2343 Prospect St · Sarasota, FL 34239

$315,000

3 bd · 2.0 ba · 1,142 sqft · SingleFamily public records · 227 Days on market

Built 1954 6,624 sqft lot

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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 +13.4/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

Key facts

• Washer and dryer
• Bay front
• Quartz counter tops

Tags

• QUARTZ COUNTER TOPS
• MAINTENANCE FREE BACK YARD
• OUTSIDE UTILITY ROOM
• WASHER AND DRYER
• MINUTES FROM DOWNTOWN
• BAY FRONT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $5 ($58/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (11.6% below list).
• Recommended offer: $277k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime 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.
• Zoned schools: Alta Vista Elementary School (math 52% / reading 49%, grade D+, #1,055 of 2,144 statewide, top 50%, 476 students, 87% FRL); Brookside Middle School (math 62% / reading 55%, grade B, #148 of 571 statewide, top 26%, 745 students, 66% FRL); Sarasota High School (math 53% / reading 59%, grade C, #131 of 667 statewide, top 20%, 2,528 students, 43% FRL) — zoned schools average 66% FRL vs 42% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 292 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 41% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $165k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $269k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.88% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.62% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-51,743
• Equity at exit: $46,968

10-year hold

• IRR: -9.1%
• Equity multiple: 0.45×
• Total profit: $-48,763
• Equity at exit: $27,235

Cash invested: $88,200 (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 34239

• Rents YoY: 2.6%
• Active inventory: 292
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,785 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$412 /mo · $4,950/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $5

Break-even live

Break-even rent $2,779

Max offer price $315,000

Occupancy floor 95%

Sensitivity live

Price	-10% $183	-5% $94	+0% $5	+5% $-84	+10% $-173
Rent	-10% $-215	-5% $-105	+0% $5	+5% $115	+10% $225
Rate	-1.0pp $163	-0.5pp $85	base $5	+0.5pp $-77	+1.0pp $-160

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-05-19
   status Pending 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

2. 2026-05-15
   status Active 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

3. 2026-05-15
   price $315,000 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

4. 2026-05-07
   status Pending 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

5. 2026-03-23
   price $399,500 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

6. 2026-01-26
   price $439,000 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

7. 2025-11-05
   price $459,000 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

8. 2025-09-26
   listed $480,000 Active 448-char remark

   Show marketing remark (448 chars)

   Hugh price reduction!! Prime opportunity in the heart of Sarasota. This property is being offered at land value only. Ideal for investors, builders, or buyers looking for a redevelopment project in a highly desirable location. The lot provides excellent potential for a new single family residence with convenient access to downtown Sarasota, beaches, shopping, dining, and major roadways. Value is in the land and future possibilities. Sold AS IS.

9. 2025-07-02
   historical
10. 2025-02-03
    price $499,000
11. 2025-01-02
    listed $509,000 Active
12. 2024-07-25
    historical $2,800
13. 2024-07-08
    price $2,800
14. 2024-05-23
    price $3,000
15. 2024-05-14
    listed $3,500
16. 2024-04-20
    historical
17. 2024-03-02
    price $507,500
18. 2024-01-21
    price $519,000
19. 2023-10-31
    status Active
20. 2023-10-26
    status Pending
21. 2023-10-20
    listed $524,900 Active
22. 2019-06-13
    soldstatus $269,000 Sold
23. 2019-06-13
    soldstatus $269,000
24. 2019-05-04
    status Pending
25. 2019-04-19
    listed $279,000 Active
26. 2018-01-02
    soldstatus $175,000
27. 2017-11-16
    soldstatus $175,000 Sold
28. 2017-11-16
    listed $175,000 Active
29. 1973-02-01
    soldstatus $15,000

ⓘ 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: $4,950 · $412/mo
• Projected year-2 tax: $4,950 · $412/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 ≥107°F today · 28 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: $33,425
• − Mortgage interest: −$17,645
• − Property taxes: −$4,950
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,674
• − Management: −$2,674
• − Depreciation: −$9,164
• Taxable loss: −$5,257
• Est. tax savings @ 24.0%: +$1,262
• After-tax cash flow: $1,320/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 — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sarasota, FL
• County: Sarasota County · 448,376 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 14,635
• Household income: $80,923
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 444.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 12% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 11% German/W. Germanic 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: ▼ -623.50%
• Current HPI: 377.4184
• Rent YoY: ▲ 2.62%
• 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

+2000.0% since first listed

29 events — show timeline

• 2026-05-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Price Changed $315,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $399,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $439,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $459,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-26 Listed $480,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-02-03 Price Changed $499,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-02 Listed $509,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-25 Rental Removed $2,800 STELLARMLS
• 2024-07-08 Price Changed $2,800 STELLARMLS
• 2024-05-23 Price Changed $3,000 STELLARMLS
• 2024-05-14 Listed for Rent $3,500 STELLARMLS
• 2024-04-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-02 Price Changed $507,500 Stellar MLS as Distributed by MLS Grid
• 2024-01-21 Price Changed $519,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-31 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-10-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-10-20 Listed $524,900 Stellar MLS as Distributed by MLS Grid
• 2019-06-13 Sold (Public Records) $269,000 Public Records
• 2019-06-13 Sold (MLS) $269,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-04-19 Listed $279,000 Stellar MLS as Distributed by MLS Grid
• 2018-01-02 Sold (Public Records) $175,000 Public Records
• 2017-11-16 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2017-11-16 Sold (MLS) $175,000 Stellar MLS as Distributed by MLS Grid
• 1973-02-01 Sold (Public Records) $15,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $4,950 · +10.2% YoY. Source: county tax records.