397 Circlewood Dr Unit Z1 · South Venice, FL 34293

$179,000

2 bd · 2.0 ba · 1,298 sqft · Condo public records · 61 Days on market

Built 1981 $420/mo HOA · 18% 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 +24.0/30.0
• 1% rule +7.9/10.0
• DSCR +7.7/10.0
• 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

Two bedroom two bath Detached Villa with many upgrades new Roof 2010, repiped 2005, New AC 2010, Kitchen updated 2007, bathrooms updated 2008, new flooring 2006 & 2010, new windows 2006 with storm shutters, carport is screened in, many storage cabinets. partially Furnished, but no personal items, wall hangings or paintings are included in sale. Ceramic tile under laminate in living room dining area and entry. This is a lovingly maintained home and is well worth a look. The community has 2 heated and cooled pools, jacuzzi, sauna, clubhouse, library, fitness room, game room. Come join in the many activities, bingo, shuffleboard, boccie, horseshoes, annual variety show, golf, bowling, travel. Pleasant, friendly community. Located close to all major highwaysand shopping, only a five minutes ride to Manasota Beach. This is not a drive by. New owner must own for two years prior to leasing out property. Show & Sell.

Key facts

• New a/c
• Updated kitchen
• Two heated pools

Tags

• NEW A/C
• UPDATED KITCHEN
• REMOVAL OF POPCORN CEILINGS
• INTERIOR LAUNDRY ROOM
• MAINTENANCE FREE COMMUNITY
• TWO HEATED POOLS

Property features AI

Finance

• Other: Association approval required to purchase
• Financial info: Lease restrictions apply
• HOA & community: Monthly condo fee of $420 (association fees $5,040 annually); Association recreation owned; Clubhouse; Fitness center; Deed restrictions; Buyer approval required; No truck/RV/motorcycle parking; Cats and dogs allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Public utilities
• Home design: Residential villa; One story; Faces southeast; Homestead eligible
• Construction: Stucco construction; Tile roof; Built on slab foundation; Originally recorded building area about 1298 square feet
• Exterior features: Other exterior features; Private maintained asphalt road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Walk-in closet(s)
• Laundry & utility: Inside laundry; Washer; Dryer; Slab foundation (utility access)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% 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: amenities F, commute F, health & safety 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: Taylor Ranch Elementary School (math 68% / reading 66%, grade B+, #450 of 2,144 statewide, top 22%, 901 students, 39% FRL); Venice Senior High School (math 67% / reading 61%, grade B-, #86 of 667 statewide, top 13%, 2,584 students, 31% FRL).
• 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).
• This rent runs 31% of the median local income ($90k/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 $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.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $179k implies a 91% gain — meaningful room to come down on a strong offer.

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 $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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 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. 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: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• 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: -6.5%
• Equity multiple: 0.77×
• Total profit: $-11,732
• Equity at exit: $26,689

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,251
• Equity at exit: $15,477

Cash invested: $50,120 (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: $2,316 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$46 /mo · $553/yr
• Insurance: −$75
• HOA: −$420
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $351

Break-even live

Break-even rent $1,873

Max offer price $179,000

Occupancy floor 80%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $420 · $5,040/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-14
   status Pending
2. 2026-04-10
   price $179,000
3. 2026-03-14
   listed $197,000 Active
4. 2022-12-01
   historical
5. 2022-11-07
   price $229,900
6. 2022-07-16
   price $274,900
7. 2022-06-15
   price $289,900
8. 2022-05-11
   listed $299,900 Active
9. 2011-10-12
   soldstatus $93,600
10. 2011-10-05
    soldstatus $93,600 934-char remark

    Show marketing remark (934 chars)

    Two bedroom two bath Detached Villa with many upgrades new Roof 2010, repiped 2005, New AC 2010, Kitchen updated 2007, bathrooms updated 2008, new flooring 2006 & 2010, new windows 2006 with storm shutters, carport is screened in, many storage cabinets. partially Furnished, but no personal items, wall hangings or paintings are included in sale. Ceramic tile under laminate in living room dining area and entry. This is a lovingly maintained home and is well worth a look. The community has 2 heated and cooled pools, jacuzzi, sauna, clubhouse, library, fitness room, game room. Come join in the many activities, bingo, shuffleboard, boccie, horseshoes, annual variety show, golf, bowling, travel. Pleasant, friendly community. Located close to all major highwaysand shopping, only a five minutes ride to Manasota Beach. This is not a drive by. New owner must own for two years prior to leasing out property. Show & Sell.

11. 2011-04-04
    listed $99,000 934-char remark

    Show marketing remark (934 chars)

    Two bedroom two bath Detached Villa with many upgrades new Roof 2010, repiped 2005, New AC 2010, Kitchen updated 2007, bathrooms updated 2008, new flooring 2006 & 2010, new windows 2006 with storm shutters, carport is screened in, many storage cabinets. partially Furnished, but no personal items, wall hangings or paintings are included in sale. Ceramic tile under laminate in living room dining area and entry. This is a lovingly maintained home and is well worth a look. The community has 2 heated and cooled pools, jacuzzi, sauna, clubhouse, library, fitness room, game room. Come join in the many activities, bingo, shuffleboard, boccie, horseshoes, annual variety show, golf, bowling, travel. Pleasant, friendly community. Located close to all major highwaysand shopping, only a five minutes ride to Manasota Beach. This is not a drive by. New owner must own for two years prior to leasing out property. Show & Sell.

12. 2001-08-10
    soldstatus $85,000
13. 1995-12-04
    soldstatus $67,900
14. 1980-12-01
    soldstatus $51,400

ⓘ 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: $553 · $46/mo
• Projected year-2 tax: $1,486 · $124/mo
• Expected delta: +$932/yr (+$78/mo · 168.4%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $27,798
• − Mortgage interest: −$10,027
• − Property taxes: −$553
• − Insurance: −$895
• − Repairs & maintenance: −$2,224
• − Management: −$2,224
• − HOA: −$5,040
• − Depreciation: −$5,207
• Taxable income: $1,627
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $3,817/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

• 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

+248.2% since first listed

14 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Listed $197,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-11-07 Price Changed $229,900 Stellar MLS as Distributed by MLS Grid
• 2022-07-16 Price Changed $274,900 Stellar MLS as Distributed by MLS Grid
• 2022-06-15 Price Changed $289,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-11 Listed $299,900 Stellar MLS as Distributed by MLS Grid
• 2011-10-12 Sold (Public Records) $93,600 Public Records
• 2011-10-05 Sold (MLS) $93,600 Stellar MLS as Distributed by MLS Grid
• 2011-04-04 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2001-08-10 Sold (Public Records) $85,000 Public Records
• 1995-12-04 Sold (Public Records) $67,900 Public Records
• 1980-12-01 Sold (Public Records) $51,400 Public Records

Property tax history

-6.4%/yr

Latest (2025): $553 · -48.1% YoY. Source: county tax records.