1531 Placida Rd Unit 10-103 · Englewood, FL 34223

$185,000

2 bd · 2.0 ba · 1,056 sqft · Condo · 181 Days on market

Built 1986 $650/mo HOA · 21% of rent ↓ 5% since listing

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Why this score? — see what drove the B 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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1531 Placida Rd Unit 10-103 ground floor is a beautifully maintained 2-bedroom, 2-bath furnished condo in the desirable Palm Manor community, offering an open living-and-dining layout with approximately 1,056 sq ft of comfortable living space. Built in a well-kept complex with amenities such as a community pool, clubhouse, and recreational areas, it provides a relaxed Florida lifestyle just minutes from Englewood Gulf beaches, as well as convenient access to nearby shopping and daily necessities. Turn-key furnishings, community features, and the prime coastal location make this condo ideal for full-time living, a seasonal getaway, or a strong investment property.

Key facts

• Clubhouse
• Community pool
• Recreational areas

Tags

• COMMUNITY POOL
• CLUBHOUSE
• RECREATIONAL AREAS
• PRIME COASTAL LOCATION

Property features AI

Finance

• Other: No lease restrictions indicated
• Financial info: Total monthly fees shown as $650; total annual fees $7,800; Turnkey (furnished)
• HOA & community: HOA (Claire Spencer) with $650 monthly dues; Quarterly association fee of $1,950; Association amenities include clubhouse, pool, and tennis courts; Association fees include cable TV, common area taxes, pool, grounds maintenance, management, and pest control; Association membership required; Part-time management; Pets not allowed

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Attached condominium; Single-story (One level); Faces east
• Construction: Block and stucco construction; Shingle roof; Block foundation; Slab foundation; Built as part of Building 10
• Exterior features: Tennis courts; Heated in-ground pool; Paved road access; Community mailbox

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.8% in Englewood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#321 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, health & safety A; Watch: employment C-, amenities F, commute F.
• Charlotte (suburban): math 54% / reading 54% proficiency, ranked #22 of 73 in FL (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Myakka River Elementary School (math 65% / reading 60%, grade B, #601 of 2,144 statewide, top 28%, 608 students, 51% FRL); Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL).
• Market conditions: Rents rising fast (+9.0%/yr); 717 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $3,161/mo this rent would consume 50% of the median local household income ($76k/yr) (locally 290% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 21% of rent.
• Climate carrying-cost: major flood risk; 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 A-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. 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: 1.71% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.7%
• Equity multiple: 1.37×
• Total profit: $19,189
• Equity at exit: $27,584

10-year hold

• IRR: 23.0%
• Equity multiple: 3.62×
• Total profit: $135,890
• Equity at exit: $15,995

Cash invested: $51,800 (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 34223

• Home prices YoY: -34.2%
• Rents YoY: 9.0%
• Active inventory: 717
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,161 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$650
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $502

Break-even live

Break-even rent $2,525

Max offer price $185,000

Occupancy floor 79%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1531 Placida Rd #204 Englewood, FL	2.0	2.0	1056	$3,500	$3.31	21d	1	0.06mi
1531 Placida Rd #203 Englewood, FL	2.0	2.0	1056	$3,900	$3.69	21d	1	0.07mi
1435 New Point Comfort Rd Unit B Englewood, FL	1.0	1.0	744	$1,520	$2.04	21d	1	0.28mi
1575 Loralin Dr Englewood, FL	3.0	2.0	1322	$5,000	$3.78	21d	1	0.43mi
1210 S Maryknoll Rd Englewood, FL	2.0	2.0	1063	$2,600	$2.45	21d	1	0.60mi
1401 S McCall Rd Unit 301A Englewood, FL	2.0	2.0	1093	$3,300	$3.02	21d	1	0.62mi
1120 Lampp Dr Englewood, FL	3.0	2.0	1212	$4,000	$3.30	21d	1	0.67mi
858 E 7th St Englewood, FL	3.0	2.0	1244	$1,995	$1.60	21d	1	0.69mi
1604 Cardinal Ln Unit 1 Englewood, FL	1.0	1.0	750	$1,300	$1.73	21d	1	0.84mi
2275 S McCall Rd #201 Englewood, FL	2.0	2.0	1050	$2,000	$1.90	13d	1	0.97mi
1960 Oregon Trl Unit 2A Englewood, FL	2.0	2.0	1360	$3,750	$2.76	21d	1	1.08mi
1970 Georgia Ave Englewood, FL	3.0	2.0	1160	$11,790	$10.16	21d	1	1.32mi
2643 Lear Rd Englewood, FL	2.0	2.0	1206	$5,800	$4.81	21d	1	1.45mi

HOA detail condo

• Monthly dues: $650 · $7,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $185,000 Active 181 DOM
2. 2026-06-17
   days on market $185,000 Active 180 DOM
3. 2026-06-16
   days on market $185,000 Active 179 DOM
4. 2026-06-15
   days on market $185,000 Active 178 DOM
5. 2026-06-14
   days on market $185,000 Active 176 DOM
6. 2026-06-13
   days on market $185,000 Active 175 DOM
7. 2026-06-10
   days on market $185,000 Active 173 DOM
8. 2026-06-09
   days on market $185,000 Active 172 DOM
9. 2026-06-08
   days on market $185,000 Active 171 DOM
10. 2026-06-05
    days on market $185,000 Active 167 DOM
11. 2026-06-03
    days on market $185,000 Active 166 DOM
12. 2026-06-02
    days on market $185,000 Active 165 DOM
13. 2026-06-01
    days on market $185,000 Active 164 DOM
14. 2026-05-31
    days on market $185,000 Active 163 DOM
15. 2026-05-30
    days on market $185,000 Active 162 DOM
16. 2026-04-14
    price $185,000
17. 2025-12-19
    listed $195,000 Active

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $37,929
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,722
• − Repairs & maintenance: −$3,034
• − Management: −$3,034
• − HOA: −$7,800
• − Depreciation: −$5,382
• Taxable income: $3,818
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $5,108/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: Charlotte
• NCES district ID: 1200240
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $44,864
• Composite: 45.62/100
• National rank: #2586
• State rank: #22 of 73 in FL

Livability — Englewood

• Score: 73/100
• State rank: #321
• US rank: #5655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Englewood, FL
• County: Sarasota County · 448,376 people
• City population: 35,420
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,884
• Household income: $76,016
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 290.0

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 198,646 people
• By 2030: 210,507 · +6.0%
• By 2040: 230,857 · +16.2%
• By 2050: 247,148 · +24.4%
• By 2075: 281,777 · +41.8%
• By 2100: 293,609 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 4% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 94% English-only · German/W. Germanic 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+34.0) · D 32.7% · R 66.7%
• 2008→2024 swing: -26.7pp toward R · 2008: -7.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+26.6 2016: R+27.8 2012: R+14.3 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.26%
• Current HPI: 281.0529
• Rent YoY: ▲ 9.02%
• 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

-5.1% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-19 Listed $195,000 Stellar MLS as Distributed by MLS Grid