1531 Placida Rd Unit 4-103 · Englewood, FL 34223

$199,000

2 bd · 2.0 ba · 1,056 sqft · Condo · 386 Days on market

Built 1986 $650/mo HOA · 21% 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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 2 bedroom 2 bath condo overlooking the gorgeous tranquil pool area. This condo is located in the highly sought after Palm Manor complex. The ground floor unit has a lovely tiled lanai and added storage. Upon entering you will immediately be attracted to the large tile that runs throughout. There are upgraded ceiling fans and recessed lighting that add to it's beauty. The natural light flowing into the condo give it a very warm and inviting atmosphere. Located in the heart of Englewood with convenient access to shopping, restaurants, marinas, entertainment, world class beaches and fishing. Palm Manor has many enjoyable activities including tennis courts, a large sparkling pool, shuffle board, the clubhouse, and more. Don't miss this great opportunity to own a wonderful condo. Schedule your private showing today!

Key facts

• Ground floor unit
• Turnkey furnished
• In unit laundry

Tags

• GROUND FLOOR UNIT
• IN UNIT LAUNDRY
• SCREENED IN FRONT PORCH
• TURNKEY FURNISHED
• NEW ROOF
• ASSIGNED PARKING

Property features AI

Finance

• Other: Turnkey furnished; Lease restrictions apply
• Financial info: Monthly condo fee: $650 (quarterly payments reported); Total monthly fees shown as $650; total annual fees shown as $7,800; Condo fees listed as $1,950 (term noted as quarterly)
• HOA & community: Association: PALM MANOR; Quarterly condo/association fees; Condo fees include common area taxes, pool, escrow reserves, insurance, structure and grounds maintenance, management, pest control and recreational facilities; Association amenities: clubhouse, pool, shuffleboard court, tennis courts, community mailbox, street lights; Association approval required; Pets not allowed

Exterior

• Parking: Assigned parking; Reserved parking; Guest parking
• Security: Community mailbox (private mailbox)
• Utilities: Public water; Public sewer; Cable connected; High-speed internet available; Electricity connected; Phone available; Sewer connected; Water connected
• Home design: Condominium; Residential property; One level; Faces south; 2 total stories in building
• Construction: Block construction; Shingle roof; Block and slab foundation; Built as part of a multi-unit building (building #4)
• Exterior features: Covered front porch; Screened porch; Balcony; Exterior lighting; Private mailbox; Tennis courts; Heated in-ground pool; Other exterior features

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Solid surface counters; Thermostat; Other interior features
• Laundry & utility: Washer; Dryer; Laundry closet / inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Englewood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#321 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, health & safety A; Watch: employment C-, amenities F, commute F.
• Charlotte (suburban): math 54% / reading 54% proficiency, ranked #22 of 73 in FL (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+9.0%/yr); 717 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $3,149/mo this rent would consume 50% of the median local household income ($76k/yr) (locally 290% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 386 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $199k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 21% of rent.
• Climate carrying-cost: major flood risk; 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 386 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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 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: 1.58% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.95%
• DSCR: 1.44
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.18×
• Total profit: $10,082
• Equity at exit: $29,672

10-year hold

• IRR: 19.3%
• Equity multiple: 3.13×
• Total profit: $118,945
• Equity at exit: $17,206

Cash invested: $55,720 (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 34223

• Home prices YoY: -34.2%
• Rents YoY: 9.0%
• Active inventory: 717
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,149 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$650
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $396

Break-even live

Break-even rent $2,648

Max offer price $199,000

Occupancy floor 82%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1531 Placida Rd #203 Englewood, FL	2.0	2.0	1056	$3,900	$3.69	20d	1	0.04mi
1531 Placida Rd #204 Englewood, FL	2.0	2.0	1056	$3,500	$3.31	20d	1	0.04mi
1435 New Point Comfort Rd Unit B Englewood, FL	1.0	1.0	744	$1,520	$2.04	20d	1	0.33mi
1575 Loralin Dr Englewood, FL	3.0	2.0	1322	$5,000	$3.78	20d	1	0.48mi
1120 Lampp Dr Englewood, FL	3.0	2.0	1212	$4,000	$3.30	20d	1	0.62mi
1210 S Maryknoll Rd Englewood, FL	2.0	2.0	1063	$2,600	$2.45	20d	1	0.64mi
858 E 7th St Englewood, FL	3.0	2.0	1244	$1,995	$1.60	20d	1	0.67mi
1401 S McCall Rd Unit 301A Englewood, FL	2.0	2.0	1093	$3,300	$3.02	20d	1	0.67mi
1604 Cardinal Ln Unit 1 Englewood, FL	1.0	1.0	750	$1,300	$1.73	20d	1	0.78mi
2275 S McCall Rd #201 Englewood, FL	2.0	2.0	1050	$2,000	$1.90	13d	1	0.91mi
1960 Oregon Trl Unit 2A Englewood, FL	2.0	2.0	1360	$3,750	$2.76	20d	1	1.06mi
1970 Georgia Ave Englewood, FL	3.0	2.0	1160	$11,790	$10.16	20d	1	1.30mi
2643 Lear Rd Englewood, FL	2.0	2.0	1206	$5,800	$4.81	20d	1	1.39mi
6699 San Casa Dr Englewood, FL	2.0	2.0	1028	$1,900	$1.85	20d	1	1.46mi

