6703 Midnight Pass Rd #208 · Siesta Key, FL 34242

$299,999

1 bd · 1.0 ba · 702 sqft · Condo public records · 241 Days on market

Built 1974 $973/mo HOA · 26% 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 +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +5.4/10.0
• Appreciation +4.7/10.0
• DSCR +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LOWEST PRICE ON SIESTA KEY FOR A ONE BR CONDO OFFERING SHORT TERM RENTALS! Siesta Key Beach is calling you…experience the allure of coastal living at the quaint Sea Winds complex, conveniently located along Midnight Pass Rd. , just a short walk to the world-renowned Siesta Key beach! This prime beach investment offering the opportunity to rent with a 2-week minimum and also use for yourself. This condo has an excellent rental history with bookings in place currently and into high season 2026. Average gross rental income is $20K/year with more upside potential. This delightful 2nd floor, generously sized 1 bedroom condo sustained NO damage from storms and comes fully furnished turn key offering desirable features such as a fully updated & equipped kitchen in on trend design, updated bathroom with new granite top vanity, tub/shower with new high end glass door, tile flooring, fresh bright paint colors, room for guests with convertible sofa, inviting dining space, open floor plan, AC 5 years new, H2O heater 2 years new, well maintained and move in ready! Easy parking with your own assigned space in front of your condo, plus guest parking. The Sea Winds is a small community of 35 units with amenities designed for year-round enjoyment, including bicycle rooms, a social room, shared laundry, pet friendly, and a heated pool complete with lounge chairs, umbrellas, and convenient bathroom facilities. Community pool had a complete upgrade in summer 2025. All buildings had new roofs in 2024 and experienced no major storm damage. The vibrant South Village is nearby, offering a variety of restaurants, boutiques, lively beach bars, ice cream shops, groceries, pharmacies and rental options for everything from fishing and boating to biking and kayaking. Plus, a daily trolley service stops right in front of the Sea Winds Condominium complex, providing easy access to all of Siesta Key's attractions. See this well priced condo today that is ready to go and a great investment on the Key!

Key facts

• Tile flooring
• Bicycle rooms
• Updated bathroom

Tags

• FULLY UPDATED KITCHEN
• UPDATED BATHROOM
• TILE FLOORING
• ASSIGNED PARKING SPACE
• HEATED POOL
• BICYCLE ROOMS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-432 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (25.4% below list).
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $224k (25.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#512 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A-; Watch: amenities F, commute F, cost of living 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: 523 active listings in the ZIP; high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 39% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $2k of loan paydown is wiped out by about $2k 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 241 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $29k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $179k; list at $300k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,749 (25.4% 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 241 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.24% ✓
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.46×
• Total profit: $-45,065
• Equity at exit: $76,837

10-year hold

• IRR: -5.2%
• Equity multiple: 0.50×
• Total profit: $-42,367
• Equity at exit: $84,515

Cash invested: $84,000 (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 34242

• Home prices YoY: -0.3%
• Active inventory: 523
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,732 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$282 /mo · $3,387/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$973
• Vacancy / Maint / Mgmt: −$784
• Net cashflow: $-432

Break-even live

Break-even rent $4,278

Max offer price $223,749

Occupancy floor —

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $973 · $11,676/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $299,999 Active 241 DOM
2. 2026-06-17
   days on market $299,999 Active 240 DOM
3. 2026-06-16
   days on market $299,999 Active 239 DOM
4. 2026-06-15
   days on market $299,999 Active 238 DOM
5. 2026-06-13
   days on market $299,999 Active 236 DOM
6. 2026-06-13
   days on market $299,999 Active 235 DOM
7. 2026-06-10
   days on market $299,999 Active 233 DOM
8. 2026-06-09
   days on market $299,999 Active 232 DOM
9. 2026-06-08
   days on market $299,999 Active 230 DOM
10. 2026-06-05
    days on market $299,999 Active 227 DOM
11. 2026-06-03
    days on market $299,999 Active 226 DOM
12. 2026-06-02
    days on market $299,999 Active 225 DOM
13. 2026-06-01
    days on market $299,999 Active 224 DOM
14. 2026-05-31
    days on market $299,999 Active 223 DOM
15. 2026-02-13
    price $299,999 2015-char remark

    Show marketing remark (2015 chars)

