698 & West Perry W Perry St · Englewood, FL 34223

$325,000

3 bd · 2.0 ba · 2,148 sqft · SingleFamily public records · 437 Days on market

Built 1961 0.90 ac lot $151/sqft · 71% below area ↓ 59% since listing

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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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +5.4/10.0
• Rent growth +4.8/5.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

Key facts

• Investment property
• Prime location
• 0.9 acre lot

Tags

• ADJACENT PARCEL INCLUDED
• NEARLY AN ACRE OF LAND
• CONCRETE BLOCK LOWER LEVEL
• PRIME LOCATION
• MINUTES FROM VIBRANT SHOPS
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $54 ($653/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 $307k (5.6% below list).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.8% in Englewood — 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 73/100 on livability (#321 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, health & safety A; Watch: employment C-, 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 rising fast (+9.0%/yr); 717 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $3,070/mo this rent would consume 48% of the median local household income ($76k/yr) (locally 290% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 437 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 437 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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 A-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?
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 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: 0.94% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.8

CMA / ARV

• ARV (median comp): $1,118,999
• List price: $325,000
• Delta: -70.96%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.64×
• Total profit: $-32,854
• Equity at exit: $48,459

10-year hold

• IRR: 6.0%
• Equity multiple: 1.55×
• Total profit: $50,186
• Equity at exit: $28,100

Cash invested: $91,000 (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 34223

• Home prices YoY: -34.2%
• Rents YoY: 9.0%
• Active inventory: 717
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,070 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $54

Break-even live

Break-even rent $3,001

Max offer price $325,000

Occupancy floor 93%

Sensitivity live

Price	-10% $238	-5% $146	+0% $54	+5% $-38	+10% $-130
Rent	-10% $-188	-5% $-67	+0% $54	+5% $176	+10% $297
Rate	-1.0pp $218	-0.5pp $137	base $54	+0.5pp $-30	+1.0pp $-115

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5039 N Beach Rd Englewood, FL	4.0	3.0	1650	$4,499	$2.73	21d	1	1.40mi

Listing history 12 events

1. 2026-06-08
   statusdays on market $325,000 Pending 437 DOM
2. 2026-06-05
   days on market $325,000 Active 436 DOM
3. 2026-06-03
   days on market $325,000 Active 435 DOM
4. 2026-06-02
   days on market $325,000 Active 434 DOM
5. 2026-06-01
   days on market $325,000 Active 433 DOM
6. 2026-05-31
   days on market $325,000 Active 432 DOM
7. 2026-05-18
   price $325,000 1102-char remark

   Show marketing remark (1102 chars)

   Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

8. 2026-02-11
   price $375,000 1102-char remark

   Show marketing remark (1102 chars)

   Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

9. 2025-09-18
   price $450,000 1102-char remark

   Show marketing remark (1102 chars)

   Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

10. 2025-06-04
    price $500,000 1102-char remark

    Show marketing remark (1102 chars)

    Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

11. 2025-04-12
    price $650,000 1102-char remark

    Show marketing remark (1102 chars)

    Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

12. 2025-03-25
    listed $800,000 Active 1102-char remark

    Show marketing remark (1102 chars)

    Rare Opportunity in the Heart of Old Englewood! Located just moments from Dearborn Street, this 5-bedroom, 2-bathroom hurricane-distressed home offers an exceptional opportunity for restoration or new construction. The concrete block lower level has been gutted, providing a blank canvas for renovation, while the upper level remains intact, featuring 2 bedrooms and 2 bathrooms that did not sustain water intrusion. With a 2-car garage and ample space, the possibilities are endless! This property also comes with an ADDITIONAL ADJOINING PARCEL, creating even more potential for expansion, privacy, or future development, making this a truly unique opportunity. Whether you choose to restore the existing home or build an elevated dream home, you'll enjoy breathtaking views of the canal and Lemon Bay, the perfect setting for sunset watching. The prime location is unmatched—just minutes from vibrant shops, restaurants, and stunning Gulf beaches. Don’t miss your chance to create your ideal private retreat or investment property in one of Englewood’s most desirable neighborhoods!

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $2,698 · $225/mo
• Expected delta: +$1,446/yr (+$121/mo · 115.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% 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: $36,835
• − Mortgage interest: −$18,205
• − Property taxes: −$1,251
• − Insurance: −$6,744
• − Repairs & maintenance: −$2,947
• − Management: −$2,947
• − Depreciation: −$9,455
• Taxable loss: −$4,713
• Est. tax savings @ 24.0%: +$1,131
• After-tax cash flow: $1,784/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 — Englewood

• Score: 73/100
• State rank: #321
• US rank: #5655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Englewood, FL
• County: Sarasota County · 448,376 people
• City population: 35,420
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,884
• Household income: $76,016
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 290.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 4% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 94% English-only · German/W. Germanic 2% Spanish 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: ▼ -146.26%
• Current HPI: 281.0529
• Rent YoY: ▲ 9.02%
• 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

-59.4% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $325,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $375,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Price Changed $450,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-04 Price Changed $500,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-12 Price Changed $650,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-25 Listed $800,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2025): $1,251 · -10.9% YoY. Source: county tax records.