3502 Lake Bayshore Dr Unit K102 · South Bradenton, FL 34205

$89,000

2 bd · 2.0 ba · 1,144 sqft · Condo · 118 Days on market

Built 1980 Good condition $569/mo HOA · 34% of rent ↓ 32% since listing

---

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 +21.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Updated 2-Bedroom, 2-Bath Condo in Bayshore on the Lake – 55+ Community Welcome to this spacious and meticulously maintained 2-bedroom, 2-bath condominium located in Building K at Bayshore on the Lake. This inviting residence offers comfortable living in a peaceful and well-established 55+ community. The unit features newer appliances (only 3 years old) and a brand-new A/C system installed just 3 months ago, providing added value, efficiency, and peace of mind for the next owner. Residents enjoy a variety of amenities, including a clubhouse, heated swimming pool, shuffleboard courts, fishing pier, cable and internet, and picturesque lake views throughout the community. Id

Key facts

• Shuffleboard courts
• Fishing pier
• Newer appliances

Tags

• NEWER APPLIANCES
• BRAND NEW A/C SYSTEM
• HEATED SWIMMING POOL
• SHUFFLEBOARD COURTS
• FISHING PIER
• PICTURESQUE LAKE VIEWS

Property features AI

Finance

• Other: Unfurnished; Homestead exemption indicated
• Financial info: Total monthly fees $569; total annual fees $6,828; Lease restrictions apply
• HOA & community: Monthly condo/HOA fee of $569 (includes cable TV, internet, pool, insurance, maintenance of structure and grounds, private road, trash, escrow reserves); Association approval required; Association recreation owned, deed restrictions, pool, sidewalks; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available and connected; Internet available
• Home design: Condominium; Residential property; One level (unit on floor 1); Faces east; Wheelchair accessible / enhanced accessibility
• Construction: Block construction; Shingle roof; Slab foundation; Building identified as K
• Exterior features: Porch; Exterior lighting; Pond with fishing pier access; Mature landscaping with trees

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Open living/dining area; Walk-in closets; Florida room; Inside utility/laundry room
• Laundry & utility: Washer; Dryer; Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $89k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.1% in South Bradenton — 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 77/100 on livability (#195 in FL, #3,092 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D+, commute F.
• 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: Robert H. Prine Elementary School (math 46% / reading 32%, grade F, #1,560 of 2,144 statewide, top 73%, 744 students, 75% FRL); Southeast High School (math 25% / reading 34%, grade F, #447 of 667 statewide, top 68%, 1,716 students, 66% FRL) — zoned schools average 70% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 52% district-wide (-18 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.4%/yr); 319 active listings in the ZIP; 40 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 38% of the median local income ($53k/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 $615 of loan paydown is wiped out by about $3k 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 118 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
7. Crime grade is D 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?
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: 1.87% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 4.4

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: -12.2%
• Equity multiple: 0.58×
• Total profit: $-10,400
• Equity at exit: $13,270

10-year hold

• IRR: -14.4%
• Equity multiple: 0.38×
• Total profit: $-15,439
• Equity at exit: $7,695

Cash invested: $24,920 (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 34205

• Rents YoY: -2.4%
• Active inventory: 319
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$569
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $134

