3500 Beneva Rd #307 · Southgate, FL 34232

$168,999

2 bd · 2.0 ba · 977 sqft · Condo public records · 174 Days on market

Built 1972 $500/mo HOA · 25% of rent

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully updated 2-bedroom, 2-bath condominium offers the perfect blend of modern finishes and an unbeatable Sarasota location. The open-concept layout creates a seamless flow between living, dining, and kitchen spaces, enhanced by new flooring and abundant natural light. The kitchen has been tastefully renovated with quartz countertops, new cabinetry, and new appliances, while both bathrooms have been thoughtfully remodeled with contemporary finishes. Every detail has been designed for comfort, style, and easy living. Ideally situated near Siesta Key Beach—renowned for its pristine sands—this residence is also conveniently close to shopping, dining, and entertainment, with downtown Sarasota just a short drive away. Whether used as a full-time home, seasonal home, or investment opportunity, this condominium delivers exceptional versatility and value in one of Sarasota’s most desirable areas.

Key facts

• Renovated kitchen
• Updated condominium
• Open-concept layout

Tags

• UPDATED CONDOMINIUM
• OPEN-CONCEPT LAYOUT
• RENOVATED KITCHEN
• REMODELED BATHROOMS
• NEAR SIESTA KEY BEACH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-54 ($-649/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (5.7% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#397 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing 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.
• Zoned schools: Wilkinson Elementary School (math 43% / reading 43%, grade F, #1,366 of 2,144 statewide, top 64%, 460 students, 77% 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 62% FRL vs 42% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-3.5%/yr); 267 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

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 174 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $25k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $148,719 (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 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 1.17% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.2%
• Equity multiple: 0.23×
• Total profit: $-36,337
• Equity at exit: $25,198

10-year hold

• IRR: -36.2%
• Equity multiple: -0.21×
• Total profit: $-57,301
• Equity at exit: $14,612

Cash invested: $47,320 (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 34232

• Rents YoY: -3.5%
• Active inventory: 267
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,985 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$165 /mo · $1,985/yr
• Insurance: −$70
• HOA: −$500
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-54

Break-even live

Break-even rent $2,053

Max offer price $159,445

Occupancy floor 98%

Sensitivity live

Price	-10% $42	-5% $-6	+0% $-54	+5% $-102	+10% $-150
Rent	-10% $-211	-5% $-132	+0% $-54	+5% $24	+10% $103
Rate	-1.0pp $31	-0.5pp $-11	base $-54	+0.5pp $-98	+1.0pp $-142

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 27 events

1. 2026-06-21
   days on market $168,999 Active 174 DOM
2. 2026-06-18
   days on market $168,999 Active 171 DOM
3. 2026-06-17
   days on market $168,999 Active 170 DOM
4. 2026-06-16
   days on market $168,999 Active 169 DOM
5. 2026-06-15
   days on market $168,999 Active 168 DOM
6. 2026-06-13
   days on market $168,999 Active 166 DOM
7. 2026-06-13
   days on market $168,999 Active 165 DOM
8. 2026-06-10
   days on market $168,999 Active 163 DOM
9. 2026-06-09
   days on market $168,999 Active 162 DOM
10. 2026-06-08
    days on market $168,999 Active 161 DOM
11. 2026-06-08
    days on market $168,999 Active 160 DOM
12. 2026-06-05
    days on market $168,999 Active 157 DOM
13. 2026-06-03
    days on market $168,999 Active 156 DOM
14. 2026-06-02
    days on market $168,999 Active 155 DOM
15. 2026-06-01
    days on market $168,999 Active 154 DOM
16. 2026-05-31
    days on market $168,999 Active 153 DOM
17. 2026-04-12
    price $168,999 930-char remark

    Show marketing remark (930 chars)

    This beautifully updated 2-bedroom, 2-bath condominium offers the perfect blend of modern finishes and an unbeatable Sarasota location. The open-concept layout creates a seamless flow between living, dining, and kitchen spaces, enhanced by new flooring and abundant natural light. The kitchen has been tastefully renovated with quartz countertops, new cabinetry, and new appliances, while both bathrooms have been thoughtfully remodeled with contemporary finishes. Every detail has been designed for comfort, style, and easy living. Ideally situated near Siesta Key Beach—renowned for its pristine sands—this residence is also conveniently close to shopping, dining, and entertainment, with downtown Sarasota just a short drive away. Whether used as a full-time home, seasonal home, or investment opportunity, this condominium delivers exceptional versatility and value in one of Sarasota’s most desirable areas.

