1509 Pleasant Rd Unit A4 · Bayshore Gardens, FL 34207

$99,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 2 Days on market

Built 1964 $253/mo HOA · 22% of rent

---

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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pristinely updated ground floor condo in the very affordable community of Bayshore Condominiums. This 55+ community offers a very active lifestyle with a heated pool, shuffleboard courts, and a clubhouse where you can enjoy getting together with your neighbors and friends. This beautifully updated condo sits right on the courtyard with easy access to the amenities from your patio. Affordability is one of the best reasons to own here, this home is perfect for either a full-time residence or for the winter resident escaping the cold Northern winters. This community is centrally located to the beaches, both downtown Bradenton and Sarasota and SRQ Airport. Enjoy spending your free time at festivals, museums, and shows, and there is also plenty of fine dining in either Bradenton or Sarasota. Don't miss out on this little GEM, call your Realtor today!

Key facts

• Active clubhouse
• Shuffleboard courts
• Heated pool

Tags

• GROUND FLOOR COURTYARD VIEW
• PARKING AT YOUR FRONT DOOR
• HEATED POOL
• ACTIVE CLUBHOUSE
• GRILLING AREA
• SHUFFLEBOARD COURTS

Property features AI

Finance

• Other: Directions: From 14th St. W. go West onto Flamingo Blvd., take the next right onto Todd St., then left on Pleasant; first building on the right. Please park in space #4.
• Financial info: Total annual fees: $3,036; Lease restrictions apply
• HOA & community: Association: Bayshore Gardens Condo/Lynn; Monthly condo fee: $253 (includes cable TV, common area taxes, pool, building and grounds maintenance, management, pest control, private road, trash); Association amenities: Clubhouse, Laundry, Pool, Shuffleboard court; Buyer/association approval required; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking (see directions for space #4)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; One-level unit (floor 1); Faces south
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building A
• Exterior features: Sliding doors; Storage; Gunite heated in-ground pool

Interior

• Kitchen: Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Mini-split cooling unit(s)
• Interior features: Living room/dining room combo; Solid wood cabinets; Stone counters; Window treatments; Blinds
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $-9 ($-113/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (1.7% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $97k (1.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 4.7% in Bayshore Gardens — 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 82/100 on livability (#72 in FL, #1,180 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute C-, employment F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bayshore Elementary School (math 51% / reading 36%, grade F, #1,345 of 2,144 statewide, top 64%, 701 students, 72% FRL); Electa Lee Magnet Middle School (math 27% / reading 28%, grade F, #495 of 571 statewide, top 87%, 759 students, 68% FRL); Bayshore High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 1,435 students, 65% FRL) — zoned schools average 68% FRL vs 51% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 52% district-wide (-21 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-5.5%/yr); 362 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 31% of the median local income ($45k/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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,331 (1.7% 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. Built in 1964 — 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. 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?
7. 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?
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: 1.18% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 7.0

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: -21.5%
• Equity multiple: 0.28×
• Total profit: $-19,906
• Equity at exit: $14,761

10-year hold

• IRR: -30.2%
• Equity multiple: -0.11×
• Total profit: $-30,680
• Equity at exit: $8,560

Cash invested: $27,720 (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 34207

• Rents YoY: -5.5%
• Active inventory: 362
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,172 high
• Mortgage (P&I): −$519
• Tax from tax record: −$122 /mo · $1,459/yr
• Insurance: −$41
• HOA: −$253
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-9

Break-even live

Break-even rent $1,184

Max offer price $97,331

Occupancy floor 96%

Sensitivity live

Price	-10% $47	-5% $19	+0% $-9	+5% $-37	+10% $-65
Rent	-10% $-102	-5% $-56	+0% $-9	+5% $37	+10% $83
Rate	-1.0pp $40	-0.5pp $16	base $-9	+0.5pp $-35	+1.0pp $-61

