, tennis courts, pickleball courts, shuffleboard, recreation facilities; Community features: clubhouse, community mailbox, deed restrictions, no truck/RV/motorcycle parking, street lights; Pets not allowed

Exterior

• Parking: Guest parking
• Security: Security lights; Smoke detectors
• Utilities: Public water (also canal/lake irrigation available); Public sewer; Electricity connected; BB/HS internet available; Cable available; Phone available; Underground utilities; Fire hydrant nearby; Water and sewer available/connected
• Home design: Residential condominium; One-level living (unit on floor 1); Building faces east; Completed condition; Two-story building total
• Construction: Block and stucco construction; Tile roof; Slab foundation; Built as part of a multi-building condominium (building number 8)
• Exterior features: Rear screened porch; Outdoor lighting; Outdoor grill; Outdoor shower; Rain gutters; Tennis court(s); Gazebo; Storage; Mature landscaping with bamboo, fruit trees, oak trees and other trees; Landscaped, level grounds; Near golf course; Near public transit; Paved surfaces; Private maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Range hood; Refrigerator; Electric water heater; Exhaust fan
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Solid wood cabinets; Thermostat; Walk-in closet(s); Aluminum frame windows with blinds
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $154k.

Deal economics

• At list price, monthly cash flow is $71 ($852/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $149k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#397 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment C-, 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.
• Zoned schools: Wilkinson Elementary School (math 43% / reading 43%, grade F, #1,366 of 2,144 statewide, top 64%, 460 students, 77% FRL); Sarasota High School (math 53% / reading 59%, grade C, #131 of 667 statewide, top 20%, 2,528 students, 43% FRL) — zoned schools average 60% FRL vs 42% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 63% district-wide (-14 pts) — the specific schools serving this property underperform the Sarasota average; the district grade overstates school quality for this exact location.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 55 days — a 3% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $149,283 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• GRM: 6.5

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: -17.7%
• Equity multiple: 0.40×
• Total profit: $-25,894
• Equity at exit: $22,947

10-year hold

• IRR: -20.7%
• Equity multiple: 0.12×
• Total profit: $-37,842
• Equity at exit: $13,306

Cash invested: $43,092 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,968 medium
• Mortgage (P&I): −$807
• Tax from tax record: −$174 /mo · $2,093/yr
• Insurance: −$64
• HOA: −$438
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $71

Break-even live

Break-even rent $1,878

Max offer price $153,900

Occupancy floor 91%

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: $38,475
• Closing costs: $4,617
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $438 · $5,256/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $153,900 Active 55 DOM
2. 2026-06-17
   days on market $153,900 Active 54 DOM
3. 2026-06-16
   days on market $153,900 Active 53 DOM
4. 2026-06-15
   days on market $153,900 Active 52 DOM
5. 2026-06-13
   days on market $153,900 Active 50 DOM
6. 2026-06-13
   days on market $153,900 Active 49 DOM
7. 2026-06-10
   days on market $153,900 Active 47 DOM
8. 2026-06-09
   days on market $153,900 Active 46 DOM
9. 2026-06-08
   days on market $153,900 Active 45 DOM
10. 2026-06-08
    days on market $153,900 Active 44 DOM
11. 2026-06-05
    days on market $153,900 Active 41 DOM
12. 2026-06-03
    days on market $153,900 Active 40 DOM
13. 2026-06-02
    days on market $153,900 Active 39 DOM
14. 2026-06-01
    days on market $153,900 Active 38 DOM
15. 2026-05-31
    days on market $153,900 Active 37 DOM
16. 2026-05-12
    price $153,900 1015-char remark
17. 2026-04-24
    listed $159,900 Active 1015-char remark
18. 2025-07-07
    historical $1,650
19. 2025-05-31
    price $1,650
20. 2025-05-16
    listed $1,750
21. 2005-04-14
    soldstatus $150,000
22. 2005-04-08
    soldstatus $150,000 88-char remark

    Show marketing remark (88 chars)

    Beautifully remodeled 1st floor unit. Wood floors throughout. Tenant is willing to stay.

23. 2005-03-01
    listed $154,900 88-char remark

    Show marketing remark (88 chars)

    Beautifully remodeled 1st floor unit. Wood floors throughout. Tenant is willing to stay.

24. 2004-07-07
    soldstatus $110,000
25. 2002-08-01
    soldstatus $85,000
26. 1996-05-15
    soldstatus $51,000

ⓘ 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: $2,093 · $174/mo
• Projected year-2 tax: $2,093 · $174/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 · 28 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: $23,615
• − Mortgage interest: −$8,621
• − Property taxes: −$2,093
• − Insurance: −$770
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − HOA: −$5,256
• − Depreciation: −$4,477
• Taxable loss: −$1,380
• Est. tax savings @ 24.0%: +$331
• After-tax cash flow: $1,183/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 — Southgate

• Score: 71/100
• State rank: #397
• US rank: #7021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 14,795
• 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

+201.8% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $153,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-07 Rental Removed $1,650 STELLARMLS
• 2025-05-31 Price Changed $1,650 STELLARMLS
• 2025-05-16 Listed for Rent $1,750 STELLARMLS
• 2005-04-14 Sold (Public Records) $150,000 Public Records
• 2005-04-08 Sold (MLS) $150,000 Stellar MLS as Distributed by MLS Grid
• 2005-03-01 Listed $154,900 Stellar MLS as Distributed by MLS Grid
• 2004-07-07 Sold (Public Records) $110,000 Public Records
• 2002-08-01 Sold (Public Records) $85,000 Public Records
• 1996-05-15 Sold (Public Records) $51,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $2,093 · -0.6% YoY. Source: county tax records.