519 Albee Farm Rd #210 · Venice, FL 34285

$94,900

1 bd · 1.0 ba · 703 sqft · Condo public records · 100 Days on market

Built 1974 $386/mo HOA · 23% of rent

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Why this score? — see what drove the B 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 +28.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A perfect tropical retreat! This one bedroom condo, located in a 55+ community, is awaiting your personal touches and is move-in ready! Sold with furnishings. An elevator provides easy access to this second floor unit. Open the sliding doors to the balcony and let in the Florida breezes. Each condo has addition storage and a handy laundry room is located on each floor- at no additional cost to use! Las Palmas offers lots of room and parking for your boat, RV or large truck, very rare for condo parking. There is a large heated pool and a community clubhouse. This complex is very friendly. The location is so close to all kinds of restaurants, shopping, fitness center, barber shop, TJ Max, Aldi and even a nail salon. The Legacy bike trail is right around the corner. Beaches, cultural amenities and quaint Downtown Venice is a short distance. This community is 55+, non-smoking, no pets and you must own 2 years prior to renting.

Key facts

• Balcony
• Laundry room
• Community clubhouse

Tags

• ELEVATOR ACCESS
• BALCONY
• ADDITIONAL STORAGE
• LAUNDRY ROOM
• LARGE HEATED POOL
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#129 in FL, #1,925 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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 rising fast (+8.8%/yr); 468 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $95k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: moderate flood risk; 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 $86,359 (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 1974 — 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 A-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: 1.77% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.19%
• DSCR: 1.63
• GRM: 4.7

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: 12.0%
• Equity multiple: 1.52×
• Total profit: $13,728
• Equity at exit: $14,150

10-year hold

• IRR: 25.7%
• Equity multiple: 3.97×
• Total profit: $79,008
• Equity at exit: $8,205

Cash invested: $26,572 (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 34285

• Rents YoY: 8.8%
• Active inventory: 468
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$86 /mo · $1,038/yr
• Insurance: −$40
• HOA: −$386
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $314

Break-even live

Break-even rent $1,278

Max offer price $94,900

Occupancy floor 76%

Sensitivity live

Price	-10% $368	-5% $341	+0% $314	+5% $287	+10% $260
Rent	-10% $182	-5% $248	+0% $314	+5% $380	+10% $447
Rate	-1.0pp $362	-0.5pp $338	base $314	+0.5pp $290	+1.0pp $265

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $386 · $4,632/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $94,900 Active 100 DOM
2. 2026-06-18
   days on market $94,900 Active 97 DOM
3. 2026-06-17
   days on market $94,900 Active 96 DOM
4. 2026-06-16
   days on market $94,900 Active 95 DOM
5. 2026-06-15
   days on market $94,900 Active 94 DOM
6. 2026-06-13
   days on market $94,900 Active 92 DOM
7. 2026-06-13
   days on market $94,900 Active 91 DOM
8. 2026-06-10
   days on market $94,900 Active 89 DOM
9. 2026-06-09
   days on market $94,900 Active 88 DOM
10. 2026-06-08
    days on market $94,900 Active 87 DOM
11. 2026-06-08
    days on market $94,900 Active 86 DOM
12. 2026-06-05
    days on market $94,900 Active 83 DOM
13. 2026-06-03
    days on market $94,900 Active 82 DOM
14. 2026-06-02
    days on market $94,900 Active 81 DOM
15. 2026-06-01
    days on market $94,900 Active 80 DOM
16. 2026-05-31
    days on market $94,900 Active 79 DOM
17. 2026-05-19
    price $94,900 936-char remark

    Show marketing remark (936 chars)

    A perfect tropical retreat! This one bedroom condo, located in a 55+ community, is awaiting your personal touches and is move-in ready! Sold with furnishings. An elevator provides easy access to this second floor unit. Open the sliding doors to the balcony and let in the Florida breezes. Each condo has addition storage and a handy laundry room is located on each floor- at no additional cost to use! Las Palmas offers lots of room and parking for your boat, RV or large truck, very rare for condo parking. There is a large heated pool and a community clubhouse. This complex is very friendly. The location is so close to all kinds of restaurants, shopping, fitness center, barber shop, TJ Max, Aldi and even a nail salon. The Legacy bike trail is right around the corner. Beaches, cultural amenities and quaint Downtown Venice is a short distance. This community is 55+, non-smoking, no pets and you must own 2 years prior to renting.

18. 2026-03-13
    listed $99,900 Active 936-char remark

    Show marketing remark (936 chars)

    A perfect tropical retreat! This one bedroom condo, located in a 55+ community, is awaiting your personal touches and is move-in ready! Sold with furnishings. An elevator provides easy access to this second floor unit. Open the sliding doors to the balcony and let in the Florida breezes. Each condo has addition storage and a handy laundry room is located on each floor- at no additional cost to use! Las Palmas offers lots of room and parking for your boat, RV or large truck, very rare for condo parking. There is a large heated pool and a community clubhouse. This complex is very friendly. The location is so close to all kinds of restaurants, shopping, fitness center, barber shop, TJ Max, Aldi and even a nail salon. The Legacy bike trail is right around the corner. Beaches, cultural amenities and quaint Downtown Venice is a short distance. This community is 55+, non-smoking, no pets and you must own 2 years prior to renting.

19. 2009-06-26
    historical
20. 2008-04-26
    listed $62,900
21. 2007-01-26
    listed $126,000
22. 2007-01-12
    listed $126,000
23. 2007-01-12
    listed $126,000
24. 2007-01-12
    listed $126,000
25. 2005-11-15
    listed $149,900
26. 1986-02-01
    soldstatus $42,000
27. 1980-04-01
    soldstatus $38,000

ⓘ 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: $1,038 · $86/mo
• Projected year-2 tax: $1,038 · $86/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 5/10 Major FEMA zone X (unshaded) · 50% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $20,108
• − Mortgage interest: −$5,316
• − Property taxes: −$1,038
• − Insurance: −$474
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − HOA: −$4,632
• − Depreciation: −$2,761
• Taxable income: $2,670
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $3,129/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 — Venice

• Score: 80/100
• State rank: #129
• US rank: #1925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Venice, FL
• County: Sarasota County · 448,376 people
• City population: 86,541
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 18,677
• Household income: $68,301
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 747.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 5% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% German/W. Germanic 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: ▼ -329.42%
• Current HPI: 264.6389
• Rent YoY: ▲ 8.78%
• 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

+149.7% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $94,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2009-06-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-04-26 Listed $62,900 Stellar MLS as Distributed by MLS Grid
• 2007-01-26 Listed $126,000 Stellar MLS as Distributed by MLS Grid
• 2007-01-12 Listed $126,000 Stellar MLS as Distributed by MLS Grid
• 2007-01-12 Listed $126,000 Stellar MLS as Distributed by MLS Grid
• 2007-01-12 Listed $126,000 Stellar MLS as Distributed by MLS Grid
• 2005-11-15 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 1986-02-01 Sold (Public Records) $42,000 Public Records
• 1980-04-01 Sold (Public Records) $38,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,038 · -9.7% YoY. Source: county tax records.