HOA detail condo

• Monthly dues: $650 · $7,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-30
   status $199,000 Pending 386 DOM
2. 2026-03-16
   price $199,000
3. 2025-05-08
   listed $219,900 Active
4. 2016-04-28
   soldstatus $105,000 Sold 832-char remark

   Show marketing remark (832 chars)

   Beautiful 2 bedroom 2 bath condo overlooking the gorgeous tranquil pool area. This condo is located in the highly sought after Palm Manor complex. The ground floor unit has a lovely tiled lanai and added storage. Upon entering you will immediately be attracted to the large tile that runs throughout. There are upgraded ceiling fans and recessed lighting that add to it's beauty. The natural light flowing into the condo give it a very warm and inviting atmosphere. Located in the heart of Englewood with convenient access to shopping, restaurants, marinas, entertainment, world class beaches and fishing. Palm Manor has many enjoyable activities including tennis courts, a large sparkling pool, shuffle board, the clubhouse, and more. Don't miss this great opportunity to own a wonderful condo. Schedule your private showing today!

5. 2016-03-28
   status Pending 832-char remark

   Show marketing remark (832 chars)

   Beautiful 2 bedroom 2 bath condo overlooking the gorgeous tranquil pool area. This condo is located in the highly sought after Palm Manor complex. The ground floor unit has a lovely tiled lanai and added storage. Upon entering you will immediately be attracted to the large tile that runs throughout. There are upgraded ceiling fans and recessed lighting that add to it's beauty. The natural light flowing into the condo give it a very warm and inviting atmosphere. Located in the heart of Englewood with convenient access to shopping, restaurants, marinas, entertainment, world class beaches and fishing. Palm Manor has many enjoyable activities including tennis courts, a large sparkling pool, shuffle board, the clubhouse, and more. Don't miss this great opportunity to own a wonderful condo. Schedule your private showing today!

6. 2016-02-17
   listed $112,500 Active 832-char remark

   Show marketing remark (832 chars)

   Beautiful 2 bedroom 2 bath condo overlooking the gorgeous tranquil pool area. This condo is located in the highly sought after Palm Manor complex. The ground floor unit has a lovely tiled lanai and added storage. Upon entering you will immediately be attracted to the large tile that runs throughout. There are upgraded ceiling fans and recessed lighting that add to it's beauty. The natural light flowing into the condo give it a very warm and inviting atmosphere. Located in the heart of Englewood with convenient access to shopping, restaurants, marinas, entertainment, world class beaches and fishing. Palm Manor has many enjoyable activities including tennis courts, a large sparkling pool, shuffle board, the clubhouse, and more. Don't miss this great opportunity to own a wonderful condo. Schedule your private showing today!

7. 2013-11-04
   historical
8. 2013-02-25
   listed $82,900

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $37,783
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$1,792
• − Repairs & maintenance: −$3,023
• − Management: −$3,023
• − HOA: −$7,800
• − Depreciation: −$5,789
• Taxable income: $2,224
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $4,214/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: Charlotte
• NCES district ID: 1200240
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $44,864
• Composite: 45.62/100
• National rank: #2586
• State rank: #22 of 73 in FL

Livability — Englewood

• Score: 73/100
• State rank: #321
• US rank: #5655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Englewood, FL
• County: Sarasota County · 448,376 people
• City population: 35,420
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,884
• Household income: $76,016
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 290.0

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 198,646 people
• By 2030: 210,507 · +6.0%
• By 2040: 230,857 · +16.2%
• By 2050: 247,148 · +24.4%
• By 2075: 281,777 · +41.8%
• By 2100: 293,609 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 4% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 94% English-only · German/W. Germanic 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+34.0) · D 32.7% · R 66.7%
• 2008→2024 swing: -26.7pp toward R · 2008: -7.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+26.6 2016: R+27.8 2012: R+14.3 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.26%
• Current HPI: 281.0529
• Rent YoY: ▲ 9.02%
• 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

+140.0% since first listed

7 events — show timeline

• 2026-03-16 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-08 Listed $219,900 Stellar MLS as Distributed by MLS Grid
• 2016-04-28 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2016-03-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-02-17 Listed $112,500 Stellar MLS as Distributed by MLS Grid
• 2013-11-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2013-02-25 Listed $82,900 Stellar MLS as Distributed by MLS Grid