6501 Stone River Rd #209 · Lakewood Ranch, FL 34203

$175,000

2 bd · 2.0 ba · 1,042 sqft · Condo public records · 444 Days on market

Built 1989 $568/mo HOA · 24% of rent

---

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 +17.6/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Furnished Golf Course Condo With Class "A" Membership Included. This light & bright 2 bedroom, 2 bath, 2nd floor unit with elevator features a foyer entry, eat-in kitchen, full size washer/dryer in the unit, Master Suite with walk-in closet & large walk-in shower. The spacious screened lanai has a great view of the 2nd hole. The Terraces have their own tennis court & pool. The private Tara Country Club renovated the clubhouse and golf course in 2009. Other Amenities include a driving range, picnic areas, bar-b-que grills and exercise facility. Located near shopping outlets & I-75. Fees: 1 time capital contribution $3,041.00, Golf Membersip $376 per month, Dining Minimum $60.00 per month, Tara Master Associatio $462.35 per year.

Key facts

• Hot tub
• Turn-key
• Private restaurant

Tags

• UNLIMITED GOLF
• PRIVATE RESTAURANT
• TURN-KEY
• TRANSFERABLE GOLF MEMBERSHIP
• ON-SITE POOL
• HOT TUB

Property features AI

Finance

• Other: Condominium unit is furnished; Home warranty available
• Financial info: Total monthly fees reported around $568.92; Total annual fees reported around $6,827; Lease restrictions apply
• HOA & community: HOA required; monthly HOA approximately $477.67; Quarterly association fee listed ($1,433); Additional annual association fee listed ($1,095); Association approves buyers; Association amenities include clubhouse, fitness center, pool, tennis courts, pickleball courts, golf course access, maintenance, cable TV; Pets allowed (cats and dogs OK); Association covers cable TV, internet, structure and grounds maintenance, pest control, pool, sewer, trash, and water

Exterior

• Parking: Carport with 1 space
• Utilities: Public sewer; Water connected; Electricity connected; Cable connected; Sewer connected
• Home design: Condominium; Residential property; Faces southeast; Three or more stories (building has 3 stories); Unit on 2nd floor; Entry on upper level
• Construction: Stucco construction; Tile roof; Slab foundation; Building identified as 6501; Built as part of a multi-story complex
• Exterior features: Balcony; Sliding doors; Tennis courts on property; Asphalt road access; Irrigation with reclaimed water (community)

Interior

• Kitchen: Dishwasher; Disposal; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (located on 2nd floor)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Walk-in closets; Building has elevator
• Laundry & utility: In-unit laundry in a laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.3% in Lakewood Ranch — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tara Elementary School (math 79% / reading 66%, grade A, #281 of 2,144 statewide, top 13%, 559 students, 52% FRL); Braden River High School (math 44% / reading 52%, grade D, #201 of 667 statewide, top 30%, 1,774 students, 45% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 384 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 40% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 444 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $23k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $175k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 444 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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 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: 1.36% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 6.1

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: -15.6%
• Equity multiple: 0.47×
• Total profit: $-26,173
• Equity at exit: $26,093

10-year hold

• IRR: -16.9%
• Equity multiple: 0.25×
• Total profit: $-36,978
• Equity at exit: $15,131

Cash invested: $49,000 (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 34203

• Home prices YoY: -24.5%
• Rents YoY: -1.0%
• Active inventory: 384
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,386 high
• Mortgage (P&I): −$918
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$73
• HOA: −$568
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $138

Break-even live

Break-even rent $2,210

Max offer price $175,000

Occupancy floor 89%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6501 Stone River Rd Unit Available Bradenton, FL	2.0	2.0	1118	$2,200	$1.97	23d	1	0.04mi
6501 Stone River Rd Bradenton, FL	2.0	2.0	1080	$2,820	$2.61	16d	2	0.04mi
6505 Stone River Rd Bradenton, FL	2.0	2.0	1080	$2,825	$2.62	16d	3	0.06mi
5414 Fair Oaks St Unit 10-D Bradenton, FL	2.0	2.0	1004	$1,995	$1.99	3d	1	0.12mi
5515 Fair Oaks St Unit 5515 Bradenton, FL	2.0	2.0	1004	$2,000	$1.99	23d	1	0.16mi
6503 Fairway Gardens Dr Unit Available Bradenton, FL	2.0	2.0	1346	$2,200	$1.63	23d	1	0.16mi
6758 Fairview Ter Bradenton, FL	2.0	2.0	1346	$2,300	$1.71	23d	1	0.26mi
6713 Stone River Rd #202 Bradenton, FL	2.0	2.0	1232	$1,900	$1.54	23d	1	0.27mi
6807 Stone River Rd #202 Bradenton, FL	2.0	2.0	1292	$3,500	$2.71	16d	1	0.29mi
6870 Fairview Ter #6870 Bradenton, FL	2.0	2.0	1346	$2,200	$1.63	16d	1	0.33mi
6872 Fairview Ter #101 Bradenton, FL	2.0	2.0	1352	$2,000	$1.48	23d	1	0.33mi
5635 Whitehead St Bradenton, FL	2.0	2.5	1496	$2,300	$1.54	23d	1	0.79mi
7224 49th Ave E Bradenton, FL	3.0	2.0	1349	$3,000	$2.22	23d	1	0.83mi
5650 Simonton St Bradenton, FL	2.0	2.5	1496	$2,095	$1.40	3d	1	0.89mi
5316 53rd Ave E Unit Q111 Bradenton, FL	2.0	2.0	1056	$1,495	$1.42	10d	1	0.97mi
5616 Gentle Breeze St Bradenton, FL	2.0	2.0	1100	$1,700	$1.55	23d	1	1.07mi
7189 Strand Cir Unit 1 Bradenton, FL	2.0	2.0	1368	$2,300	$1.68	23d	1	1.20mi
7037 Scrub Jay Way Unit 7037 Bradenton, FL	2.0	2.0	1320	$2,000	$1.52	23d	1	1.25mi
6351 Bay Cedar Ln Bradenton, FL	2.0	2.0	1320	$2,100	$1.59	23d	1	1.27mi
5707 45th St E #19 Bradenton, FL	2.0	2.0	972	$1,700	$1.75	23d	1	1.34mi
6421 Bay Cedar Ln Bradenton, FL	2.0	2.0	1368	$2,100	$1.54	23d	1	1.34mi
7224 Cedar Hollow Cir Bradenton, FL	2.0	2.0	1406	$2,200	$1.56	23d	1	1.49mi

