271 Palmetto Dr · South Venice, FL 34293

$160,000

2 bd · 1.5 ba · 1,018 sqft · SingleFamily public records · 29 Days on market

Built 1962

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity to rebuild or start new. Sold in AS IS CONDITION. Home has been heavily damaged by Hurricane Ian. This home is UNINHABITABLE in the current condition. Wind from the storm took off the roof and windows. Home is down to studs with solid foundation with terrazzo and frame work, electric and plumbing exist. Oversized lot in a hot neighborhood of South Venice. No deed restrictions with access to the South Venice boat ramp and ferry just a few blocks away. Home was originally a 2 bedroom 1 1/2 bath layout with screened Florida room, interior laundry and great room floor plan with attached single car carport and extended parking pad. Great opportunity and an awesome neighborhood. No deed restrictions, perfect to keep your boat or RV.

Key facts

• Access to boat ramp
• Access to ferry
• Newly issued permits

Tags

• OVERSIZED LOT
• ACCESS TO BOAT RAMP
• ACCESS TO FERRY
• APPROVED ENGINEERED PLANS
• NEWLY ISSUED PERMITS

Property features AI

Finance

• Other: Living area approximately 1,018; Lot size approximately 0.28 acres

Exterior

• Home design: Built in 1962
• Construction: Single-family property
• Exterior features: Located in the South Venice subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, 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 flat; 1247 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,600 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.59%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $8,790
• Equity at exit: $23,857

10-year hold

• IRR: 12.5%
• Equity multiple: 1.89×
• Total profit: $39,941
• Equity at exit: $13,834

Cash invested: $44,800 (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 34293

• Rents YoY: 0.7%
• Active inventory: 1247
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,077 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$116 /mo · $1,390/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $619

Break-even live

Break-even rent $1,293

Max offer price $160,000

Occupancy floor 65%

Sensitivity live

Price	-10% $710	-5% $664	+0% $619	+5% $574	+10% $529
Rent	-10% $455	-5% $537	+0% $619	+5% $701	+10% $783
Rate	-1.0pp $700	-0.5pp $660	base $619	+0.5pp $578	+1.0pp $536

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-18
   days on market $160,000 Active 29 DOM
2. 2026-06-17
   days on market $160,000 Active 28 DOM
3. 2026-06-15
   days on market $160,000 Active 26 DOM
4. 2026-06-13
   days on market $160,000 Active 24 DOM
5. 2026-06-13
   days on market $160,000 Active 23 DOM
6. 2026-06-10
   days on market $160,000 Active 21 DOM
7. 2026-06-09
   days on market $160,000 Active 20 DOM
8. 2026-06-08
   days on market $160,000 Active 18 DOM
9. 2026-06-05
   days on market $160,000 Active 15 DOM
10. 2026-06-03
    days on market $160,000 Active 14 DOM
11. 2026-06-02
    pricedays on market $160,000 Active 13 DOM
12. 2026-06-01
    days on market $175,000 Active 12 DOM
13. 2026-05-31
    days on market $175,000 Active 11 DOM
14. 2026-05-20
    listed $175,000 Active
15. 2024-01-10
    soldstatus $115,000
16. 2024-01-04
    soldstatus $102,500 Closed 748-char remark

    Show marketing remark (748 chars)

    Opportunity to rebuild or start new. Sold in AS IS CONDITION. Home has been heavily damaged by Hurricane Ian. This home is UNINHABITABLE in the current condition. Wind from the storm took off the roof and windows. Home is down to studs with solid foundation with terrazzo and frame work, electric and plumbing exist. Oversized lot in a hot neighborhood of South Venice. No deed restrictions with access to the South Venice boat ramp and ferry just a few blocks away. Home was originally a 2 bedroom 1 1/2 bath layout with screened Florida room, interior laundry and great room floor plan with attached single car carport and extended parking pad. Great opportunity and an awesome neighborhood. No deed restrictions, perfect to keep your boat or RV.

17. 2023-12-17
    status Pending 748-char remark

    Show marketing remark (748 chars)

    Opportunity to rebuild or start new. Sold in AS IS CONDITION. Home has been heavily damaged by Hurricane Ian. This home is UNINHABITABLE in the current condition. Wind from the storm took off the roof and windows. Home is down to studs with solid foundation with terrazzo and frame work, electric and plumbing exist. Oversized lot in a hot neighborhood of South Venice. No deed restrictions with access to the South Venice boat ramp and ferry just a few blocks away. Home was originally a 2 bedroom 1 1/2 bath layout with screened Florida room, interior laundry and great room floor plan with attached single car carport and extended parking pad. Great opportunity and an awesome neighborhood. No deed restrictions, perfect to keep your boat or RV.

