5001 Baraldi Cir Unit 22-211

The Meadows, FL 34235

$265,000D

3 bd · 3.0 ba · 1,359 sqft · Built 2002 · Condo · Active · 237 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,454/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$361
• HOA: −$694
• Vac / Maint / Mgmt: −$515
• Net cashflow: $-506/mo
• Annual: $-6,074/yr
• Cap rate: 4.00%
• Cash-on-cash: -8.19%
• DSCR: 0.64
• 1% rule: 0.93%
• Cash to close: $74,200

Investor read

• This is a 3-bed/3.0-bath condo listed at $265k.
• At list price, monthly cash flow is $-506 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (33.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (7.4% below list).
• It's been on market 237 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (33.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#465 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing 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: Emma E. Booker Elementary School (math 35% / reading 32%, grade F, #1,758 of 2,144 statewide, top 83%, 468 students, 93% FRL); Booker Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 950 students, 76% FRL); Booker High School (math 26% / reading 43%, grade F, #386 of 667 statewide, top 59%, 1,309 students, 68% FRL) — zoned schools average 79% FRL vs 42% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 63% district-wide (-26 pts) — the specific schools serving this property underperform the Sarasota average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents rising fast (+9.7%/yr); 228 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 37% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 237 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.