605 Apple Ln · Englewood, FL 34223

$194,900

2 bd · 2.0 ba · 1,112 sqft · Condo public records · 223 Days on market

Built 1985 $578/mo HOA · 23% of rent

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Why this score? — see what drove the C- 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 +7.9/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.9/10.0
• Rent growth +4.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Coastal Living in a Vibrant 55+ Community – Turnkey & Move-In Ready! Welcome to Foxwood, one of Englewood’s most desirable 55+ communities—just minutes from the beautiful beaches of Manasota Key! This turnkey 2-bedroom, 2-bath villa offers easy, maintenance-free living with peace of mind and plenty of upgrades. You’ll love the open floor plan, enclosed 4 seasoned sun-room, and attached garage. Recent updates include a brand-new A/C unit with a 10-year transferable warranty, new roof, fresh exterior paint, and a hurricane-rated garage door. Best of all—this home sustained no hurricane damage, has no insurance claims, and is not in a flood zone! Foxwood residents enjoy an active and friendly lifestyle with amenities that make every day feel like a vacation: a heated pool and spa, clubhouse with social events year-round, bocce ball, pickleball, tennis, shuffleboard, library, and even a pool table. Take a morning walk along the beautifully maintained grounds or relax by the pool with friends. Internet and TV are included in the monthly condo fee—just one more reason this community is such a great value. Conveniently located near gorgeous Gulf beaches, golf courses, parks, and top-rated dining, you’ll have endless opportunities for recreation—whether it’s fishing, boating, kayaking, or simply soaking in the Florida sunshine. Sports fans will appreciate being close to Atlanta Braves and Tampa Bay Rays spring training facilities. Don’t miss this opportunity to own your slice of paradise in one of Englewood’s most social and well-kept 55+ communities. Start living the Florida lifestyle you’ve dreamed of—schedule your private showing today!

Key facts

• New a/c unit
• Enclosed sun-room
• Fresh exterior paint

Tags

• TURNKEY
• MAINTENANCE-FREE LIVING
• ENCLOSED SUN-ROOM
• NEW A/C UNIT
• NEW ROOF
• FRESH EXTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.
• 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 rising fast (+9.0%/yr); 717 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 40% of the median local income ($76k/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 $6k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $141k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.29% ✓
• 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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.78×
• Total profit: $-12,222
• Equity at exit: $29,060

10-year hold

• IRR: 10.6%
• Equity multiple: 2.07×
• Total profit: $58,596
• Equity at exit: $16,851

Cash invested: $54,572 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,509 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$211 /mo · $2,530/yr
• Insurance: −$81
• HOA: −$578
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $90

Break-even live

Break-even rent $2,395

Max offer price $194,900

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $578 · $6,936/yr
• Likely covers: internetlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $194,900 Active 223 DOM
2. 2026-06-17
   days on market $194,900 Active 222 DOM
3. 2026-06-16
   days on market $194,900 Active 221 DOM
4. 2026-06-15
   days on market $194,900 Active 220 DOM
5. 2026-06-13
   days on market $194,900 Active 218 DOM
6. 2026-06-13
   days on market $194,900 Active 217 DOM
7. 2026-06-10
   days on market $194,900 Active 215 DOM
8. 2026-06-09
   days on market $194,900 Active 214 DOM
9. 2026-06-08
   days on market $194,900 Active 212 DOM
10. 2026-06-05
    days on market $194,900 Active 209 DOM
11. 2026-06-03
    days on market $194,900 Active 208 DOM
12. 2026-06-02
    days on market $194,900 Active 207 DOM
13. 2026-06-01
    days on market $194,900 Active 206 DOM
14. 2026-05-31
    days on market $194,900 Active 205 DOM
15. 2025-11-07
    listed $194,900 Active 1758-char remark

    Show marketing remark (1758 chars)

    Affordable Coastal Living in a Vibrant 55+ Community – Turnkey & Move-In Ready! Welcome to Foxwood, one of Englewood’s most desirable 55+ communities—just minutes from the beautiful beaches of Manasota Key! This turnkey 2-bedroom, 2-bath villa offers easy, maintenance-free living with peace of mind and plenty of upgrades. You’ll love the open floor plan, enclosed 4 seasoned sun-room, and attached garage. Recent updates include a brand-new A/C unit with a 10-year transferable warranty, new roof, fresh exterior paint, and a hurricane-rated garage door. Best of all—this home sustained no hurricane damage, has no insurance claims, and is not in a flood zone! Foxwood residents enjoy an active and friendly lifestyle with amenities that make every day feel like a vacation: a heated pool and spa, clubhouse with social events year-round, bocce ball, pickleball, tennis, shuffleboard, library, and even a pool table. Take a morning walk along the beautifully maintained grounds or relax by the pool with friends. Internet and TV are included in the monthly condo fee—just one more reason this community is such a great value. Conveniently located near gorgeous Gulf beaches, golf courses, parks, and top-rated dining, you’ll have endless opportunities for recreation—whether it’s fishing, boating, kayaking, or simply soaking in the Florida sunshine. Sports fans will appreciate being close to Atlanta Braves and Tampa Bay Rays spring training facilities. Don’t miss this opportunity to own your slice of paradise in one of Englewood’s most social and well-kept 55+ communities. Start living the Florida lifestyle you’ve dreamed of—schedule your private showing today!

16. 2025-10-15
    historical
17. 2025-04-21
    price $210,000
18. 2024-11-09
    listed $225,000 Active
19. 2024-07-06
    historical
20. 2024-05-13
    price $221,500
21. 2024-03-15
    price $222,000
22. 2024-03-01
    price $225,000
23. 2024-01-31
    price $233,900
24. 2024-01-06
    listed $239,900 Active
25. 2004-09-01
    soldstatus $140,900
26. 2004-03-05
    soldstatus $125,000
27. 2000-08-17
    soldstatus $76,000
28. 1999-11-29
    soldstatus $76,000
29. 1985-02-01
    soldstatus $69,600

ⓘ 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: $2,530 · $211/mo
• Projected year-2 tax: $2,530 · $211/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,107
• − Mortgage interest: −$10,917
• − Property taxes: −$2,530
• − Insurance: −$974
• − Repairs & maintenance: −$2,409
• − Management: −$2,409
• − HOA: −$6,936
• − Depreciation: −$5,670
• Taxable loss: −$1,738
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $1,496/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 — 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 (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 (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 · 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: ▼ -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

+180.0% since first listed

15 events — show timeline

• 2025-11-07 Listed $194,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-21 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-09 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-05-13 Price Changed $221,500 Stellar MLS as Distributed by MLS Grid
• 2024-03-15 Price Changed $222,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-01 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-31 Price Changed $233,900 Stellar MLS as Distributed by MLS Grid
• 2024-01-06 Listed $239,900 Stellar MLS as Distributed by MLS Grid
• 2004-09-01 Sold (Public Records) $140,900 Public Records
• 2004-03-05 Sold (Public Records) $125,000 Public Records
• 2000-08-17 Sold (Public Records) $76,000 Public Records
• 1999-11-29 Sold (Public Records) $76,000 Public Records
• 1985-02-01 Sold (Public Records) $69,600 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,530 · -3.0% YoY. Source: county tax records.