3983 Maceachen Blvd #424 · South Gate Ridge, FL 34233

$164,900

3 bd · 2.0 ba · 1,270 sqft · Condo public records · 100 Days on market

Built 1978 $615/mo HOA · 25% of rent

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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 +20.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright, spacious, and ideally located in the heart of Sarasota! This well-maintained 3-bedroom, 2-bath condo in a desirable 55+ community offers a flexible floor plan filled with natural light throughout the day. One of the standout features is the exceptionally large 20’ x 12’ third bedroom, perfect as a den, hobby room, media room, or additional living space. The kitchen features granite countertops, abundant cabinetry, and a pantry, providing excellent storage and functionality. Pocket doors to the guest bedroom and bath create privacy for visiting family and friends. Enjoy sunny mornings or relaxing afternoons on the south-facing screened lanai, bringing wonderful light into the home throughout the day. This condo is offered fully furnished and includes a covered carport parking space. The air conditioning system was replaced just two years ago, offering added peace of mind. The $615 monthly fee includes water, sewer, trash, cable TV, and internet, making it easy to enjoy a low maintenance Florida lifestyle. Residents enjoy a community pool and clubhouse with kitchen, and one of the most unique features of this location is the rare walkability — you can easily stroll to Publix, Walmart, HomeGoods, banks, restaurants, and more. Located mid-Sarasota just minutes to downtown, UTC, and the Gulf beaches, this is a great opportunity to own an affordable 3-bedroom home in a highly convenient location, perfect for year-round living or a seasonal Florida retreat. Opportunities like this — a 3-bedroom condo in Sarasota at this price point — are rarely available. 55+ community. No pets and no rentals permitted. Laundry room conveniently located just down the hall, with potential for in-unit washer and dryer installation

Key facts

• Large third bedroom
• Community pool
• Rare walkability

Tags

• LARGE THIRD BEDROOM
• GRANITE COUNTERTOPS
• SOUTH-FACING SCREENED LANAI
• COMMUNITY POOL
• CLUBHOUSE WITH KITCHEN
• RARE WALKABILITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#394 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: 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 (-1.4%/yr); 159 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 39% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $5k 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 100 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $165k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.50% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 5.6

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: -12.1%
• Equity multiple: 0.58×
• Total profit: $-19,383
• Equity at exit: $24,587

10-year hold

• IRR: -11.2%
• Equity multiple: 0.46×
• Total profit: $-25,004
• Equity at exit: $14,258

Cash invested: $46,172 (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 34233

• Rents YoY: -1.4%
• Active inventory: 159
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,475 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$184 /mo · $2,204/yr
• Insurance: −$69
• HOA: −$615
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $223

Break-even live

Break-even rent $2,193

Max offer price $164,900

Occupancy floor 86%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $615 · $7,380/yr
• Likely covers: watersewertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $164,900 Active 100 DOM
2. 2026-06-17
   days on market $164,900 Active 99 DOM
3. 2026-06-16
   days on market $164,900 Active 98 DOM
4. 2026-06-15
   days on market $164,900 Active 97 DOM
5. 2026-06-13
   days on market $164,900 Active 95 DOM
6. 2026-06-13
   days on market $164,900 Active 94 DOM
7. 2026-06-10
   days on market $164,900 Active 92 DOM
8. 2026-06-09
   days on market $164,900 Active 91 DOM
9. 2026-06-08
   days on market $164,900 Active 90 DOM
10. 2026-06-08
    days on market $164,900 Active 89 DOM
11. 2026-06-05
    days on market $164,900 Active 86 DOM
12. 2026-06-03
    days on market $164,900 Active 85 DOM
13. 2026-06-02
    days on market $164,900 Active 84 DOM
14. 2026-06-01
    days on market $164,900 Active 83 DOM
15. 2026-05-31
    days on market $164,900 Active 82 DOM
16. 2026-04-16
    price $164,900 1772-char remark

    Show marketing remark (1772 chars)

