1727 Bonitas Cirs Unit 1718-C · Venice Gardens, FL 34293

$215,000

2 bd · 2.0 ba · 1,186 sqft · Condo public records · 55 Days on market

Built 1980 $550/mo HOA · 24% of rent

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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).

• Cash flow +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.4/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated and meticulously maintained second-floor condo in the desirable 55+ community of Villa Nova. Ideally located just minutes from shopping, dining, and I-75, with Venice’s historic downtown only 4 miles away and the stunning Gulf beaches just 6 miles from your doorstep. This move-in ready home features an open floor plan with luxury vinyl flooring, granite countertops, and updated ceiling fans throughout. The spacious, screened-in lanai provides the perfect place to relax and enjoy the Florida breeze. Convenient in-unit laundry adds to the comfort and functionality. The community has recently installed new roofs and offers fantastic amenities, including a clubhouse, h

Key facts

• Open floor plan
• New roofs
• In unit laundry

Tags

• OPEN FLOOR PLAN
• LUXURY VINYL FLOORING
• GRANITE COUNTERTOPS
• SCREENED IN LANAI
• IN UNIT LAUNDRY
• NEW ROOFS

Property features AI

Finance

• Other: Furnished: negotiable
• Financial info: Total annual fees $6,600; Lease restrictions apply
• HOA & community: Monthly HOA fee of $550; HOA includes cable TV, common area taxes, pool, escrow reserves fund, grounds maintenance, and pest control; Association approval required; Association: SUNSTATE MANAGEMENT / SEAN NOONAN; Community features: clubhouse, community mailbox, fitness center, pool, street lights, deed restrictions, reclaimed irrigation; Buyer approval required; No pets allowed; Senior community

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Residential property; Second-floor unit; Faces south; One level (in unit); 2 total stories in building
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building number 1727
• Exterior features: Balcony; Private mailbox; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen/family room combo; Open floorplan; Thermostat; Walk-in closet(s)
• Laundry & utility: Laundry room inside; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-52 ($-619/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (4.2% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $206k (4.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#537 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.
• Zoned schools: Garden Elementary School (math 71% / reading 69%, grade A-, #345 of 2,144 statewide, top 17%, 513 students, 52% FRL); Venice Middle School (math 71% / reading 58%, grade A-, #100 of 571 statewide, top 18%, 761 students, 37% FRL); Venice Senior High School (math 67% / reading 61%, grade B-, #86 of 667 statewide, top 13%, 2,584 students, 31% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents flat; 1255 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 30% of the median local income ($90k/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 55 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $205,881 (4.2% 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 55 days. Have you received any prior offers? Is the seller open to a 4% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.06% ✓
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.29×
• Total profit: $-43,024
• Equity at exit: $32,057

10-year hold

• IRR: -22.9%
• Equity multiple: -0.01×
• Total profit: $-60,847
• Equity at exit: $18,589

Cash invested: $60,200 (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 34293

• Rents YoY: 0.7%
• Active inventory: 1255
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,279 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$85 /mo · $1,020/yr
• Insurance: −$90
• HOA: −$550
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $-52

Break-even live

Break-even rent $2,344

Max offer price $205,881

Occupancy floor 97%

Sensitivity live

Price	-10% $70	-5% $9	+0% $-52	+5% $-112	+10% $-173
Rent	-10% $-232	-5% $-142	+0% $-52	+5% $38	+10% $128
Rate	-1.0pp $57	-0.5pp $3	base $-52	+0.5pp $-107	+1.0pp $-164

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $215,000 Active 55 DOM
2. 2026-06-18
   days on market $215,000 Active 52 DOM
3. 2026-06-17
   days on market $215,000 Active 51 DOM
4. 2026-06-16
   days on market $215,000 Active 50 DOM
5. 2026-06-15
   days on market $215,000 Active 49 DOM
6. 2026-06-13
   days on market $215,000 Active 47 DOM
7. 2026-06-13
   days on market $215,000 Active 46 DOM
8. 2026-06-10
   days on market $215,000 Active 44 DOM
9. 2026-06-09
   days on market $215,000 Active 43 DOM
10. 2026-06-08
    days on market $215,000 Active 42 DOM
11. 2026-06-08
    days on market $215,000 Active 41 DOM
12. 2026-06-05
    days on market $215,000 Active 38 DOM
13. 2026-06-03
    days on market $215,000 Active 37 DOM
14. 2026-06-02
    days on market $215,000 Active 36 DOM
15. 2026-06-01
    days on market $215,000 Active 35 DOM
16. 2026-05-31
    days on market $215,000 Active 34 DOM
17. 2026-04-27
    listed $215,000 Active 924-char remark
18. 2025-12-23
    soldstatus $200,000
19. 2005-04-27
    soldstatus $171,000

ⓘ 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: $1,020 · $85/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$765/yr (+$64/mo · 75.0%)

ⓘ 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 · 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: $27,348
• − Mortgage interest: −$12,043
• − Property taxes: −$1,020
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,188
• − Management: −$2,188
• − HOA: −$6,600
• − Depreciation: −$6,255
• Taxable loss: −$4,020
• Est. tax savings @ 24.0%: +$965
• After-tax cash flow: $345/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 Gardens

• Score: 68/100
• State rank: #537
• US rank: #10074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 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: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• 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

+25.7% since first listed

3 events — show timeline

• 2026-04-27 Listed $215,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-23 Sold (Public Records) $200,000 Public Records
• 2005-04-27 Sold (Public Records) $171,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,020 · +5.2% YoY. Source: county tax records.