4805 Rilma Ave #106 · Sarasota, FL 34234

$119,000

2 bd · 1.0 ba · 837 sqft · Condo public records · 7 Days on market

Built 1974 $595/mo HOA · 32% 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 +14.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this fully updated 2-bedroom, 1-bath condo in the quiet Summer Lakes community of Sarasota. Ideally located just 1 mile from Ringling College and Sarasota-Bradenton Airport, and under 2 miles from USF Sarasota, it offers a 10-minute drive to vibrant downtown Sarasota and 15 minutes to Lido Key and St. Armands Circle. The bright, move-in-ready home features granite countertops, stainless steel appliances, wood cabinets, plantation shutters, and no carpet, plus it comes partially furnished. Enjoy the community pool and assigned parking. Priced as one of the most affordable condos in Sarasota, this gem is perfect for owner-occupants or investors seeking quick possession in a prime loc

Key facts

• Partially furnished
• Community pool
• Assigned parking

Tags

• SUMMER LAKES COMMUNITY
• 1 MILE FROM RINGLING COLLEGE
• 15 MINUTES TO LIDO KEY
• COMMUNITY POOL
• ASSIGNED PARKING
• PARTIALLY FURNISHED

Property features AI

Finance

• Other: Partially furnished; Third party listing; Living area 837 square feet
• Financial info: Total monthly fees $595; Total annual fees $7,140; Lease restrictions apply
• HOA & community: HOA managed by ProCare Association Management; Monthly condo fee $595 (includes pool and grounds maintenance); Association approval required; Buyer approval required; Pool as community amenity; Pets allowed with limits (max 50 lbs)

Exterior

• Utilities: Public water; Public sewer; Electricity available; Sewer connected; Water available
• Home design: Residential condominium; Completed condition; One story (unit on floor 1); Faces north
• Construction: Stucco construction; Shingle roof; Slab foundation; Built as part of Building A
• Exterior features: Rear porch; Sidewalk; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stone counters
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Stone counters; Window treatments; Blinds
• Laundry & utility: Laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $21 ($251/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).

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 (-3.1%/yr); 268 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 39% of the median local income ($57k/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 $823 of loan paydown is wiped out by about $4k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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.
• Current owner paid $90k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $119,000

Questions for the listing agent

1. Built in 1974 — 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 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. 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. 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: 1.55% ✓
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 5.4

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: -20.8%
• Equity multiple: 0.31×
• Total profit: $-22,942
• Equity at exit: $17,743

10-year hold

• IRR: -36.1%
• Equity multiple: -0.12×
• Total profit: $-37,476
• Equity at exit: $10,289

Cash invested: $33,320 (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 34234

• Rents YoY: -3.1%
• Active inventory: 268
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,842 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$165 /mo · $1,983/yr
• Insurance: −$50
• HOA: −$595
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $21

Break-even live

Break-even rent $1,815

Max offer price $119,000

Occupancy floor 94%

Sensitivity live

Price	-10% $88	-5% $55	+0% $21	+5% $-13	+10% $-46
Rent	-10% $-125	-5% $-52	+0% $21	+5% $94	+10% $166
Rate	-1.0pp $81	-0.5pp $51	base $21	+0.5pp $-10	+1.0pp $-41

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: $29,750
• Closing costs: $3,570
• 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 32 events

1. 2026-06-18
   days on market $119,000 Active 7 DOM
2. 2026-06-17
   days on market $119,000 Active 6 DOM
3. 2026-06-16
   days on market $119,000 Active 5 DOM
4. 2026-06-15
   days on market $119,000 Active 4 DOM
5. 2026-06-13
   days on market $119,000 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   pricedays on marketlisting id $119,000 Active 1 DOM
8. 2026-06-05
   days on market $118,000 Active 58 DOM
9. 2026-06-03
   days on market $118,000 Active 57 DOM
10. 2026-06-02
    days on market $118,000 Active 56 DOM
11. 2026-06-01
    days on market $118,000 Active 55 DOM
12. 2026-05-31
    days on market $118,000 Active 54 DOM
13. 2026-04-28
    price $118,000 915-char remark
14. 2026-04-07
    price $130,000 915-char remark
15. 2026-04-07
    price $146,000 915-char remark
16. 2026-04-07
    listed $129,900 Active 915-char remark
17. 2025-07-16
    historical
18. 2025-06-21
    listed $156,000 Active
19. 2017-10-31
    soldstatus $89,900
20. 2017-10-27
    soldstatus $89,900 Sold
21. 2017-09-27
    status Pending
22. 2017-09-20
    listed $89,900 Active
23. 2011-12-22
    soldstatus $35,000
24. 2011-12-19
    soldstatus $35,000
25. 2011-10-19
    listed $39,900
26. 2008-02-03
    historical
27. 2008-02-03
    historical
28. 2007-11-13
    listed $129,900
29. 2007-11-13
    listed $129,900
30. 2001-06-20
    soldstatus $45,000
31. 1998-08-03
    soldstatus $35,000
32. 1996-04-05
    soldstatus $26,900

ⓘ 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: $1,983 · $165/mo
• Projected year-2 tax: $1,983 · $165/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 ≥106°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: $22,098
• − Mortgage interest: −$6,666
• − Property taxes: −$1,983
• − Insurance: −$595
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − HOA: −$7,140
• − Depreciation: −$3,462
• Taxable loss: −$1,283
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $559/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

• Census place: Sarasota, FL
• County: Sarasota County · 448,376 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 22,986
• Household income: $57,288
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1306.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 31% Hispanic / Latino 20% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 4% Hispanic 2% Romanian 1%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 17% 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: ▼ -229.06%
• Current HPI: 305.6629
• Rent YoY: ▼ -3.15%
• 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

+342.4% since first listed

22 events — show timeline

• 2026-06-11 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2026-06-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $130,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $146,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-21 Listed $156,000 Stellar MLS as Distributed by MLS Grid
• 2017-10-31 Sold (Public Records) $89,900 Public Records
• 2017-10-27 Sold (MLS) $89,900 Stellar MLS as Distributed by MLS Grid
• 2017-09-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-09-20 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2011-12-22 Sold (Public Records) $35,000 Public Records
• 2011-12-19 Sold (MLS) $35,000 Stellar MLS as Distributed by MLS Grid
• 2011-10-19 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2008-02-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-02-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-11-13 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2007-11-13 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2001-06-20 Sold (Public Records) $45,000 Public Records
• 1998-08-03 Sold (Public Records) $35,000 Public Records
• 1996-04-05 Sold (Public Records) $26,900 Public Records

Property tax history

+17.2%/yr

Latest (2025): $1,983 · +2.1% YoY. Source: county tax records.