HOA detail condo

• Monthly dues: $568 · $6,816/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $175,000 Active 444 DOM
2. 2026-06-17
   days on market $175,000 Active 443 DOM
3. 2026-06-16
   days on market $175,000 Active 442 DOM
4. 2026-06-15
   days on market $175,000 Active 441 DOM
5. 2026-06-13
   days on market $175,000 Active 439 DOM
6. 2026-06-13
   days on market $175,000 Active 438 DOM
7. 2026-06-10
   days on market $175,000 Active 436 DOM
8. 2026-06-09
   days on market $175,000 Active 435 DOM
9. 2026-06-08
   days on market $175,000 Active 434 DOM
10. 2026-06-08
    days on market $175,000 Active 433 DOM
11. 2026-06-03
    days on market $175,000 Active 429 DOM
12. 2026-06-02
    days on market $175,000 Active 428 DOM
13. 2026-06-01
    days on market $175,000 Active 427 DOM
14. 2026-05-31
    days on market $175,000 Active 426 DOM
15. 2025-09-22
    price $175,000
16. 2025-03-31
    listed $198,000 Active
17. 2013-04-18
    soldstatus $66,000
18. 2013-04-12
    soldstatus $66,000 771-char remark

    Show marketing remark (771 chars)

    Furnished Golf Course Condo With Class "A" Membership Included. This light & bright 2 bedroom, 2 bath, 2nd floor unit with elevator features a foyer entry, eat-in kitchen, full size washer/dryer in the unit, Master Suite with walk-in closet & large walk-in shower. The spacious screened lanai has a great view of the 2nd hole. The Terraces have their own tennis court & pool. The private Tara Country Club renovated the clubhouse and golf course in 2009. Other Amenities include a driving range, picnic areas, bar-b-que grills and exercise facility. Located near shopping outlets & I-75. Fees: 1 time capital contribution $3,041.00, Golf Membersip $376 per month, Dining Minimum $60.00 per month, Tara Master Associatio $462.35 per year.

19. 2013-02-14
    listed $69,900 771-char remark

    Show marketing remark (771 chars)

    Furnished Golf Course Condo With Class "A" Membership Included. This light & bright 2 bedroom, 2 bath, 2nd floor unit with elevator features a foyer entry, eat-in kitchen, full size washer/dryer in the unit, Master Suite with walk-in closet & large walk-in shower. The spacious screened lanai has a great view of the 2nd hole. The Terraces have their own tennis court & pool. The private Tara Country Club renovated the clubhouse and golf course in 2009. Other Amenities include a driving range, picnic areas, bar-b-que grills and exercise facility. Located near shopping outlets & I-75. Fees: 1 time capital contribution $3,041.00, Golf Membersip $376 per month, Dining Minimum $60.00 per month, Tara Master Associatio $462.35 per year.

20. 2011-10-18
    listed $71,900
21. 1990-09-07
    soldstatus $84,000

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $2,252 · $188/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 ≥108°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: $28,627
• − Mortgage interest: −$9,803
• − Property taxes: −$2,252
• − Insurance: −$875
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − HOA: −$6,816
• − Depreciation: −$5,091
• Taxable loss: −$790
• Est. tax savings @ 24.0%: +$190
• After-tax cash flow: $1,849/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Lakewood Ranch

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Manatee County · 416,364 people
• City population: 52,177
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 40,618
• Household income: $70,761
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1469.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 9% Asian 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Vietnam, Dominican Republic
• Languages at home: 76% English-only · Spanish 16% Vietnamese 2% Other Indo-European 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.87%
• Current HPI: 295.8871
• Rent YoY: ▼ -0.97%
• 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

+108.3% since first listed

7 events — show timeline

• 2025-09-22 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-31 Listed $198,000 Stellar MLS as Distributed by MLS Grid
• 2013-04-18 Sold (Public Records) $66,000 Public Records
• 2013-04-12 Sold (MLS) $66,000 Stellar MLS as Distributed by MLS Grid
• 2013-02-14 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2011-10-18 Listed $71,900 Stellar MLS as Distributed by MLS Grid
• 1990-09-07 Sold (Public Records) $84,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,252 · -5.0% YoY. Source: county tax records.