18. 2023-12-12
    listed $199,000 Active 748-char remark

    Show marketing remark (748 chars)

    Opportunity to rebuild or start new. Sold in AS IS CONDITION. Home has been heavily damaged by Hurricane Ian. This home is UNINHABITABLE in the current condition. Wind from the storm took off the roof and windows. Home is down to studs with solid foundation with terrazzo and frame work, electric and plumbing exist. Oversized lot in a hot neighborhood of South Venice. No deed restrictions with access to the South Venice boat ramp and ferry just a few blocks away. Home was originally a 2 bedroom 1 1/2 bath layout with screened Florida room, interior laundry and great room floor plan with attached single car carport and extended parking pad. Great opportunity and an awesome neighborhood. No deed restrictions, perfect to keep your boat or RV.

19. 2023-10-08
    historical
20. 2023-09-27
    status Active
21. 2023-09-23
    status Pending
22. 2023-09-21
    listed $210,000 Active
23. 2021-11-24
    soldstatus $273,000
24. 2021-11-18
    soldstatus $273,000 Closed
25. 2021-10-21
    status Pending
26. 2021-10-16
    listed $263,000 Active
27. 2017-10-16
    soldstatus $163,900 Sold
28. 2017-10-16
    soldstatus $163,900
29. 2017-09-19
    status Pending
30. 2017-08-30
    price $162,900
31. 2017-07-05
    price $169,000
32. 2017-05-16
    listed $185,000 Active
33. 2016-09-13
    historical
34. 2016-07-08
    price $179,000
35. 2016-03-24
    listed $189,900 Active
36. 2005-10-06
    soldstatus $198,500
37. 2005-09-30
    soldstatus $198,500
38. 2005-07-07
    listed $198,500
39. 2005-02-14
    soldstatus $142,000
40. 2003-08-21
    soldstatus $83,500
41. 1994-04-25
    soldstatus $50,000
42. 1989-04-11
    soldstatus $49,000

ⓘ 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: $1,390 · $116/mo
• Projected year-2 tax: $1,390 · $116/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $24,922
• − Mortgage interest: −$8,962
• − Property taxes: −$1,390
• − Insurance: −$800
• − Repairs & maintenance: −$1,994
• − Management: −$1,994
• − Depreciation: −$4,655
• Taxable income: $5,128
• Est. tax owed @ 24.0%: −$1,231
• After-tax cash flow: $6,200/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 — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 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: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• 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

+257.1% since first listed

29 events — show timeline

• 2026-05-20 Listed $175,000 FSBO.com
• 2024-01-10 Sold (Public Records) $115,000 Public Records
• 2024-01-04 Sold (MLS) $102,500 Stellar MLS as Distributed by MLS Grid
• 2023-12-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-12-12 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-09-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-09-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-09-21 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2021-11-24 Sold (Public Records) $273,000 Public Records
• 2021-11-18 Sold (MLS) $273,000 Stellar MLS as Distributed by MLS Grid
• 2021-10-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-10-16 Listed $263,000 Stellar MLS as Distributed by MLS Grid
• 2017-10-16 Sold (Public Records) $163,900 Public Records
• 2017-10-16 Sold (MLS) $163,900 Stellar MLS as Distributed by MLS Grid
• 2017-09-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-08-30 Price Changed $162,900 Stellar MLS as Distributed by MLS Grid
• 2017-07-05 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2017-05-16 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2016-09-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-07-08 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2016-03-24 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2005-10-06 Sold (Public Records) $198,500 Public Records
• 2005-09-30 Sold (MLS) $198,500 Stellar MLS as Distributed by MLS Grid
• 2005-07-07 Listed $198,500 Stellar MLS as Distributed by MLS Grid
• 2005-02-14 Sold (Public Records) $142,000 Public Records
• 2003-08-21 Sold (Public Records) $83,500 Public Records
• 1994-04-25 Sold (Public Records) $50,000 Public Records
• 1989-04-11 Sold (Public Records) $49,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,390 · -12.6% YoY. Source: county tax records.