    LOWEST PRICE ON SIESTA KEY FOR A ONE BR CONDO OFFERING SHORT TERM RENTALS! Siesta Key Beach is calling you…experience the allure of coastal living at the quaint Sea Winds complex, conveniently located along Midnight Pass Rd. , just a short walk to the world-renowned Siesta Key beach! This prime beach investment offering the opportunity to rent with a 2-week minimum and also use for yourself. This condo has an excellent rental history with bookings in place currently and into high season 2026. Average gross rental income is $20K/year with more upside potential. This delightful 2nd floor, generously sized 1 bedroom condo sustained NO damage from storms and comes fully furnished turn key offering desirable features such as a fully updated & equipped kitchen in on trend design, updated bathroom with new granite top vanity, tub/shower with new high end glass door, tile flooring, fresh bright paint colors, room for guests with convertible sofa, inviting dining space, open floor plan, AC 5 years new, H2O heater 2 years new, well maintained and move in ready! Easy parking with your own assigned space in front of your condo, plus guest parking. The Sea Winds is a small community of 35 units with amenities designed for year-round enjoyment, including bicycle rooms, a social room, shared laundry, pet friendly, and a heated pool complete with lounge chairs, umbrellas, and convenient bathroom facilities. Community pool had a complete upgrade in summer 2025. All buildings had new roofs in 2024 and experienced no major storm damage. The vibrant South Village is nearby, offering a variety of restaurants, boutiques, lively beach bars, ice cream shops, groceries, pharmacies and rental options for everything from fishing and boating to biking and kayaking. Plus, a daily trolley service stops right in front of the Sea Winds Condominium complex, providing easy access to all of Siesta Key's attractions. See this well priced condo today that is ready to go and a great investment on the Key!

16. 2026-01-26
    price $319,900 2015-char remark

    Show marketing remark (2015 chars)

    LOWEST PRICE ON SIESTA KEY FOR A ONE BR CONDO OFFERING SHORT TERM RENTALS! Siesta Key Beach is calling you…experience the allure of coastal living at the quaint Sea Winds complex, conveniently located along Midnight Pass Rd. , just a short walk to the world-renowned Siesta Key beach! This prime beach investment offering the opportunity to rent with a 2-week minimum and also use for yourself. This condo has an excellent rental history with bookings in place currently and into high season 2026. Average gross rental income is $20K/year with more upside potential. This delightful 2nd floor, generously sized 1 bedroom condo sustained NO damage from storms and comes fully furnished turn key offering desirable features such as a fully updated & equipped kitchen in on trend design, updated bathroom with new granite top vanity, tub/shower with new high end glass door, tile flooring, fresh bright paint colors, room for guests with convertible sofa, inviting dining space, open floor plan, AC 5 years new, H2O heater 2 years new, well maintained and move in ready! Easy parking with your own assigned space in front of your condo, plus guest parking. The Sea Winds is a small community of 35 units with amenities designed for year-round enjoyment, including bicycle rooms, a social room, shared laundry, pet friendly, and a heated pool complete with lounge chairs, umbrellas, and convenient bathroom facilities. Community pool had a complete upgrade in summer 2025. All buildings had new roofs in 2024 and experienced no major storm damage. The vibrant South Village is nearby, offering a variety of restaurants, boutiques, lively beach bars, ice cream shops, groceries, pharmacies and rental options for everything from fishing and boating to biking and kayaking. Plus, a daily trolley service stops right in front of the Sea Winds Condominium complex, providing easy access to all of Siesta Key's attractions. See this well priced condo today that is ready to go and a great investment on the Key!

17. 2026-01-07
    price $324,900 2015-char remark

    Show marketing remark (2015 chars)

    LOWEST PRICE ON SIESTA KEY FOR A ONE BR CONDO OFFERING SHORT TERM RENTALS! Siesta Key Beach is calling you…experience the allure of coastal living at the quaint Sea Winds complex, conveniently located along Midnight Pass Rd. , just a short walk to the world-renowned Siesta Key beach! This prime beach investment offering the opportunity to rent with a 2-week minimum and also use for yourself. This condo has an excellent rental history with bookings in place currently and into high season 2026. Average gross rental income is $20K/year with more upside potential. This delightful 2nd floor, generously sized 1 bedroom condo sustained NO damage from storms and comes fully furnished turn key offering desirable features such as a fully updated & equipped kitchen in on trend design, updated bathroom with new granite top vanity, tub/shower with new high end glass door, tile flooring, fresh bright paint colors, room for guests with convertible sofa, inviting dining space, open floor plan, AC 5 years new, H2O heater 2 years new, well maintained and move in ready! Easy parking with your own assigned space in front of your condo, plus guest parking. The Sea Winds is a small community of 35 units with amenities designed for year-round enjoyment, including bicycle rooms, a social room, shared laundry, pet friendly, and a heated pool complete with lounge chairs, umbrellas, and convenient bathroom facilities. Community pool had a complete upgrade in summer 2025. All buildings had new roofs in 2024 and experienced no major storm damage. The vibrant South Village is nearby, offering a variety of restaurants, boutiques, lively beach bars, ice cream shops, groceries, pharmacies and rental options for everything from fishing and boating to biking and kayaking. Plus, a daily trolley service stops right in front of the Sea Winds Condominium complex, providing easy access to all of Siesta Key's attractions. See this well priced condo today that is ready to go and a great investment on the Key!

