2440 22nd St · North Sarasota, FL 34234

$279,000

3 bd · 1.0 ba · 1,384 sqft · SingleFamily public records · 14 Days on market

Built 1996

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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 +13.5/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The price is right! This cute home could easily be converted to a 4 bedroom by adding a closet to the oversized den. Home has new carpeting and a great cul-de-sac location next to the school. Solid block home built in 1986. Inside will need some TLC but there is a lot of value here! this would be a no brainer as rental property.

Key facts

• Repiped
• Walk-in closets
• New a/c

Tags

• NEW ROOF
• NEW A/C
• FRESHLY PAINTED INTERIOR
• FRESHLY PAINTED EXTERIOR
• REPIPED
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $10 ($123/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (18.2% below list).
• Recommended offer: $228k (18.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#349 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: commute D+, amenities F, employment 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: Emma E. Booker Elementary School (math 35% / reading 32%, grade F, #1,758 of 2,144 statewide, top 83%, 468 students, 93% FRL); Booker Middle School (math 45% / reading 41%, grade D-, #331 of 571 statewide, top 59%, 950 students, 76% FRL); Sarasota High School (math 53% / reading 59%, grade C, #131 of 667 statewide, top 20%, 2,528 students, 43% FRL) — zoned schools average 71% FRL vs 42% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 44% at this address vs 63% district-wide (-19 pts) — the specific schools serving this property underperform the Sarasota average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.1%/yr); 270 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $2,281/mo this rent would consume 48% of the median local household income ($57k/yr) (locally 1306% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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 $52k; list at $279k implies a 437% gain — meaningful room to come down on a strong offer.

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 $228,128 (18.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 10.2

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: -19.3%
• Equity multiple: 0.34×
• Total profit: $-51,293
• Equity at exit: $41,600

10-year hold

• IRR: -19.1%
• Equity multiple: 0.11×
• Total profit: $-69,863
• Equity at exit: $24,123

Cash invested: $78,120 (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: 270
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,281 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$213 /mo · $2,552/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $10

Break-even live

Break-even rent $2,268

Max offer price $279,000

Occupancy floor 95%

Sensitivity live

Price	-10% $168	-5% $89	+0% $10	+5% $-69	+10% $-148
Rent	-10% $-170	-5% $-80	+0% $10	+5% $100	+10% $190
Rate	-1.0pp $151	-0.5pp $81	base $10	+0.5pp $-62	+1.0pp $-136

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $279,000 Active 14 DOM
2. 2026-06-18
   days on market $279,000 Active 11 DOM
3. 2026-06-17
   days on market $279,000 Active 10 DOM
4. 2026-06-15
   days on market $279,000 Active 8 DOM
5. 2026-06-13
   days on market $279,000 Active 6 DOM
6. 2026-06-13
   days on market $279,000 Active 5 DOM
7. 2026-06-10
   days on market $279,000 Active 3 DOM
8. 2026-06-09
   days on market $279,000 Active 2 DOM
9. 2026-06-08
   remarks 579-char remark
10. 2026-06-08
    listed $279,000 Active 1 DOM

ⓘ 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: $2,552 · $213/mo
• Projected year-2 tax: $2,552 · $213/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 ≥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: $27,375
• − Mortgage interest: −$15,628
• − Property taxes: −$2,552
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,190
• − Management: −$2,190
• − Depreciation: −$8,116
• Taxable loss: −$4,696
• Est. tax savings @ 24.0%: +$1,127
• After-tax cash flow: $1,250/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 — North Sarasota

• Score: 72/100
• State rank: #349
• US rank: #6050

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Sarasota, FL
• County: Sarasota County · 448,376 people
• 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

+458.0% since first listed

6 events — show timeline

• 2026-06-08 Listed $279,000 FSBO.com
• 2013-11-04 Sold (Public Records) $52,000 Public Records
• 2013-10-31 Sold (MLS) $52,000 Stellar MLS as Distributed by MLS Grid
• 2012-05-18 Listed $54,900 Stellar MLS as Distributed by MLS Grid
• 1997-06-06 Sold (Public Records) $66,900 Public Records
• 1989-11-14 Sold (Public Records) $50,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $2,552 · -2.6% YoY. Source: county tax records.