503 N Osprey Ave · Sarasota, FL 34236

$1,199,999

30 bd · 25.0 ba · 2,958 sqft · MultiFamily · 190 Days on market

Built 1949 Good condition 10,009 sqft lot ↓ 8% since listing

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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 +13.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +1.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

FIVE UNIT APARTMENT COMPLEX. DTN zoned corner lot in downtown Sarasota. Fully rented month to month annual agreements paying below market value. City zoning allows weekly rentals. Purchase and earn rental income OR develop in DTN zoning. Common area laundry as an amenity for tenants. Bldg #1 has 2 units, each are 1 bedroom/1 bath. Bldg 2 has 2 units, each are 2 bedroom/1 bath. Bldg #3 is the cottage/studio. This property is in fast growing downtown Sarasota a few blocks to Main Street with downtown restaurants, shops and bars. 2 blocks from Sarasota City park with tennis courts, playground and dog park all situated around a lake! Many multimillion dollar homes and deluxe condo developments in and surrounding Gillespie Park. Close to beaches and beautiful Sarasota Bay. Investment property with huge income potential and huge future DTN development. Seller is offering owner/seller financing to prospective buyers. 60% minimum down payment requirement. All financing terms are extremely attractive. Minimum balloon options will be considered. Seller will not go into 2nd position as lender.

Key facts

• Dtn zoned corner lot
• Common area laundry
• Investment property

Tags

• DTN ZONED CORNER LOT
• COMMON AREA LAUNDRY
• WEEKLY RENTALS ALLOWED
• CLOSE TO BEACHES
• NEAR SARASOTA CITY PARK
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 2×2bd/1ba units multifamily listed at $1.20M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive. Per door: $26/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (11.2% below list).
• Recommended offer: $1.06M (12.0% 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 (-5.1%/yr); 731 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $10,660/mo this rent would consume 133% of the median local household income ($96k/yr) (locally 927% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $31k of equity ($8k loan paydown + $23k appreciation (1.9% local appreciation)).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.9% appreciation + 0.0% rent growth), your $336k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$80k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,055,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.92% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.16×
• Total profit: $54,265
• Equity at exit: $467,874

10-year hold

• IRR: 5.4%
• Equity multiple: 1.69×
• Total profit: $233,085
• Equity at exit: $669,593

Cash invested: $336,000 (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 34236

• Home prices YoY: 0.6%
• Rents YoY: -5.1%
• Active inventory: 731
• Price-to-rent: 49.0×

Monthly cashflow live

• Estimated rent: $10,660 medium
• Mortgage (P&I): −$6,293
• Tax est. 1.5%: −$1,500 /mo · $18,000/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,239
• Net cashflow: $128

Break-even live

Break-even rent $10,497

Max offer price $1,199,999

Occupancy floor 94%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,123
▸ 2× units	2	1	$4,538
Total (5 units)			$10,660

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,199,999 Active 190 DOM
2. 2026-06-17
   days on market $1,199,999 Active 189 DOM
3. 2026-06-16
   days on market $1,199,999 Active 188 DOM
4. 2026-06-15
   days on market $1,199,999 Active 187 DOM
5. 2026-06-13
   days on market $1,199,999 Active 185 DOM
6. 2026-06-13
   days on market $1,199,999 Active 184 DOM
7. 2026-06-10
   days on market $1,199,999 Active 182 DOM
8. 2026-06-09
   days on market $1,199,999 Active 181 DOM
9. 2026-06-08
   days on market $1,199,999 Active 179 DOM
10. 2026-06-05
    days on market $1,199,999 Active 176 DOM
11. 2026-06-03
    days on market $1,199,999 Active 175 DOM
12. 2026-06-02
    days on market $1,199,999 Active 174 DOM
13. 2026-06-01
    days on market $1,199,999 Active 173 DOM
14. 2026-05-31
    days on market $1,199,999 Active 172 DOM
15. 2026-01-30
    price $1,199,999 1100-char remark

    Show marketing remark (1100 chars)

    FIVE UNIT APARTMENT COMPLEX. DTN zoned corner lot in downtown Sarasota. Fully rented month to month annual agreements paying below market value. City zoning allows weekly rentals. Purchase and earn rental income OR develop in DTN zoning. Common area laundry as an amenity for tenants. Bldg #1 has 2 units, each are 1 bedroom/1 bath. Bldg 2 has 2 units, each are 2 bedroom/1 bath. Bldg #3 is the cottage/studio. This property is in fast growing downtown Sarasota a few blocks to Main Street with downtown restaurants, shops and bars. 2 blocks from Sarasota City park with tennis courts, playground and dog park all situated around a lake! Many multimillion dollar homes and deluxe condo developments in and surrounding Gillespie Park. Close to beaches and beautiful Sarasota Bay. Investment property with huge income potential and huge future DTN development. Seller is offering owner/seller financing to prospective buyers. 60% minimum down payment requirement. All financing terms are extremely attractive. Minimum balloon options will be considered. Seller will not go into 2nd position as lender.

16. 2025-12-10
    listed $1,299,999 Active 1100-char remark

    Show marketing remark (1100 chars)

    FIVE UNIT APARTMENT COMPLEX. DTN zoned corner lot in downtown Sarasota. Fully rented month to month annual agreements paying below market value. City zoning allows weekly rentals. Purchase and earn rental income OR develop in DTN zoning. Common area laundry as an amenity for tenants. Bldg #1 has 2 units, each are 1 bedroom/1 bath. Bldg 2 has 2 units, each are 2 bedroom/1 bath. Bldg #3 is the cottage/studio. This property is in fast growing downtown Sarasota a few blocks to Main Street with downtown restaurants, shops and bars. 2 blocks from Sarasota City park with tennis courts, playground and dog park all situated around a lake! Many multimillion dollar homes and deluxe condo developments in and surrounding Gillespie Park. Close to beaches and beautiful Sarasota Bay. Investment property with huge income potential and huge future DTN development. Seller is offering owner/seller financing to prospective buyers. 60% minimum down payment requirement. All financing terms are extremely attractive. Minimum balloon options will be considered. Seller will not go into 2nd position as lender.

ⓘ 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 ≥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: $127,920
• − Mortgage interest: −$67,219
• − Property taxes: −$18,000
• − Insurance: −$6,000
• − Repairs & maintenance: −$10,234
• − Management: −$10,234
• − Depreciation: −$34,909
• Taxable loss: −$18,675
• Est. tax savings @ 24.0%: +$4,482
• After-tax cash flow: $6,024/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates needed. It offers a great investment opportunity in a fast-growing downtown Sarasota location.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Updating window screens — Improves energy efficiency and security
• Both Refrigerator and microwave replacement — Modernizes kitchen and improves functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Updating window screens — Improves energy efficiency and security ↑
• Both Refrigerator and microwave replacement — Modernizes kitchen and improves functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,446
• Household income: $95,881
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 927.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 6% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 3% Scotch-Irish 3%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 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: ▲ 1.92%
• Current HPI: 302.9082
• Rent YoY: ▼ -5.12%
• 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

-7.7% since first listed

2 events — show timeline

• 2026-01-30 Price Changed $1,199,999 Stellar MLS as Distributed by MLS Grid
• 2025-12-10 Listed $1,299,999 Stellar MLS as Distributed by MLS Grid