1111 W Faith Cir #1003 · Lakewood Ranch, FL 34212

$165,000

2 bd · 2.0 ba · 1,408 sqft · Condo public records · 123 Days on market

Built 1980 $500/mo HOA · 22% 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 +18.9/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.4/10.0
• Appreciation +4.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0

Listing remarks MLS

Wow! Turnkey ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, a wonderful Florida room and private patio retreat. This unit comes with an Alarm system and Hurricane shutters. This community has the best of both country and city living on the banks of the Manatee River.

Key facts

• Large windows
• Dual gardens
• First floor

Tags

• FIRST FLOOR
• LARGE WINDOWS
• LANAI
• REAR PATIO
• DESIGNED TURF AREA
• DUAL GARDENS

Property features AI

Finance

• Other: Irrigation equipment present
• Financial info: Total annual association fees $6,000; Lease restrictions apply
• HOA & community: Monthly HOA fee of $500; Association covers cable TV, pool, insurance, internet, structure and grounds maintenance, management, recreational facilities, sewer, trash and water; Association requires buyer approval; Association amenities include pool, playground, park, tennis and pickleball courts, recreation facilities and vehicle restrictions; Community features include deed restrictions, community mailbox, sidewalks, irrigation with reclaimed water, and association recreation (lease); Senior community; Pets allowed (cats and dogs)

Exterior

• Parking: Covered guest parking; Carport (1 space)
• Security: Community security; Security lights; Smoke detectors
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected; Sprinkler system (recycled and well)
• Home design: Condominium; Two-story building; End unit on first floor (unit #1003); Faces west; Completed condition
• Construction: Block and stucco construction; Concrete and tile roof; Slab foundation; Building identified as 1111
• Exterior features: Covered patio and rear porch; Covered entry; Hurricane shutters; Exterior lighting; Sidewalks; Sliding doors; Storage; Tennis courts on property; Masonry fencing; Mature landscaping with oak trees

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Water filtration system; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Open floor plan; Blinds, shades and shutters; Security lights and smoke detectors
• Laundry & utility: Inside laundry in a laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.3% in Lakewood Ranch — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Gene Witt Elementary School (math 84% / reading 82%, grade A+, #65 of 2,144 statewide, top 3%, 689 students, 24% FRL); Parrish Community High School (math 47% / reading 57%, grade D+, #160 of 667 statewide, top 25%, 2,017 students, 32% FRL) — zoned schools average 28% FRL vs 51% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Manatee average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents falling (-3.4%/yr); 479 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $135k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• 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 $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.82% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-14,069
• Equity at exit: $33,433

10-year hold

• IRR: -4.8%
• Equity multiple: 0.67×
• Total profit: $-15,416
• Equity at exit: $29,906

Cash invested: $46,200 (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 34212

• Home prices YoY: -0.7%
• Rents YoY: -3.4%
• Active inventory: 479
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,276 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$196 /mo · $2,356/yr
• Insurance: −$69
• HOA: −$500
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $168

Break-even live

Break-even rent $2,064

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $261	-5% $215	+0% $168	+5% $121	+10% $75
Rent	-10% $-12	-5% $78	+0% $168	+5% $258	+10% $348
Rate	-1.0pp $251	-0.5pp $210	base $168	+0.5pp $125	+1.0pp $82

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
923 Hagle Park Rd Unit 925 Bradenton, FL	3.0	2.0	1100	$2,175	$1.98	20d	1	1.14mi
327 Tierra Verde Way Bradenton, FL	3.0	2.0	1690	$2,340	$1.38	16d	1	1.39mi
405 Gris Sky Ln Bradenton, FL	3.0	2.0	1650	$2,399	$1.45	15d	1	1.42mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $165,000 Active 123 DOM
2. 2026-06-17
   days on market $165,000 Active 122 DOM
3. 2026-06-16
   days on market $165,000 Active 121 DOM
4. 2026-06-15
   days on market $165,000 Active 120 DOM
5. 2026-06-13
   days on market $165,000 Active 118 DOM
6. 2026-06-13
   days on market $165,000 Active 117 DOM
7. 2026-06-10
   days on market $165,000 Active 115 DOM
8. 2026-06-09
   days on market $165,000 Active 114 DOM
9. 2026-06-08
   days on market $165,000 Active 113 DOM
10. 2026-06-08
    days on market $165,000 Active 112 DOM
11. 2026-06-03
    days on market $165,000 Active 108 DOM
12. 2026-06-02
    days on market $165,000 Active 107 DOM
13. 2026-06-01
    days on market $165,000 Active 106 DOM
14. 2026-05-31
    days on market $165,000 Active 105 DOM
15. 2026-04-16
    price $165,000
16. 2026-02-26
    status Active
17. 2026-02-17
    status Pending
18. 2026-02-06
    listed $170,000 Active
19. 2020-03-27
    soldstatus $135,000 Sold 324-char remark

    Show marketing remark (324 chars)

    Wow! Turnkey ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, a wonderful Florida room and private patio retreat. This unit comes with an Alarm system and Hurricane shutters. This community has the best of both country and city living on the banks of the Manatee River.

20. 2020-03-26
    soldstatus $135,000
21. 2020-02-23
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Wow! Turnkey ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, a wonderful Florida room and private patio retreat. This unit comes with an Alarm system and Hurricane shutters. This community has the best of both country and city living on the banks of the Manatee River.

22. 2020-01-22
    listed $140,000 Active 324-char remark

    Show marketing remark (324 chars)

    Wow! Turnkey ground floor corner condo home in desirable 34212 zip. This spacious unit has ceramic tile throughout, a wonderful Florida room and private patio retreat. This unit comes with an Alarm system and Hurricane shutters. This community has the best of both country and city living on the banks of the Manatee River.

23. 2016-10-27
    historical
24. 2016-04-22
    price $150,000
25. 2016-02-20
    listed $135,000 Active

ⓘ 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: $2,356 · $196/mo
• Projected year-2 tax: $2,356 · $196/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,318
• − Mortgage interest: −$9,243
• − Property taxes: −$2,356
• − Insurance: −$825
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$6,000
• − Depreciation: −$4,800
• Taxable loss: −$277
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $2,083/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 — Lakewood Ranch

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Manatee County · 416,364 people
• City population: 52,177
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 25,536
• Household income: $125,486
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 383.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Vietnamese 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: ▼ -1.82%
• Current HPI: 276.7636
• Rent YoY: ▼ -3.44%
• 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

+22.2% since first listed

11 events — show timeline

• 2026-04-16 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-06 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2020-03-27 Sold (MLS) $135,000 Stellar MLS as Distributed by MLS Grid
• 2020-03-26 Sold (Public Records) $135,000 Public Records
• 2020-02-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-01-22 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2016-10-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-04-22 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2016-02-20 Listed $135,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+14.0%/yr

Latest (2025): $2,356 · -0.8% YoY. Source: county tax records.