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5908 17th St W Unit C36 Bradenton, FL	1.0	1.0	576	$950	$1.65	18d	1	0.13mi
1566 Pleasant Rd Unit J24 Bradenton, FL	2.0	1.0	733	$1,150	$1.57	25d	1	0.13mi
5888 17th St W Unit C23 Bradenton, FL	1.0	1.0	576	$1,100	$1.91	25d	1	0.16mi
1807 Restful Dr Unit N4 Bradenton, FL	2.0	1.0	733	$1,150	$1.57	5d	1	0.17mi
1825 Flamingo Blvd Unit O26 Bradenton, FL	1.0	1.0	576	$1,000	$1.74	25d	1	0.21mi
1839 Sunny Dr Unit E36 Bradenton, FL	1.0	1.0	576	$1,350	$2.34	25d	1	0.21mi
1859 Restful Dr Unit L26 Bradenton, FL	1.0	1.0	576	$1,150	$2.00	25d	1	0.22mi
1875 Sunny Dr Unit G32 Bradenton, FL	1.0	1.0	576	$1,100	$1.91	25d	1	0.23mi
1874 Sunny Dr Unit F32 Bradenton, FL	2.0	1.0	744	$950	$1.28	25d	1	0.26mi
5858 Welcome Rd Unit J23 Bradenton, FL	2.0	1.0	744	$1,150	$1.55	5d	1	0.27mi
5955 Palm Ln Unit A33 Bradenton, FL	2.0	1.0	744	$1,150	$1.55	16d	1	0.31mi
2028 Canal Dr Unit M26 Bradenton, FL	1.0	1.0	576	$1,050	$1.82	12d	1	0.36mi
5531 16th St W Unit 5537 Bradenton, FL	2.0	1.0	750	$1,650	$2.20	5d	1	0.41mi
2547 60th Ave W Unit L-36 Bradenton, FL	1.0	1.0	576	$1,100	$1.91	18d	1	0.51mi
5310 26th St W Bradenton, FL	1.0–2.0	1.0	789	$1,250	$1.58	13d	5	0.96mi
5310 26th St W Bradenton, FL	1.0–2.0	1.0	789	$1,250	$1.58	5d	4	0.96mi
5310 26th St W Bradenton, FL	1.0–2.0	1.0	789	$1,250	$1.58	21d	5	0.96mi
5400 26th St W Bradenton, FL	1.0–2.0	1.0–2.0	902	$1,358	$1.50	25d	1	0.99mi
915 50th Avenue Plz W Bradenton, FL	2.0	1.0	700	$1,200	$1.71	25d	1	1.13mi
205 52nd Avenue Dr W Bradenton, FL	1.0	1.0	528	$1,200	$2.27	25d	1	1.14mi
2803 52nd Avenue Dr W Unit 2803 Bradenton, FL	2.0	1.0	750	$1,599	$2.13	25d	1	1.16mi
110 52nd Avenue Ter E Bradenton, FL	2.0	1.5	684	$1,450	$2.12	25d	1	1.20mi
5001 22nd St W Unit B Bradenton, FL	2.0	1.0	729	$1,700	$2.33	18d	1	1.20mi
6050 34th St W Bradenton, FL	1.0–2.0	1.0	734	$1,185	$1.61	3d	19	1.23mi
707 50th Ave W Bradenton, FL	2.0	1.0	730	$1,150	$1.58	25d	1	1.24mi
6916 Marlin Ln Bradenton, FL	2.0	1.0	430	$1,250	$2.91	25d	1	1.36mi
2835 50th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	850	$1,269	$1.49	5d	16	1.41mi

HOA detail condo

• Monthly dues: $253 · $3,036/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-22
   remarks 699-char remark
2. 2026-06-22
   listed $99,000 Active 2 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: $1,459 · $122/mo
• Projected year-2 tax: $1,459 · $122/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 ≥106°F today · 31 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,059
• − Mortgage interest: −$5,546
• − Property taxes: −$1,459
• − Insurance: −$495
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − HOA: −$3,036
• − Depreciation: −$2,880
• Taxable loss: −$1,606
• Est. tax savings @ 24.0%: +$385
• After-tax cash flow: $272/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Bayshore Gardens

• Score: 82/100
• State rank: #72
• US rank: #1180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayshore Gardens, FL
• County: Manatee County · 416,364 people
• City population: 33,840
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 34,081
• Household income: $45,010
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1474.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 58% Hispanic / Latino 29% Two or more races 13% Black 7%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 22% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -305.32%
• Current HPI: 369.9899
• Rent YoY: ▼ -5.50%
• 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

+312.5% since first listed

7 events — show timeline

• 2026-06-19 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-16 Sold (Public Records) $110,000 Public Records
• 2024-07-09 Sold (MLS) $110,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-03-30 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2024-01-21 Listed $129,000 Stellar MLS as Distributed by MLS Grid
• 1987-02-01 Sold (Public Records) $24,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $1,459 · +19.7% YoY. Source: county tax records.