619 Cedars Ct · Longboat Key, FL 34228

$430,000

1 bd · 2.0 ba · 1,244 sqft · Condo public records · 504 Days on market

Built 1988 $848/mo HOA · 17% 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 +17.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +5.5/10.0
• Appreciation +5.4/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rarely available one bedroom, two full bathrooms, in Cedars Tennis Resort. Just steps away from the tennis courts and Jr. Olympic Heated Pool. Offered turnkey furnished and almost as spacious as the two bedroom floor plan. This townhome has been recently painted including the walls, ceiling and trim. Updated with new tile in the kitchen, new washer/dryer, all new vertical blinds and 2 new a/c units. Enjoy your morning coffee on the screened lanai right outside the living room, secluded from the mangroves. The one bedroom townhome is the only floor plan that has a private, open deck which has also been recently redone. There you can also enjoy a private getaway, where in the evening you can hear the sounds of the ocean. Master bathroom has oversized shower and dual vanities. One car garage is also oversized and has plenty of extra storage space. Great possible rental income if you should decide to rent out as a seasonal rental. Cedars Tennis & Fitness Club offers 10 Har-Tru Tennis Courts, Jr. Olympic Heated Pool, Pro Shop, Clubhouse, Onsite Restaurant & Tiki Bar, Fishing Pier and nature preserve walking trails.

Key facts

• $848 HOA
• Garage
• Pool

Property features AI

Finance

• Other: Furnished; Deed restrictions
• Financial info: Total monthly fees: $848.67; Total annual fees: $10,184; Lease restrictions apply
• HOA & community: Condo association (monthly fee: $849; quarterly condo fees: $2,546); Association approval required; Association amenities include pool, pickleball and tennis courts, recreation facilities; Association fee includes pool, insurance, management and trash; Community amenities include fitness center, park, sidewalks, street lights and community mailbox; Pets allowed with size limit (max ~30 lbs)

Exterior

• Parking: Attached garage (1-car) with garage door opener; Ground-level and basement access
• Security: Fire alarm
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Residential townhouse; Two levels; East-facing
• Construction: Frame construction; Shingle roof; Slab foundation; Built by Hunt Construction Incorporated
• Exterior features: Balcony; Outdoor shower; Tennis court(s); Heated lap pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (heat pump); Central air
• Interior features: Ceiling fans; High ceilings; Open floor plan; Walk-in closet(s); Blinds
• Laundry & utility: Washer; Dryer; Inside utility; Laundry closet

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $430k.

Deal economics

• At list price, monthly cash flow is $-80 ($-959/yr) — negative.
• To cash-flow at today's rent, offer at most $416k (3.3% below list).
• Meets the 1% rule at list price ($5k rent vs $430k).
• Recommended offer: $378k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 0.5% in Longboat Key — 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 64/100 on livability (#693 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute 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: Anna Maria Elementary School (math 77% / reading 77%, grade A, #170 of 2,144 statewide, top 9%, 190 students, 36% FRL); Bayshore High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 1,435 students, 65% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 539 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($3k loan paydown + $3k appreciation (0.7% local appreciation)).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 504 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $175k; list at $430k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $378,400 (12.0% 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. It's been on market 504 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.14% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.45%
• DSCR: 1.15
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-2,060
• Equity at exit: $140,736

10-year hold

• IRR: 4.8%
• Equity multiple: 1.57×
• Total profit: $68,242
• Equity at exit: $182,427

Cash invested: $120,400 (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 34228

• Home prices YoY: 0.3%
• Active inventory: 539
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,913 high
• Mortgage (P&I): −$2,255
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$179
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$848
• Vacancy / Maint / Mgmt: −$1,032
• Net cashflow: $-80

Break-even live

Break-even rent $5,014

Max offer price $415,887

Occupancy floor 97%

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
655 Cedars Ct #655 Longboat Key, FL	1.0	2.0	1244	$7,000	$5.63	23d	1	0.04mi
676 El Centro Longboat Key, FL	2.0	2.0	1427	$3,250	$2.28	23d	1	0.12mi
730 Spanish Dr S #99 Longboat Key, FL	2.0	2.0	1255	$2,800	$2.23	2d	1	0.12mi
535 Forest Way Longboat Key, FL	2.0	2.5	1440	$6,900	$4.79	23d	1	0.12mi
820 Spanish Dr S Longboat Key, FL	2.0	2.0	1390	$3,000	$2.16	16d	1	0.19mi
573 Spanish Dr N Longboat Key, FL	2.0	2.0	1380	$3,500	$2.54	16d	1	0.19mi
5621 Gulf of Mexico Dr #102 Longboat Key, FL	2.0	2.0	1346	$6,000	$4.46	23d	1	0.23mi
914 Spanish Dr S #76 Longboat Key, FL	2.0	2.0	1341	$6,500	$4.85	23d	1	0.29mi
957 Spanish Dr N Longboat Key, FL	2.0	2.0	1399	$5,500	$3.93	23d	1	0.34mi
615 Dream Island Rd #107 Longboat Key, FL	2.0	2.0	1293	$12,500	$9.67	23d	1	0.64mi
4825 Gulf of Mexico Dr #201 Longboat Key, FL	2.0	2.0	1393	$7,800	$5.60	23d	1	1.20mi

HOA detail condo

• Monthly dues: $848 · $10,176/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-03-04
   price $430,000
2. 2025-01-14
   status Active
3. 2024-11-21
   status Pending
4. 2024-11-15
   listed $450,000 Active
5. 2024-04-30
   historical
6. 2024-01-08
   price $550,000
7. 2023-10-11
   listed $650,000 Active
8. 2013-03-25
   soldstatus $175,000 1139-char remark

