9203 L Pavia Blvd #9203 · Venice, FL 34292

$185,000

2 bd · 2.0 ba · 1,148 sqft · Condo public records · 5 Days on market

Built 2003 $411/mo HOA · 24% of rent ↓ 23% 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).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Appreciation +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Rent growth +1.3/5.0

Listing remarks MLS

Luxury Condo minutes to Venice Island, shopping and activities. Access a Great Gulf Beach within 10 minutes from a choice of 10 in the Venice area. This 2BD/2BA/1 Car garage unit is roomy, high ceilings and shares a great active Community Center with meeting/kitchen, exercise room and cabana adjacent to beautifully landscaped pool area. Enjoy Championship Golf right around the corner or on 1 of 50 area courses within an hours drive. Close to I-75 and major airports this would make a great home away frohome in the heart of Florida`s Suncoast.

Key facts

• Open floor plan
• Water views
• Clubhouse

Tags

• WATER VIEWS
• OPEN FLOOR PLAN
• WALK-IN CLOSETS
• SCREENED LANAI
• HEATED COMMUNITY POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Community features: community mailbox, deed restrictions, sidewalks, association-owned recreation; Full-time management
• Financial info: Monthly condo fee listed as $411 (fee frequency: quarterly); Total monthly fees shown as $411.33; Total annual fees shown as $4,936; Lease restrictions apply
• HOA & community: HOA managed by Argus of Venice Property Management; Quarterly association fees (monthly equivalent listed separately); Association amenities: clubhouse, pool, recreation facilities; Association services include: cable TV, pool maintenance, escrow reserves, building and grounds maintenance, management, pest control, private road upkeep, recreational facilities; Buyer/association approval required; Pets allowed

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; 2 total stories; Unit on 2nd floor; Faces west; One-level interior living
• Construction: Block and stucco construction; Tile roof; Slab foundation
• Exterior features: Lighting; Sidewalks; Pond view; In-ground heated gunite pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Hardwood; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Cathedral ceilings; Ceiling fans; Open floor plan; Split bedroom design; Walk-in closets; Window treatments
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (7.3% below list).
• Recommended offer: $151k (18.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#129 in FL, #1,925 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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 falling (-5.0%/yr); 278 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 (-1.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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 24% 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 $150,589 (18.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 0.93% ✗
• Cap rate: 5.03%
• Cash-on-cash: -4.51%
• DSCR: 0.80
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.19% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.37×
• Total profit: $-32,754
• Equity at exit: $42,970

10-year hold

• IRR: -12.4%
• Equity multiple: 0.04×
• Total profit: $-49,687
• Equity at exit: $43,699

Cash invested: $51,800 (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 34292

• Home prices YoY: -0.5%
• Rents YoY: -5.0%
• Active inventory: 278
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,715 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$77
• HOA: −$411
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-195

Break-even live

Break-even rent $1,961

Max offer price $150,589

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-142	+0% $-195	+5% $-247	+10% $-300
Rent	-10% $-330	-5% $-263	+0% $-195	+5% $-127	+10% $-59
Rate	-1.0pp $-102	-0.5pp $-148	base $-195	+0.5pp $-243	+1.0pp $-291

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $411 · $4,932/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-10
   status $185,000 Pending 5 DOM
2. 2026-06-09
   days on market $185,000 Active 5 DOM
3. 2026-06-08
   days on market $185,000 Active 4 DOM
4. 2026-06-07
   days on market $185,000 Active 3 DOM
5. 2026-06-05
   remarks 699-char remark
6. 2026-06-05
   listed $185,000 Active 1 DOM

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,536 · $128/mo
• Expected delta: +$442/yr (+$37/mo · 40.4%)

ⓘ 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 2/10 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: $20,576
• − Mortgage interest: −$10,363
• − Property taxes: −$1,093
• − Insurance: −$925
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$4,932
• − Depreciation: −$5,382
• Taxable loss: −$5,411
• Est. tax savings @ 24.0%: +$1,299
• After-tax cash flow: $-1,039/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 — Venice

• Score: 80/100
• State rank: #129
• US rank: #1925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Venice, FL
• County: Sarasota County · 448,376 people
• City population: 86,541
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 17,586
• Household income: $80,101
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 716.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Asian 4% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -1.19%
• Current HPI: 232.0703
• Rent YoY: ▼ -4.97%
• 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

-22.9% since first listed

4 events — show timeline

• 2026-06-04 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2007-06-08 Sold (Public Records) $220,000 Public Records
• 2007-05-31 Sold (MLS) $220,000 Stellar MLS as Distributed by MLS Grid
• 2007-01-26 Listed $239,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $1,093 · +3.1% YoY. Source: county tax records.