537 Manatee Ct #204 · Venice, FL 34285

$139,900

1 bd · 1.0 ba · 553 sqft · Condo public records · 14 Days on market

Built 1971 $535/mo HOA · 33% 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 +9.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.4/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Venice Island Condo for 139,900, WOW Lets talk location. .. .. 4 minute walk to the beach, 4 minute walk to downtown shopping, dining and entertainment This slice of paradise is on the Island of Venice. X flood zone, by the way. . Newer A/C 2022, Hot Water Heater 2023 and Roof 2025. Turnkey and ready for living the Florida lifestyle. Parkview Manor is very well maintained and boasts New lighted walkways in the courtyard, a chair lift to the second floor. assigned parking spaces and wonderful neighbors. .. and is across the street from wonderful Prentis Park. This is a fabulous investment for your future. This is priced to SELL. Don't wait on this one

Key facts

• New lighted walkways
• Roof 2025
• Newer a/c 2022

Tags

• 4 MINUTE WALK TO THE BEACH
• NEWER A/C 2022
• HOT WATER HEATER 2023
• ROOF 2025
• NEW LIGHTED WALKWAYS
• ASSIGNED PARKING SPACES

Property features AI

Finance

• Financial info: Total annual HOA fees: $6,420; Lease restrictions apply
• HOA & community: Monthly HOA fee of $535; HOA covers cable TV, insurance, building maintenance, grounds maintenance, pest control, sewer, trash and water; Association approval required; Buyer approval required; Senior community; Pets not allowed; Association name: Carolyn Rogers; Condo land included

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Condominium; Residential property; Second-floor unit; Faces east; One story (unit level)
• Construction: Block and stucco construction; Membrane roof; Slab foundation
• Exterior features: Exterior lighting; Storage structure included

Interior

• Kitchen: Cooktop; Range; Disposal; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Open floor plan; No building elevator
• Laundry & utility: On-site laundry room; Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (13.9% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $121k (13.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#129 in FL, #1,925 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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: Garden Elementary School (math 71% / reading 69%, grade A-, #345 of 2,144 statewide, top 17%, 513 students, 52% FRL); Venice Middle School (math 71% / reading 58%, grade A-, #100 of 571 statewide, top 18%, 761 students, 37% FRL); Venice Senior High School (math 67% / reading 61%, grade B-, #86 of 667 statewide, top 13%, 2,584 students, 31% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 468 active listings in the ZIP; 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 $967 of loan paydown is wiped out by about $4k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 22y 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 $95k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: major flood risk; 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 $120,516 (13.9% 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. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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 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: 1.15% ✓
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.9%
• Equity multiple: 0.47×
• Total profit: $-20,865
• Equity at exit: $20,860

10-year hold

• IRR: 3.4%
• Equity multiple: 1.32×
• Total profit: $12,718
• Equity at exit: $12,096

Cash invested: $39,172 (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 34285

• Rents YoY: 8.8%
• Active inventory: 468
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$58
• HOA: −$535
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $-110

Break-even live

Break-even rent $1,750

Max offer price $120,516

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-70	+0% $-110	+5% $-149	+10% $-189
Rent	-10% $-237	-5% $-173	+0% $-110	+5% $-46	+10% $18
Rate	-1.0pp $-39	-0.5pp $-74	base $-110	+0.5pp $-146	+1.0pp $-183

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $535 · $6,420/yr
• Likely covers: waterparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-15
   statusdays on market $139,900 Pending 14 DOM
2. 2026-06-13
   days on market $139,900 Active 13 DOM
3. 2026-06-13
   days on market $139,900 Active 12 DOM
4. 2026-06-10
   days on market $139,900 Active 10 DOM
5. 2026-06-09
   days on market $139,900 Active 9 DOM
6. 2026-06-08
   days on market $139,900 Active 8 DOM
7. 2026-06-08
   days on market $139,900 Active 7 DOM
8. 2026-06-05
   days on market $139,900 Active 4 DOM
9. 2026-06-03
   days on market $139,900 Active 3 DOM
10. 2026-06-02
    days on market $139,900 Active 2 DOM
11. 2026-06-01
    remarks 658-char remark
12. 2026-06-01
    listed $139,900 Active 1 DOM

ⓘ 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: $666 · $55/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$495/yr (+$41/mo · 74.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,332
• − Mortgage interest: −$7,837
• − Property taxes: −$666
• − Insurance: −$700
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$6,420
• − Depreciation: −$4,070
• Taxable loss: −$3,453
• Est. tax savings @ 24.0%: +$829
• After-tax cash flow: $-488/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 — Venice

• Score: 80/100
• State rank: #129
• US rank: #1925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 18,677
• Household income: $68,301
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 747.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 5% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% German/W. Germanic 2%

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: ▼ -329.42%
• Current HPI: 264.6389
• Rent YoY: ▲ 8.78%
• 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

+249.8% since first listed

25 events — show timeline

• 2026-05-31 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-06 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-21 Listed $174,900 Stellar MLS as Distributed by MLS Grid
• 2024-07-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-06-01 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-08 Price Changed $198,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-05 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-30 Listed $220,000 Stellar MLS as Distributed by MLS Grid
• 2015-06-15 Sold (Public Records) $95,000 Public Records
• 2015-06-12 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2015-05-06 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-09-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-09-17 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-06-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2012-11-20 Listed $95,900 Stellar MLS as Distributed by MLS Grid
• 2011-08-13 Listed $97,000 Stellar MLS as Distributed by MLS Grid
• 2010-01-15 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-15 Listed $164,900 Stellar MLS as Distributed by MLS Grid
• 2004-11-22 Listed $174,000 Stellar MLS as Distributed by MLS Grid
• 2003-04-01 Sold (Public Records) $63,500 Public Records
• 2001-05-25 Sold (Public Records) $59,500 Public Records
• 2000-10-23 Sold (Public Records) $56,500 Public Records
• 1997-02-07 Sold (Public Records) $40,000 Public Records

Property tax history

-4.8%/yr

Latest (2025): $666 · +3.8% YoY. Source: county tax records.