   Show marketing remark (1139 chars)

   Rarely available one bedroom, two full bathrooms, in Cedars Tennis Resort. Just steps away from the tennis courts and Jr. Olympic Heated Pool. Offered turnkey furnished and almost as spacious as the two bedroom floor plan. This townhome has been recently painted including the walls, ceiling and trim. Updated with new tile in the kitchen, new washer/dryer, all new vertical blinds and 2 new a/c units. Enjoy your morning coffee on the screened lanai right outside the living room, secluded from the mangroves. The one bedroom townhome is the only floor plan that has a private, open deck which has also been recently redone. There you can also enjoy a private getaway, where in the evening you can hear the sounds of the ocean. Master bathroom has oversized shower and dual vanities. One car garage is also oversized and has plenty of extra storage space. Great possible rental income if you should decide to rent out as a seasonal rental. Cedars Tennis & Fitness Club offers 10 Har-Tru Tennis Courts, Jr. Olympic Heated Pool, Pro Shop, Clubhouse, Onsite Restaurant & Tiki Bar, Fishing Pier and nature preserve walking trails.

9. 2013-03-25
   soldstatus $175,000

   Show marketing remark (1139 chars)

   Rarely available one bedroom, two full bathrooms, in Cedars Tennis Resort. Just steps away from the tennis courts and Jr. Olympic Heated Pool. Offered turnkey furnished and almost as spacious as the two bedroom floor plan. This townhome has been recently painted including the walls, ceiling and trim. Updated with new tile in the kitchen, new washer/dryer, all new vertical blinds and 2 new a/c units. Enjoy your morning coffee on the screened lanai right outside the living room, secluded from the mangroves. The one bedroom townhome is the only floor plan that has a private, open deck which has also been recently redone. There you can also enjoy a private getaway, where in the evening you can hear the sounds of the ocean. Master bathroom has oversized shower and dual vanities. One car garage is also oversized and has plenty of extra storage space. Great possible rental income if you should decide to rent out as a seasonal rental. Cedars Tennis & Fitness Club offers 10 Har-Tru Tennis Courts, Jr. Olympic Heated Pool, Pro Shop, Clubhouse, Onsite Restaurant & Tiki Bar, Fishing Pier and nature preserve walking trails.

10. 2012-04-18
    listed $194,900 1139-char remark

    Show marketing remark (1139 chars)

    Rarely available one bedroom, two full bathrooms, in Cedars Tennis Resort. Just steps away from the tennis courts and Jr. Olympic Heated Pool. Offered turnkey furnished and almost as spacious as the two bedroom floor plan. This townhome has been recently painted including the walls, ceiling and trim. Updated with new tile in the kitchen, new washer/dryer, all new vertical blinds and 2 new a/c units. Enjoy your morning coffee on the screened lanai right outside the living room, secluded from the mangroves. The one bedroom townhome is the only floor plan that has a private, open deck which has also been recently redone. There you can also enjoy a private getaway, where in the evening you can hear the sounds of the ocean. Master bathroom has oversized shower and dual vanities. One car garage is also oversized and has plenty of extra storage space. Great possible rental income if you should decide to rent out as a seasonal rental. Cedars Tennis & Fitness Club offers 10 Har-Tru Tennis Courts, Jr. Olympic Heated Pool, Pro Shop, Clubhouse, Onsite Restaurant & Tiki Bar, Fishing Pier and nature preserve walking trails.

11. 2011-01-17
    listed $210,000
12. 2009-11-29
    listed $249,000
13. 2004-11-23
    soldstatus $254,000
14. 2001-05-14
    soldstatus $162,500
15. 1993-01-07
    soldstatus $199,900
16. 1989-12-01
    soldstatus $1,700,000

ⓘ 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: $3,032 · $253/mo
• Projected year-2 tax: $3,569 · $297/mo
• Expected delta: +$537/yr (+$45/mo · 17.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $58,959
• − Mortgage interest: −$24,087
• − Property taxes: −$3,032
• − Insurance: −$7,268
• − Repairs & maintenance: −$4,717
• − Management: −$4,717
• − HOA: −$10,176
• − Depreciation: −$12,509
• Taxable loss: −$7,547
• Est. tax savings @ 24.0%: +$1,811
• After-tax cash flow: $853/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 — Longboat Key

• Score: 64/100
• State rank: #693
• US rank: #14452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longboat Key, FL
• County: Sarasota County · 448,376 people
• City population: 7,539
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 7,539
• Household income: $158,030
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 98.0

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: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Scotch-Irish 7% Romanian 6% Lithuanian 4%
• Foreign-born: 14% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 2%

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: ▲ 0.73%
• Current HPI: 234.5017
• Rent YoY: —
• 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

-74.7% since first listed

16 events — show timeline

• 2026-03-04 Price Changed $430,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-11-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-11-15 Listed $450,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-01-08 Price Changed $550,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-11 Listed $650,000 Stellar MLS as Distributed by MLS Grid
• 2013-03-25 Sold (Public Records) $175,000 Public Records
• 2013-03-25 Sold (MLS) $175,000 Stellar MLS as Distributed by MLS Grid
• 2012-04-18 Listed $194,900 Stellar MLS as Distributed by MLS Grid
• 2011-01-17 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2009-11-29 Listed $249,000 Stellar MLS as Distributed by MLS Grid
• 2004-11-23 Sold (Public Records) $254,000 Public Records
• 2001-05-14 Sold (Public Records) $162,500 Public Records
• 1993-01-07 Sold (Public Records) $199,900 Public Records
• 1989-12-01 Sold (Public Records) $1,700,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,032 · -49.5% YoY. Source: county tax records.