3952 Coleridge Pl · Lake Sarasota, FL 34241

$359,000

3 bd · 2.0 ba · 1,623 sqft · SingleFamily public records · 47 Days on market

Built 1964 7,560 sqft 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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +5.4/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Renovated Home in Highly Sought-After Lake Sarasota! No HOA, No Deed Restrictions! Welcome to this beautifully updated 3-bedroom, 2-bathroom home nestled on a quiet cul-de-sac in the desirable Lake Sarasota community. Boasting 1,623 sq. ft. of stylish and modern living space, this home has been completely transformed with top-to-bottom renovations. Step inside to discover an open and airy split floor plan featuring brand-new vinyl flooring throughout, recessed lighting, and a stunning fully renovated kitchen with sleek new cabinetry, quartz countertops, and brand-new stainless steel appliances. Both bathrooms have also been completely updated with con

Key facts

• Renovated home
• Spacious backyard
• Top-rated schools

Tags

• RENOVATED HOME
• FULLY RENOVATED KITCHEN
• SPACIOUS BACKYARD
• TOP-RATED SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (7.0% below list).
• Recommended offer: $334k (7.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#365 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute 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 soft (-0.1%/yr); 564 active listings in the ZIP; high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 34% of the median local income ($116k/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 $11k 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 47 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $157k; list at $359k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $333,703 (7.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• GRM: 9.0

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: -12.5%
• Equity multiple: 0.56×
• Total profit: $-43,996
• Equity at exit: $53,528

10-year hold

• IRR: -8.3%
• Equity multiple: 0.55×
• Total profit: $-45,496
• Equity at exit: $31,040

Cash invested: $100,520 (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 34241

• Rents YoY: -0.1%
• Active inventory: 564
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,337 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$227 /mo · $2,718/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $377

Break-even live

Break-even rent $2,859

Max offer price $359,000

Occupancy floor 84%

Sensitivity live

Price	-10% $581	-5% $479	+0% $377	+5% $276	+10% $174
Rent	-10% $114	-5% $246	+0% $377	+5% $509	+10% $641
Rate	-1.0pp $558	-0.5pp $469	base $377	+0.5pp $284	+1.0pp $190

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-18
   status Pending
2. 2026-04-09
   price $359,000
3. 2026-03-30
   price $369,000
4. 2026-03-17
   price $379,000
5. 2026-03-09
   price $384,999
6. 2026-03-07
   status Active
7. 2026-03-05
   status Pending
8. 2026-02-27
   listed $389,000 Active
9. 2025-06-25
   historical
10. 2025-06-19
    status Active
11. 2025-06-10
    status Pending
12. 2025-05-10
    price $399,000
13. 2025-04-24
    status Active
14. 2025-04-17
    status Pending
15. 2025-03-29
    price $409,900
16. 2025-03-13
    price $427,000
17. 2025-02-20
    price $439,000
18. 2025-02-08
    listed $449,000 Active
19. 2004-06-15
    soldstatus $157,000
20. 2003-07-29
    listed $171,900
21. 2001-08-02
    soldstatus $110,000

ⓘ 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: $2,718 · $227/mo
• Projected year-2 tax: $2,980 · $248/mo
• Expected delta: +$261/yr (+$22/mo · 9.6%)

ⓘ 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 ≥109°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,044
• − Mortgage interest: −$20,110
• − Property taxes: −$2,718
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,204
• − Management: −$3,204
• − Depreciation: −$10,444
• Taxable loss: −$1,429
• Est. tax savings @ 24.0%: +$343
• After-tax cash flow: $4,873/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 — Lake Sarasota

• Score: 72/100
• State rank: #365
• US rank: #6453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Sarasota, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 16,408
• Household income: $116,412
• Rent vs Own: 11.1% rent · 88.9% own
• Severe rent burden: 69.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 7% Slovak 3% Scandinavian 2%
• Foreign-born: 10% · Canada, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -363.72%
• Current HPI: 278.3404
• Rent YoY: ▬ -0.05%
• 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

+226.4% since first listed

21 events — show timeline

• 2026-04-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $359,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $369,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $379,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $384,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $389,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-10 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-04-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-29 Price Changed $409,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-13 Price Changed $427,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-20 Price Changed $439,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-08 Listed $449,000 Stellar MLS as Distributed by MLS Grid
• 2004-06-15 Sold (Public Records) $157,000 Public Records
• 2003-07-29 Listed $171,900 Stellar MLS as Distributed by MLS Grid
• 2001-08-02 Sold (Public Records) $110,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,718 · +119.5% YoY. Source: county tax records.