Break-even live

Break-even rent $1,499

Max offer price $89,000

Occupancy floor 87%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3064 Lake Bayshore Dr Unit 115 Bradenton, FL	2.0	2.0	1144	$1,250	$1.09	23d	1	0.02mi
3124 Lake Bayshore Dr Unit 219 Bradenton, FL	2.0	2.0	1144	$2,300	$2.01	23d	1	0.02mi
4444 17th St W Unit B Bradenton, FL	2.0	1.0	850	$2,200	$2.59	23d	1	0.19mi
4204 Heron Way Unit B304 Bradenton, FL	2.0	1.0	912	$1,400	$1.54	3d	1	0.23mi
4515 26th St W Bradenton, FL	1.0–2.0	1.0–2.0	806	$1,510	$1.87	1d	14	0.30mi
2305 46th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	1005	$1,837	$1.83	2d	10	0.34mi
4607 21st St W Bradenton, FL	3.0	2.0	1133	$2,500	$2.21	23d	1	0.36mi
3963 Lake Bayshore Dr Unit F-414 Bradenton, FL	2.0	1.0	1040	$1,200	$1.15	14d	1	0.40mi
4121 Heron Way #108 Bradenton, FL	2.0	2.0	1144	$1,340	$1.17	23d	1	0.40mi
4129 Lake Bayshore Dr Unit C501 Bradenton, FL	2.0	2.0	1144	$1,600	$1.40	3d	1	0.40mi
3635 Lake Bayshore Dr Unit J410 Bradenton, FL	2.0	2.0	1144	$1,700	$1.49	23d	1	0.40mi
3737 Lake Bayshore Dr Unit 213 Bradenton, FL	2.0	1.0	912	$1,150	$1.26	21d	1	0.40mi
4109 Lake Bayshore Dr Bradenton, FL	1.0	1.0	768	$1,250	$1.63	23d	1	0.40mi
3506 14th St W Bradenton, FL	3.0	1.0–2.0	874	$1,725	$1.97	23d	5	0.55mi
1308 36th Ave W Bradenton, FL	1.0	1.0	715	$1,199	$1.68	23d	1	0.56mi
2004 49th Ave W Unit 2002 Bradenton, FL	2.0	2.0	1021	$1,950	$1.91	23d	1	0.59mi
4906 21st St W Bradenton, FL	2.0	1.0	918	$1,700	$1.85	16d	1	0.61mi
4705 27th St W Unit A Bradenton, FL	2.0	1.0	750	$1,325	$1.77	3d	1	0.62mi
4916 18th St W Unit B Bradenton, FL	2.0	2.0	1170	$1,650	$1.41	23d	1	0.65mi
5001 22nd St W Unit B Bradenton, FL	2.0	1.0	729	$1,700	$2.33	16d	1	0.68mi
4906 25th St W #101 Bradenton, FL	2.0	1.5	1070	$1,550	$1.45	23d	1	0.72mi
4812 27th St W Bradenton, FL	2.0	2.0	912	$1,599	$1.75	11d	1	0.73mi
4812 27th St W Unit 4812 Bradenton, FL	2.0	2.0	912	$1,545	$1.69	11d	1	0.73mi
919 34th Ave W Bradenton, FL	3.0	1.0	950	$1,599	$1.68	11d	1	0.76mi
5016 22nd St W Bradenton, FL	2.0	1.0	1400	$1,600	$1.14	3d	1	0.77mi
907 34th Ave W Unit B Bradenton, FL	3.0	1.0	1000	$1,795	$1.79	23d	1	0.77mi
907 34th Ave W Bradenton, FL	3.0	1.0	985	$1,599	$1.62	19d	1	0.77mi
2306 30th Ave W Bradenton, FL	3.0	2.0	945	$1,700	$1.80	23d	1	0.78mi
2835 50th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	850	$1,610	$1.89	3d	16	0.82mi
655 Park Cir Bradenton, FL	1.0	1.5	816	$1,100	$1.35	23d	1	0.83mi
2901 26th St W #807 Bradenton, FL	2.0	2.0	940	$1,525	$1.62	2d	1	0.88mi
3512 32nd St W Bradenton, FL	2.0	1.0	1200	$2,100	$1.75	3d	1	0.90mi
915 50th Avenue Plz W Bradenton, FL	2.0	1.0	700	$1,200	$1.71	23d	1	0.90mi
4630 5th St W Ste 6 Bradenton, FL	2.0	1.0	1000	$1,600	$1.60	11d	1	0.90mi
5059 Live Oak Cir Unit 5059 Bradenton, FL	2.0	2.0	896	$1,900	$2.12	16d	1	0.92mi
707 50th Ave W Bradenton, FL	2.0	1.0	730	$1,150	$1.58	23d	1	0.96mi
304 47th Avenue Dr W #112 Bradenton, FL	1.0	1.0	725	$1,200	$1.66	23d	1	0.96mi
4810 Ho Wil Ln Unit 4810 Bradenton, FL	2.0	1.0	784	$1,600	$2.04	23d	1	0.97mi
5062 Live Oak Cir Unit 5026 Bradenton, FL	2.0	2.0	896	$1,545	$1.72	16d	1	0.97mi
5103 29th St W Bradenton, FL	2.0	2.0	1258	$2,600	$2.07	23d	1	0.99mi

HOA detail condo

• Monthly dues: $569 · $6,828/yr
• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $89,000 Active 118 DOM
2. 2026-06-17
   price $89,000 Active 117 DOM
3. 2026-06-17
   days on market $99,000 Active 117 DOM
4. 2026-06-16
   days on market $99,000 Active 116 DOM
5. 2026-06-15
   days on market $99,000 Active 115 DOM
6. 2026-06-13
   days on market $99,000 Active 113 DOM
7. 2026-06-13
   days on market $99,000 Active 112 DOM
8. 2026-06-10
   days on market $99,000 Active 110 DOM
9. 2026-06-09
   days on market $99,000 Active 109 DOM
10. 2026-06-08
    days on market $99,000 Active 108 DOM
11. 2026-06-08
    days on market $99,000 Active 107 DOM
12. 2026-06-03
    days on market $99,000 Active 103 DOM
13. 2026-06-02
    days on market $99,000 Active 102 DOM
14. 2026-06-01
    days on market $99,000 Active 101 DOM
15. 2026-05-31
    days on market $99,000 Active 100 DOM
16. 2026-05-27
    price $99,000
17. 2026-03-21
    price $129,000
18. 2026-02-21
    listed $145,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,022
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − HOA: −$6,828
• − Depreciation: −$2,589
• Taxable income: $636
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $1,456/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 2-bath condo is in good condition with newer appliances and a recently installed A/C system. It offers a good investment opportunity with potential for cosmetic upgrades to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — South Bradenton

• Score: 77/100
• State rank: #195
• US rank: #3092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Bradenton, FL
• County: Manatee County · 416,364 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 31,946
• Household income: $52,525
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1736.0

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 18% Black 10% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 1%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 78% English-only · Spanish 14% French/Haitian/Cajun 2% German/W. Germanic 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: ▼ -310.18%
• Current HPI: 369.8239
• Rent YoY: ▼ -2.43%
• 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

-31.7% since first listed

3 events — show timeline

• 2026-05-27 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Listed $145,000 Stellar MLS as Distributed by MLS Grid