18. 2026-02-03
    price $180,000 930-char remark

    Show marketing remark (930 chars)

    This beautifully updated 2-bedroom, 2-bath condominium offers the perfect blend of modern finishes and an unbeatable Sarasota location. The open-concept layout creates a seamless flow between living, dining, and kitchen spaces, enhanced by new flooring and abundant natural light. The kitchen has been tastefully renovated with quartz countertops, new cabinetry, and new appliances, while both bathrooms have been thoughtfully remodeled with contemporary finishes. Every detail has been designed for comfort, style, and easy living. Ideally situated near Siesta Key Beach—renowned for its pristine sands—this residence is also conveniently close to shopping, dining, and entertainment, with downtown Sarasota just a short drive away. Whether used as a full-time home, seasonal home, or investment opportunity, this condominium delivers exceptional versatility and value in one of Sarasota’s most desirable areas.

19. 2025-12-28
    listed $193,849 Active 930-char remark

    Show marketing remark (930 chars)

    This beautifully updated 2-bedroom, 2-bath condominium offers the perfect blend of modern finishes and an unbeatable Sarasota location. The open-concept layout creates a seamless flow between living, dining, and kitchen spaces, enhanced by new flooring and abundant natural light. The kitchen has been tastefully renovated with quartz countertops, new cabinetry, and new appliances, while both bathrooms have been thoughtfully remodeled with contemporary finishes. Every detail has been designed for comfort, style, and easy living. Ideally situated near Siesta Key Beach—renowned for its pristine sands—this residence is also conveniently close to shopping, dining, and entertainment, with downtown Sarasota just a short drive away. Whether used as a full-time home, seasonal home, or investment opportunity, this condominium delivers exceptional versatility and value in one of Sarasota’s most desirable areas.

20. 2023-06-30
    soldstatus $147,000
21. 2015-01-08
    historical 290-char remark

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

22. 2015-01-07
    soldstatus $65,000 Sold 290-char remark

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

23. 2015-01-07
    soldstatus $65,000

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

24. 2014-11-21
    status Pending 290-char remark

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

25. 2014-10-02
    price $75,000 290-char remark

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

26. 2014-07-23
    listed $79,900 Active 290-char remark

    Show marketing remark (290 chars)

    this is a cute unit. want a summer retreat look no further. lots of bright light. just a few minutes to the world famous Siesta key. Only 270.00 per month for maintenance fee. Pool on property. Walking distance to play golf. Once home to a cool lady that danced and loved George strait.

27. 1983-12-01
    soldstatus $48,500

ⓘ 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: $1,985 · $165/mo
• Projected year-2 tax: $1,985 · $165/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: $23,817
• − Mortgage interest: −$9,467
• − Property taxes: −$1,985
• − Insurance: −$845
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − HOA: −$6,000
• − Depreciation: −$4,916
• Taxable loss: −$3,206
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $120/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 — Southgate

• Score: 71/100
• State rank: #397
• US rank: #7021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southgate, FL
• County: Sarasota County · 448,376 people
• City population: 14,795
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 34,013
• Household income: $80,795
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1676.0

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 8% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 10% German/W. Germanic 2% 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: ▼ -426.24%
• Current HPI: 337.9799
• Rent YoY: ▼ -3.45%
• 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

+248.5% since first listed

11 events — show timeline

• 2026-04-12 Price Changed $168,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-28 Listed $193,849 Stellar MLS as Distributed by MLS Grid
• 2023-06-30 Sold (Public Records) $147,000 Public Records
• 2015-01-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-01-07 Sold (Public Records) $65,000 Public Records
• 2015-01-07 Sold (MLS) $65,000 Stellar MLS as Distributed by MLS Grid
• 2014-11-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-10-02 Price Changed $75,000 Stellar MLS as Distributed by MLS Grid
• 2014-07-23 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 1983-12-01 Sold (Public Records) $48,500 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,985 · +2.1% YoY. Source: county tax records.