1674 University Pkwy #140 · Sarasota, FL 34243

$190,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 89 Days on market

Built 1997 2,100 sqft lot $295/mo HOA · 13% 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 +19.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +6.2/10.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sarasota Lakes RV is an oasis of resort style living!! The gated community has swimming, tennis, shuffle board, pickle ball and a playground. This corner lot can be used for personal use or rental. Lot has a rare 2 bedroom 2 bathroom park model manufactured home with addition. Fully furnished with washer and dryer On site management. Perfect location in Sarasota! Close to beaches and close to St. Armand Circle.

Key facts

• Gated community
• Tennis
• Pickle ball

Tags

• GATED COMMUNITY
• SWIMMING
• TENNIS
• SHUFFLE BOARD
• PICKLE BALL
• PLAYGROUND

Property features AI

Finance

• Other: No home warranty; Lease restrictions not indicated
• Financial info: Total monthly fees reported as $295; total annual fees $3,540
• HOA & community: Monthly association fee of $295 (association approval required); Association contact listed; Pets allowed with breed restrictions; cats and dogs OK

Exterior

• Parking: No specific parking details provided
• Security: No security features listed
• Utilities: Public water; Public sewer; BB/HS internet available; Electric service (electric water heater noted)
• Home design: Manufactured double-wide home; Single-story; Northeast facing entry
• Construction: Vinyl siding; Metal roof; Slab foundation; Built as a manufactured home (double wide)
• Exterior features: Storage; Asphalt road access; Lot dimensions approximately 30 x 70

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; 1000 sq ft living area (owner provided)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: Washer; Dryer; Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime 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 falling (-4.1%/yr); 386 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 34% of the median local income ($81k/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 $6k 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 89 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• GRM: 6.9

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: -12.7%
• Equity multiple: 0.56×
• Total profit: $-23,553
• Equity at exit: $28,330

10-year hold

• IRR: -10.3%
• Equity multiple: 0.47×
• Total profit: $-28,035
• Equity at exit: $16,428

Cash invested: $53,200 (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 34243

• Home prices YoY: -23.0%
• Rents YoY: -4.1%
• Active inventory: 386
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,310 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$295
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $216

Break-even live

Break-even rent $2,036

Max offer price $190,000

Occupancy floor 86%

Sensitivity live

Price	-10% $348	-5% $282	+0% $216	+5% $151	+10% $85
Rent	-10% $34	-5% $125	+0% $216	+5% $308	+10% $399
Rate	-1.0pp $312	-0.5pp $265	base $216	+0.5pp $167	+1.0pp $117

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Telluride Loop Sarasota, FL	1.0–3.0	1.0–2.0	1060	$2,270	$2.14	2d	20	0.67mi
2351 University Pkwy Sarasota, FL	1.0–3.0	1.0–2.0	1046	$2,480	$2.37	2d	24	0.92mi
3112 Oriole Dr Sarasota, FL	2.0	2.0	1397	$1,995	$1.43	16d	1	0.93mi
2575 University Pkwy Sarasota, FL	1.0–3.0	1.0–2.0	1026	$2,318	$2.26	2d	25	1.17mi
8310 Bella Grove Cir Sarasota, FL	1.0–2.0	1.0–2.0	897	$1,891	$2.11	2d	13	1.18mi
8377 38th Street Cir E Sarasota, FL	1.0	1.0	900	$1,994	$2.22	16d	2	1.33mi
8357 38th Street Cir E #104 Sarasota, FL	2.0	2.0	1080	$4,400	$4.07	24d	1	1.33mi
7803 33rd St E Sarasota, FL	2.0	2.0	1463	$2,550	$1.74	24d	1	1.37mi
8341 38th Street Cir E Unit 200 Sarasota, FL	1.0	1.0	900	$1,997	$2.22	16d	1	1.39mi

HOA detail

• Monthly dues: $295 · $3,540/yr
• Likely covers: security

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-01-31
   listed $190,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 29 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: $27,714
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,217
• − Management: −$2,217
• − HOA: −$3,540
• − Depreciation: −$5,527
• Taxable loss: −$230
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $2,653/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 — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 32,773
• Household income: $81,219
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1138.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 11% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 8% Russian/Polish/Slavic 3% Other Indo-European 3%

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: ▼ -83.67%
• Current HPI: 280.5372
• Rent YoY: ▼ -4.14%
• 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

2 events — show timeline

• 2026-04-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Listed $190,000 Stellar MLS as Distributed by MLS Grid