4035 S School Ave Unit B3 · South Sarasota, FL 34231

$86,000

1 bd · 1.0 ba · 561 sqft · Condo public records · 25 Days on market

Built 1972 $595/mo HOA · 36% 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 +18.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +5.4/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

Key facts

• Community pool
• Pool view
• Assigned parking

Tags

• POOL VIEW
• COMMUNITY POOL
• ASSIGNED PARKING
• COMMUNITY LAUNDRY ROOM
• NO WAITING PERIOD TO LEASE

Property features AI

Finance

• Other: Unit is unfurnished
• Financial info: Total annual association fees approximately $7,140; Lease restrictions apply
• HOA & community: Monthly condo/association fee of $595; Association fees cover cable TV, internet, pool, escrow reserves, structure and grounds maintenance, management, pest control, sewer, trash and water; Buyer/association approval required; Full-time management; Community features include pool and community mailbox; no truck/RV/motorcycle parking; Cats allowed

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; High-speed internet/BB available; Sewer connected; Water connected
• Home design: Residential condominium; Completed condition; One level (unit on first floor); Faces south
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building B, unit B-3
• Exterior features: Community lighting; Sliding doors; Other exterior features; In-ground pool with outside bath access; Cabana and additional community structures; Mature landscaping; Paved, public maintained road access

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom (first floor)
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floor plan; Kitchen/family room combo; Thermostat; Walk-in closet(s); Blinds and drapes
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $86k.

Deal economics

• At list price, monthly cash flow is $77 ($922/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $85k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#278 in FL, #4,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, cost of living 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: Phillippi Shores Elementary School (math 77% / reading 79%, grade A, #149 of 2,144 statewide, top 8%, 731 students, 38% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Market conditions: Rents soft (-2.1%/yr); 562 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 $595 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• 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 $84,710 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.94% ✓
• Cap rate: 7.36%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• GRM: 4.3

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: -16.7%
• Equity multiple: 0.44×
• Total profit: $-13,510
• Equity at exit: $12,823

10-year hold

• IRR: -29.0%
• Equity multiple: 0.06×
• Total profit: $-22,640
• Equity at exit: $7,436

Cash invested: $24,080 (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 34231

• Rents YoY: -2.1%
• Active inventory: 562
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$159 /mo · $1,909/yr
• Insurance: −$36
• HOA: −$595
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $77

Break-even live

Break-even rent $1,571

Max offer price $86,000

Occupancy floor 90%

Sensitivity live

Price	-10% $125	-5% $101	+0% $77	+5% $52	+10% $28
Rent	-10% $-55	-5% $11	+0% $77	+5% $143	+10% $209
Rate	-1.0pp $120	-0.5pp $99	base $77	+0.5pp $55	+1.0pp $32

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 47 events

1. 2026-06-16
   status $86,000 Pending 25 DOM
2. 2026-06-15
   days on market $86,000 Active 25 DOM
3. 2026-06-13
   days on market $86,000 Active 23 DOM
4. 2026-06-13
   days on market $86,000 Active 22 DOM
5. 2026-06-10
   days on market $86,000 Active 20 DOM
6. 2026-06-09
   days on market $86,000 Active 19 DOM
7. 2026-06-08
   days on market $86,000 Active 18 DOM
8. 2026-06-08
   pricedays on market $86,000 Active 17 DOM
9. 2026-06-05
   days on market $90,000 Active 14 DOM
10. 2026-06-03
    days on market $90,000 Active 13 DOM
11. 2026-06-02
    days on market $90,000 Active 12 DOM
12. 2026-06-01
    days on market $90,000 Active 11 DOM
13. 2026-05-31
    days on market $90,000 Active 10 DOM
14. 2026-05-21
    listed $90,000 Active
15. 2026-05-11
    historical
16. 2026-05-06
    price $91,900
17. 2026-04-23
    price $92,900
18. 2026-04-06
    price $93,900
19. 2026-03-26
    price $95,900
20. 2026-02-21
    price $99,500
21. 2026-02-14
    status Active
22. 2026-02-14
    price $110,000
23. 2026-01-14
    status Pending
24. 2026-01-09
    listed $99,500 Active
25. 2025-10-06
    soldstatus $86,000 Closed 388-char remark