18. 2025-10-20
    listed $329,000 Active 2015-char remark

    Show marketing remark (2015 chars)

    LOWEST PRICE ON SIESTA KEY FOR A ONE BR CONDO OFFERING SHORT TERM RENTALS! Siesta Key Beach is calling you…experience the allure of coastal living at the quaint Sea Winds complex, conveniently located along Midnight Pass Rd. , just a short walk to the world-renowned Siesta Key beach! This prime beach investment offering the opportunity to rent with a 2-week minimum and also use for yourself. This condo has an excellent rental history with bookings in place currently and into high season 2026. Average gross rental income is $20K/year with more upside potential. This delightful 2nd floor, generously sized 1 bedroom condo sustained NO damage from storms and comes fully furnished turn key offering desirable features such as a fully updated & equipped kitchen in on trend design, updated bathroom with new granite top vanity, tub/shower with new high end glass door, tile flooring, fresh bright paint colors, room for guests with convertible sofa, inviting dining space, open floor plan, AC 5 years new, H2O heater 2 years new, well maintained and move in ready! Easy parking with your own assigned space in front of your condo, plus guest parking. The Sea Winds is a small community of 35 units with amenities designed for year-round enjoyment, including bicycle rooms, a social room, shared laundry, pet friendly, and a heated pool complete with lounge chairs, umbrellas, and convenient bathroom facilities. Community pool had a complete upgrade in summer 2025. All buildings had new roofs in 2024 and experienced no major storm damage. The vibrant South Village is nearby, offering a variety of restaurants, boutiques, lively beach bars, ice cream shops, groceries, pharmacies and rental options for everything from fishing and boating to biking and kayaking. Plus, a daily trolley service stops right in front of the Sea Winds Condominium complex, providing easy access to all of Siesta Key's attractions. See this well priced condo today that is ready to go and a great investment on the Key!

19. 2025-06-30
    historical
20. 2025-06-03
    price $349,000
21. 2025-04-08
    price $369,000
22. 2025-01-29
    price $374,900
23. 2024-12-31
    listed $399,900 Active
24. 2002-01-08
    soldstatus $179,000
25. 1999-08-05
    soldstatus $90,500
26. 1998-04-17
    soldstatus $80,500

ⓘ 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: $3,387 · $282/mo
• Projected year-2 tax: $3,387 · $282/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $44,785
• − Mortgage interest: −$16,805
• − Property taxes: −$3,387
• − Insurance: −$6,618
• − Repairs & maintenance: −$3,583
• − Management: −$3,583
• − HOA: −$11,676
• − Depreciation: −$8,727
• Taxable loss: −$9,593
• Est. tax savings @ 24.0%: +$2,302
• After-tax cash flow: $-2,877/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 — Siesta Key

• Score: 68/100
• State rank: #512
• US rank: #9443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 7,529
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 7,529
• Household income: $115,967
• Rent vs Own: 9.6% rent · 90.4% own
• Severe rent burden: 147.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 91% English-only · German/W. Germanic 2% Spanish 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: ▼ -0.69%
• Current HPI: 237.6266
• Rent YoY: —
• 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

+272.7% since first listed

12 events — show timeline

• 2026-02-13 Price Changed $299,999 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $319,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $324,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-20 Listed $329,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-03 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-08 Price Changed $369,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-29 Price Changed $374,900 Stellar MLS as Distributed by MLS Grid
• 2024-12-31 Listed $399,900 Stellar MLS as Distributed by MLS Grid
• 2002-01-08 Sold (Public Records) $179,000 Public Records
• 1999-08-05 Sold (Public Records) $90,500 Public Records
• 1998-04-17 Sold (Public Records) $80,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $3,387 · -6.6% YoY. Source: county tax records.