    Bright, spacious, and ideally located in the heart of Sarasota! This well-maintained 3-bedroom, 2-bath condo in a desirable 55+ community offers a flexible floor plan filled with natural light throughout the day. One of the standout features is the exceptionally large 20’ x 12’ third bedroom, perfect as a den, hobby room, media room, or additional living space. The kitchen features granite countertops, abundant cabinetry, and a pantry, providing excellent storage and functionality. Pocket doors to the guest bedroom and bath create privacy for visiting family and friends. Enjoy sunny mornings or relaxing afternoons on the south-facing screened lanai, bringing wonderful light into the home throughout the day. This condo is offered fully furnished and includes a covered carport parking space. The air conditioning system was replaced just two years ago, offering added peace of mind. The $615 monthly fee includes water, sewer, trash, cable TV, and internet, making it easy to enjoy a low maintenance Florida lifestyle. Residents enjoy a community pool and clubhouse with kitchen, and one of the most unique features of this location is the rare walkability — you can easily stroll to Publix, Walmart, HomeGoods, banks, restaurants, and more. Located mid-Sarasota just minutes to downtown, UTC, and the Gulf beaches, this is a great opportunity to own an affordable 3-bedroom home in a highly convenient location, perfect for year-round living or a seasonal Florida retreat. Opportunities like this — a 3-bedroom condo in Sarasota at this price point — are rarely available. 55+ community. No pets and no rentals permitted. Laundry room conveniently located just down the hall, with potential for in-unit washer and dryer installation

17. 2026-03-10
    listed $169,000 Active 1772-char remark

    Show marketing remark (1772 chars)

    Bright, spacious, and ideally located in the heart of Sarasota! This well-maintained 3-bedroom, 2-bath condo in a desirable 55+ community offers a flexible floor plan filled with natural light throughout the day. One of the standout features is the exceptionally large 20’ x 12’ third bedroom, perfect as a den, hobby room, media room, or additional living space. The kitchen features granite countertops, abundant cabinetry, and a pantry, providing excellent storage and functionality. Pocket doors to the guest bedroom and bath create privacy for visiting family and friends. Enjoy sunny mornings or relaxing afternoons on the south-facing screened lanai, bringing wonderful light into the home throughout the day. This condo is offered fully furnished and includes a covered carport parking space. The air conditioning system was replaced just two years ago, offering added peace of mind. The $615 monthly fee includes water, sewer, trash, cable TV, and internet, making it easy to enjoy a low maintenance Florida lifestyle. Residents enjoy a community pool and clubhouse with kitchen, and one of the most unique features of this location is the rare walkability — you can easily stroll to Publix, Walmart, HomeGoods, banks, restaurants, and more. Located mid-Sarasota just minutes to downtown, UTC, and the Gulf beaches, this is a great opportunity to own an affordable 3-bedroom home in a highly convenient location, perfect for year-round living or a seasonal Florida retreat. Opportunities like this — a 3-bedroom condo in Sarasota at this price point — are rarely available. 55+ community. No pets and no rentals permitted. Laundry room conveniently located just down the hall, with potential for in-unit washer and dryer installation

18. 1995-02-10
    soldstatus $65,500
19. 1993-01-19
    soldstatus $45,000

ⓘ 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: $2,204 · $184/mo
• Projected year-2 tax: $2,204 · $184/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 · 30 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: $29,694
• − Mortgage interest: −$9,237
• − Property taxes: −$2,204
• − Insurance: −$824
• − Repairs & maintenance: −$2,376
• − Management: −$2,376
• − HOA: −$7,380
• − Depreciation: −$4,797
• Taxable income: $501
• Est. tax owed @ 24.0%: −$120
• After-tax cash flow: $2,553/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 Gate Ridge

• Score: 71/100
• State rank: #394
• US rank: #6987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Gate Ridge, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,123
• Household income: $75,394
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 653.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 2% 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: ▼ -281.79%
• Current HPI: 258.6836
• Rent YoY: ▼ -1.35%
• 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

+266.4% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $164,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 1995-02-10 Sold (Public Records) $65,500 Public Records
• 1993-01-19 Sold (Public Records) $45,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $2,204 · +0.2% YoY. Source: county tax records.