5204 Myrtle Wood #2 · The Meadows, FL 34235

$239,000

2 bd · 2.0 ba · 1,064 sqft · Townhouse public records · 79 Days on market

Built 1981 $225/sqft · 16% below area Est $283k · 16% under $670/mo HOA · 32% of rent

---

Why this score? — see what drove the D- 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).

• ARV discount +14.5/15.0
• Schools +5.4/10.0
• Rent growth +4.9/5.0
• Cash flow +4.6/30.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This move-in-ready villa offers effortless Florida is located within The Meadows, an active outdoor lifestyle community. . Steps from one of the community pools, walk to the pool from your Lanai, or sip your morning cup of coffee looking out to the pool. This condo offers both privacy and access to everything that makes The Meadows. The property is partially furnished, including kitchen utensils. The split-bedroom floor plan offers privacy and flexibility, with a private primary The main bedroom has a walk-in shower. The Meadows has a 1,650-acre park-like community with over 14 miles of trails, lakes, and an optional membership to golf, tennis, pickleball, and a fitness center. Just minutes from shopping and dining, downtown Sarasota, and the beaches of Siesta Key and Lido Key. Perfect for that seasonal owner or year-round resident.

Key facts

• Private primary
• Walk-in shower
• Community pools

Tags

• COMMUNITY POOLS
• WALK TO THE POOL
• PRIVATE PRIMARY
• WALK-IN SHOWER
• OVER 14 MILES OF TRAILS
• OPTIONAL MEMBERSHIP TO GOLF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $239k.

Deal economics

• At list price, monthly cash flow is $-603 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (44.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (11.4% below list).
• Recommended offer: $132k (44.6% below list) — sets the bar for cash-flow.

Location & tenants

• 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.
• Market conditions: Rents rising fast (+9.7%/yr); 228 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 32% of the median local income ($79k/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 $2k of loan paydown is wiped out by about $7k 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 79 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $239k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $132,398 (44.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.89% ✗
• Cap rate: 3.26%
• Cash-on-cash: -10.82%
• DSCR: 0.52
• GRM: 9.4

CMA / ARV

• ARV (median comp): $282,872
• List price: $239,000
• Delta: -15.51%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -27.6%
• Equity multiple: 0.02×
• Total profit: $-65,552
• Equity at exit: $35,636

10-year hold

• IRR: -10.2%
• Equity multiple: 0.19×
• Total profit: $-53,932
• Equity at exit: $20,664

Cash invested: $66,920 (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 34235

• Rents YoY: 9.7%
• Active inventory: 228
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,118 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$254 /mo · $3,047/yr
• Insurance: −$100
• HOA: −$670
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-603

Break-even live

Break-even rent $2,882

Max offer price $132,398

Occupancy floor —

Sensitivity live

Price	-10% $-468	-5% $-536	+0% $-603	+5% $-671	+10% $-739
Rent	-10% $-771	-5% $-687	+0% $-603	+5% $-520	+10% $-436
Rate	-1.0pp $-483	-0.5pp $-543	base $-603	+0.5pp $-665	+1.0pp $-728

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $670 · $8,040/yr
• Likely covers: poolgym

Listing history 20 events

1. 2026-06-21
   days on market $239,000 Active 79 DOM
2. 2026-06-18
   days on market $239,000 Active 76 DOM
3. 2026-06-17
   days on market $239,000 Active 75 DOM
4. 2026-06-16
   days on market $239,000 Active 74 DOM
5. 2026-06-15
   days on market $239,000 Active 73 DOM
6. 2026-06-13
   days on market $239,000 Active 71 DOM
7. 2026-06-13
   days on market $239,000 Active 70 DOM
8. 2026-06-10
   days on market $239,000 Active 68 DOM
9. 2026-06-09
   days on market $239,000 Active 67 DOM
10. 2026-06-08
    days on market $239,000 Active 66 DOM
11. 2026-06-08
    days on market $239,000 Active 65 DOM
12. 2026-06-05
    days on market $239,000 Active 62 DOM
13. 2026-06-03
    days on market $239,000 Active 61 DOM
14. 2026-06-02
    days on market $239,000 Active 60 DOM
15. 2026-06-01
    days on market $239,000 Active 59 DOM
16. 2026-05-31
    days on market $239,000 Active 58 DOM
17. 2026-04-03
    listed $239,000 Active 844-char remark

    Show marketing remark (844 chars)

    This move-in-ready villa offers effortless Florida is located within The Meadows, an active outdoor lifestyle community. . Steps from one of the community pools, walk to the pool from your Lanai, or sip your morning cup of coffee looking out to the pool. This condo offers both privacy and access to everything that makes The Meadows. The property is partially furnished, including kitchen utensils. The split-bedroom floor plan offers privacy and flexibility, with a private primary The main bedroom has a walk-in shower. The Meadows has a 1,650-acre park-like community with over 14 miles of trails, lakes, and an optional membership to golf, tennis, pickleball, and a fitness center. Just minutes from shopping and dining, downtown Sarasota, and the beaches of Siesta Key and Lido Key. Perfect for that seasonal owner or year-round resident.

18. 2017-06-06
    soldstatus $120,000
19. 1996-12-09
    soldstatus $80,000
20. 1990-10-04
    soldstatus $69,000

ⓘ 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: $3,047 · $254/mo
• Projected year-2 tax: $3,047 · $254/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 2/10 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: $25,418
• − Mortgage interest: −$13,388
• − Property taxes: −$3,047
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − HOA: −$8,040
• − Depreciation: −$6,953
• Taxable loss: −$11,271
• Est. tax savings @ 24.0%: +$2,705
• After-tax cash flow: $-4,536/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 — The Meadows

• Score: 69/100
• State rank: #465
• US rank: #8393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: The Meadows, FL
• County: Sarasota County · 448,376 people
• City population: 15,114
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 15,146
• Household income: $78,958
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 512.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 22% Two or more races 18% Black 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 5% Slovak 3% Scotch-Irish 2%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -307.37%
• Current HPI: 253.3964
• Rent YoY: ▲ 9.68%
• 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

+246.4% since first listed

4 events — show timeline

• 2026-04-03 Listed $239,000 Stellar MLS as Distributed by MLS Grid
• 2017-06-06 Sold (Public Records) $120,000 Public Records
• 1996-12-09 Sold (Public Records) $80,000 Public Records
• 1990-10-04 Sold (Public Records) $69,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $3,047 · +5.4% YoY. Source: county tax records.