7273 Cloister Dr #121 · Gulf Gate, FL 34231

$130,000

1 bd · 1.0 ba · 734 sqft · Condo public records · 389 Days on market

Built 1984 $548/mo HOA · 32% 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 +10.3/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

Key facts

• $548 HOA
• Community pool
• Built 1984

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-71 ($-849/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (9.6% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Gulf Gate Elementary School (math 60% / reading 65%, grade B, #601 of 2,144 statewide, top 28%, 655 students, 54% FRL); Brookside Middle School (math 62% / reading 55%, grade B, #148 of 571 statewide, top 26%, 745 students, 66% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Market conditions: Rents soft (-2.1%/yr); 566 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 $899 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

• It's been on market 389 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• 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 $114,400 (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 389 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.33% ✓
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 6.3

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: -25.6%
• Equity multiple: 0.17×
• Total profit: $-30,291
• Equity at exit: $19,383

10-year hold

• IRR: -52.4%
• Equity multiple: -0.38×
• Total profit: $-50,341
• Equity at exit: $11,240

Cash invested: $36,400 (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 34231

• Rents YoY: -2.1%
• Active inventory: 566
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$54
• HOA: −$548
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-71

Break-even live

Break-even rent $1,821

Max offer price $117,496

Occupancy floor 99%

Sensitivity live

Price	-10% $3	-5% $-34	+0% $-71	+5% $-108	+10% $-144
Rent	-10% $-208	-5% $-139	+0% $-71	+5% $-2	+10% $66
Rate	-1.0pp $-5	-0.5pp $-38	base $-71	+0.5pp $-104	+1.0pp $-139

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $548 · $6,576/yr
• Likely covers: watersewertrashcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $130,000 Active 389 DOM
2. 2026-06-18
   days on market $130,000 Active 386 DOM
3. 2026-06-17
   days on market $130,000 Active 385 DOM
4. 2026-06-15
   days on market $130,000 Active 383 DOM
5. 2026-06-13
   days on market $130,000 Active 381 DOM
6. 2026-06-13
   days on market $130,000 Active 380 DOM
7. 2026-06-10
   days on market $130,000 Active 378 DOM
8. 2026-06-09
   days on market $130,000 Active 377 DOM
9. 2026-06-08
   days on market $130,000 Active 375 DOM
10. 2026-06-05
    days on market $130,000 Active 372 DOM
11. 2026-06-03
    days on market $130,000 Active 371 DOM
12. 2026-06-02
    days on market $130,000 Active 370 DOM
13. 2026-06-01
    days on market $130,000 Active 369 DOM
14. 2026-05-31
    days on market $130,000 Active 368 DOM
15. 2026-04-14
    price $130,000 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

16. 2026-01-14
    status Active 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

17. 2026-01-13
    historical 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

18. 2025-12-15
    price $140,000 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

19. 2025-07-31
    price $150,000 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

20. 2025-05-27
    listed $160,000 Active 939-char remark

    Show marketing remark (939 chars)

    Reduced Price! Charming 1-Bedroom, 1-Bathroom Condo in Gulf Gate, Sarasota Discover comfort and convenience in this cozy first-floor condo located in the desirable Gulf Gate area of Sarasota. This well-maintained 1-bedroom, 1-bathroom unit offers a relaxed Florida lifestyle with access to a community pool and included amenities such as basic cable, water, sewer, and trash service. Enjoy the added bonus of a private storage room located just steps from your front door. Whether you're looking for a full-time residence, a seasonal getaway, or a smart investment opportunity, this condo fits the bill. Perfectly situated just minutes from the stunning Gulf Coast beaches, The Legacy Trail, I-75, downtown Sarasota, UTC Mall, and Sarasota-Bradenton International Airport—everything you need is within easy reach. Don’t miss out on this affordable opportunity to own in one of Sarasota’s most sought-after neighborhoods!

21. 1984-06-01
    soldstatus $49,900

ⓘ 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: $1,861 · $155/mo
• Projected year-2 tax: $1,861 · $155/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: $20,783
• − Mortgage interest: −$7,282
• − Property taxes: −$1,861
• − Insurance: −$650
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$6,576
• − Depreciation: −$3,782
• Taxable loss: −$2,693
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $-203/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 — Gulf Gate

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

Census & demographics

• Census place: Gulf Gate, FL
• County: Sarasota County · 448,376 people
• City population: 32,203
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 32,404
• Household income: $69,925
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1983.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Russian/Polish/Slavic 2% German/W. Germanic 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: ▼ -448.92%
• Current HPI: 292.9055
• Rent YoY: ▼ -2.13%
• 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

+160.5% since first listed

7 events — show timeline

• 2026-04-14 Price Changed $130,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-31 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-27 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 1984-06-01 Sold (Public Records) $49,900 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,861 · +2.3% YoY. Source: county tax records.