402 Belvidere Rd · South Venice, FL 34223

$249,900

2 bd · 1.5 ba · 1,229 sqft · SingleFamily public records · 93 Days on market

Built 1968 0.35 ac lot

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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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +5.4/10.0
• 1% rule +5.1/10.0
• Rent growth +4.8/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OPPORTUNITY AWAITS - Don't miss this opportunity to own a home within walking/biking distance to the beach! This charming concrete block home resides on a generous corner lot in one of the area's most desirable neighborhoods. The home includes updated, impact-rated windows throughout, stainless steel appliances, and an air-conditioned Florida room. Property is located between Englewood and Venice, where you’ll be just minutes from dining, shopping, and cultural activities in Downtown Venice or Englewood. Less than 1.5 miles to Manasota Beach, this is a rare opportunity to own the beach home you've always wanted. Ideal location for boaters with a public boat ramp right next to Man

Key facts

• Impact-rated windows
• Public boat ramp
• Corner lot

Tags

• CORNER LOT
• IMPACT-RATED WINDOWS
• AIR CONDITIONED FLORIDA ROOM
• PUBLIC BOAT RAMP

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (12.2% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $219k (12.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: amenities F, commute F, health & safety 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: Englewood Elementary School (math 65% / reading 66%, grade B+, #500 of 2,144 statewide, top 24%, 587 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 (+9.0%/yr); 726 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 40% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $7k 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 93 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $70k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,435 (12.2% 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 93 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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. 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.01% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 8.2

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: -14.3%
• Equity multiple: 0.46×
• Total profit: $-37,792
• Equity at exit: $37,261

10-year hold

• IRR: 2.4%
• Equity multiple: 1.22×
• Total profit: $15,087
• Equity at exit: $21,607

Cash invested: $69,972 (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 34223

• Home prices YoY: -34.2%
• Rents YoY: 9.0%
• Active inventory: 726
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,531 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$331 /mo · $3,967/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $-172

Break-even live

Break-even rent $2,749

Max offer price $219,435

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-102	+0% $-172	+5% $-243	+10% $-314
Rent	-10% $-372	-5% $-272	+0% $-172	+5% $-72	+10% $27
Rate	-1.0pp $-47	-0.5pp $-109	base $-172	+0.5pp $-237	+1.0pp $-303

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-13
   statusdays on market $249,900 Pending 93 DOM
2. 2026-06-13
   days on market $249,900 Active 92 DOM
3. 2026-06-10
   days on market $249,900 Active 90 DOM
4. 2026-06-09
   days on market $249,900 Active 89 DOM
5. 2026-06-08
   days on market $249,900 Active 88 DOM
6. 2026-06-08
   days on market $249,900 Active 87 DOM
7. 2026-06-05
   days on market $249,900 Active 84 DOM
8. 2026-06-03
   days on market $249,900 Active 83 DOM
9. 2026-06-02
   days on market $249,900 Active 82 DOM
10. 2026-06-02
    pricestatus $249,900 Active 81 DOM
11. 2026-04-27
    status Pending
12. 2026-03-20
    price $274,900
13. 2026-03-06
    status Active
14. 2026-02-20
    status Pending
15. 2026-02-09
    price $299,900
16. 2026-01-27
    status Active
17. 2026-01-25
    status Pending
18. 2026-01-20
    listed $319,900 Active
19. 2004-01-07
    soldstatus $825,000
20. 2003-02-14
    soldstatus $120,000
21. 1987-05-01
    soldstatus $73,500

ⓘ 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: $3,967 · $331/mo
• Projected year-2 tax: $3,967 · $331/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 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,369
• − Mortgage interest: −$13,998
• − Property taxes: −$3,967
• − Insurance: −$6,368
• − Repairs & maintenance: −$2,430
• − Management: −$2,430
• − Depreciation: −$7,270
• Taxable loss: −$6,093
• Est. tax savings @ 24.0%: +$1,462
• After-tax cash flow: $-607/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 — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,884
• Household income: $76,016
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 290.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 4% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 94% English-only · German/W. Germanic 2% Spanish 1% 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: ▼ -146.26%
• Current HPI: 281.0529
• Rent YoY: ▲ 9.02%
• 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

+274.0% since first listed

11 events — show timeline

• 2026-04-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $274,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $299,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Listed $319,900 Stellar MLS as Distributed by MLS Grid
• 2004-01-07 Sold (Public Records) $825,000 Public Records
• 2003-02-14 Sold (Public Records) $120,000 Public Records
• 1987-05-01 Sold (Public Records) $73,500 Public Records

Property tax history

+8.5%/yr

Latest (2025): $3,967 · +7.2% YoY. Source: county tax records.