1645 23rd St · Sarasota, FL 34234

$49,900

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 12 Days on market

Built 1959 5,750 sqft lot ↓ 11% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

Key facts

• 5,750 sq ft lot
• Built 1959
• Listed 12 days

Property features AI

Finance

• Other: Property type: Residential (Single Family Residence); Zoned RSF4; Lot about 0.13 acres (approximately 0 to less than 1/4 acre)
• HOA & community: No HOA association listed

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story; Faces south
• Construction: Frame construction; Shingle roof; Crawlspace foundation; Approximately 800 sq ft living area
• Exterior features: Private mailbox; Concrete and paved road frontage

Interior

• Kitchen: Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No interior features listed
• Laundry & utility: No laundry room features listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime 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 falling (-3.1%/yr); 268 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $49,900

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 4.11% ✓
• Cap rate: 35.71%
• Cash-on-cash: 105.08%
• DSCR: 5.68
• GRM: 2.0

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: —
• Equity multiple: 5.57×
• Total profit: $63,889
• Equity at exit: $7,440

10-year hold

• IRR: —
• Equity multiple: 10.52×
• Total profit: $133,003
• Equity at exit: $4,314

Cash invested: $13,972 (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 34234

• Rents YoY: -3.1%
• Active inventory: 268
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,050 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$114 /mo · $1,367/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $1,223

Break-even live

Break-even rent $502

Max offer price $49,900

Occupancy floor 35%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-05
   statusdays on market $49,900 Pending 12 DOM
2. 2026-06-03
   days on market $49,900 Active 11 DOM
3. 2026-06-02
   days on market $49,900 Active 10 DOM
4. 2026-06-01
   days on market $49,900 Active 9 DOM
5. 2026-05-31
   days on market $49,900 Active 8 DOM
6. 2026-05-05
   status Pending
7. 2026-04-30
   listed $49,900 Active
8. 2018-04-24
   soldstatus $55,000
9. 2018-04-16
   soldstatus $55,000 Sold 82-char remark

   Show marketing remark (82 chars)

   Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

10. 2018-04-11
    status Pending 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

11. 2018-03-26
    status Pending 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

12. 2018-03-20
    historical 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

13. 2018-02-14
    status Active 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

14. 2018-01-29
    status Pending 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

15. 2018-01-16
    price $55,000 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

16. 2018-01-16
    status Active 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

17. 2018-01-08
    status Pending 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

18. 2017-12-24
    price $65,000 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

19. 2017-12-18
    status Active 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

20. 2017-12-18
    historical 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

21. 2017-12-12
    price $70,000 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

22. 2017-12-07
    listed $75,000 Active 82-char remark

    Show marketing remark (82 chars)

    Nice 3 bedroom 1 bath 800 SqFt home! Great investment property. Needs a little TLC

23. 2013-06-11
    soldstatus $55,900

ⓘ 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: $1,367 · $114/mo
• Projected year-2 tax: $1,367 · $114/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 · 29 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: $24,604
• − Mortgage interest: −$2,795
• − Property taxes: −$1,367
• − Insurance: −$250
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$1,452
• Taxable income: $14,805
• Est. tax owed @ 24.0%: −$3,553
• After-tax cash flow: $11,128/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 — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sarasota, FL
• County: Sarasota County · 448,376 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 22,986
• Household income: $57,288
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1306.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 31% Hispanic / Latino 20% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 4% Hispanic 2% Romanian 1%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 17% French/Haitian/Cajun 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: ▼ -229.06%
• Current HPI: 305.6629
• Rent YoY: ▼ -3.15%
• 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

-10.7% since first listed

18 events — show timeline

• 2026-05-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Listed $49,900 Stellar MLS as Distributed by MLS Grid
• 2018-04-24 Sold (Public Records) $55,000 Public Records
• 2018-04-16 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2018-04-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-02-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2018-01-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-01-16 Price Changed $55,000 Stellar MLS as Distributed by MLS Grid
• 2018-01-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2018-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-12-24 Price Changed $65,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-18 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-12-18 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-12-12 Price Changed $70,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-07 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2013-06-11 Sold (Public Records) $55,900 Public Records

Property tax history

+9.7%/yr

Latest (2025): $1,367 · -1.2% YoY. Source: county tax records.