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

26. 2025-10-06
    soldstatus $86,000

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

27. 2025-09-25
    status Pending 388-char remark

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

28. 2025-09-25
    price $99,000 388-char remark

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

29. 2025-09-19
    price $114,900 388-char remark

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

30. 2025-09-04
    listed $124,900 Active 388-char remark

    Show marketing remark (388 chars)

    Centrally located to all that Sarasota has to offer. Minutes to Siesta Key, Trader Joes, Bath and Racquet, Sarasota Memorial Hospital, and downtown. First floor, 1/1 with tile throughout, and a pool view for under $100k. Assigned parking space and plenty of guest parking avail. Agent is owner. No waiting to lease out, 6 month min lease, no dogs, cats OK. Clean, fresh and move in ready!

31. 2021-04-19
    soldstatus $85,000 Closed
32. 2021-04-16
    soldstatus $84,900
33. 2021-03-23
    status Pending
34. 2021-03-20
    status Pending
35. 2021-02-28
    price $84,900
36. 2021-02-22
    status Active
37. 2021-02-17
    status Pending
38. 2021-01-26
    price $89,900
39. 2021-01-11
    listed $95,000 Active
40. 2015-02-20
    soldstatus $55,000
41. 2015-02-17
    soldstatus $55,000 Sold
42. 2015-01-21
    status Pending
43. 2014-12-12
    price $62,900
44. 2014-10-08
    price $67,999
45. 2014-08-20
    listed $75,000 Active
46. 2003-09-18
    soldstatus $75,000
47. 1997-05-01
    soldstatus $37,500

ⓘ 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: $1,909 · $159/mo
• Projected year-2 tax: $1,909 · $159/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 · 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: $20,015
• − Mortgage interest: −$4,817
• − Property taxes: −$1,909
• − Insurance: −$430
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$7,140
• − Depreciation: −$2,502
• Taxable income: $15
• Est. tax owed @ 24.0%: −$4
• After-tax cash flow: $918/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 Sarasota

• Score: 74/100
• State rank: #278
• US rank: #4455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Sarasota, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 32,404
• Household income: $69,925
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1983.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Russian/Polish/Slavic 2% German/W. Germanic 1%

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: ▼ -448.92%
• Current HPI: 292.9055
• Rent YoY: ▼ -2.13%
• 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

+140.0% since first listed

34 events — show timeline

• 2026-05-21 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $91,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $92,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $93,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $95,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $99,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Listed $99,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-06 Sold (Public Records) $86,000 Public Records
• 2025-10-06 Sold (MLS) $86,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-25 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-19 Price Changed $114,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-04 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 2021-04-19 Sold (MLS) $85,000 Stellar MLS as Distributed by MLS Grid
• 2021-04-16 Sold (Public Records) $84,900 Public Records
• 2021-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-02-28 Price Changed $84,900 Stellar MLS as Distributed by MLS Grid
• 2021-02-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-02-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-01-26 Price Changed $89,900 Stellar MLS as Distributed by MLS Grid
• 2021-01-11 Listed $95,000 Stellar MLS as Distributed by MLS Grid
• 2015-02-20 Sold (Public Records) $55,000 Public Records
• 2015-02-17 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2015-01-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-12-12 Price Changed $62,900 Stellar MLS as Distributed by MLS Grid
• 2014-10-08 Price Changed $67,999 Stellar MLS as Distributed by MLS Grid
• 2014-08-20 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2003-09-18 Sold (Public Records) $75,000 Public Records
• 1997-05-01 Sold (Public Records) $37,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,909 · +10.5% YoY. Source: county tax records.