660 Linley St · Longboat Key, FL 34228

$799,000

2 bd · 2.0 ba · 1,032 sqft · Land public records · 5 Days on market

Built 1952 5,506 sqft lot

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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 +14.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Owner Financing Available! Nestled in the heart of Longboat Key's coveted historic Longbeach Village, this exceptional island retreat offers 3 bedrooms and 3 bathrooms across two charming Key West-style cottages just moments from both the most pristine Gulf beaches and beautiful Sarasota Bay. This rare property blends timeless coastal elegance with modern updates in a private, landscaped setting. The main residence features a bright, open floor plan and an updated kitchen with quartz countertops, hardwood cabinetry, newer appliances, and abundant natural light. The detached guest cottage offers a private 1-bedroom, 1-bath layout complete with its own kitchen and entrance, providing the perf

Key facts

• Updated kitchen
• 5,506 sq ft lot
• Built 1952

Tags

• HISTORIC LONGBEACH VILLAGE
• KEY WEST STYLE COTTAGES
• UPDATED KITCHEN
• PRIVATE LANDSCAPED SETTING
• DETACHED GUEST COTTAGE
• SPACIOUS ENTERTAINING DECK

Property features AI

Finance

• Other: Lot dimensions approximately 38 x 120 (0.13 acres); Paved road access; Private boat ramp and beach/waterway access
• Financial info: Lease restrictions apply
• HOA & community: No association; Golf carts allowed; Pets allowed

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single family residence; One level; Faces northwest; Completed condition
• Construction: Block, cement siding, stone, and frame construction; Membrane and shingle roof; Slab foundation; Built as of public records
• Exterior features: Exterior lighting; Private mailbox; Storage

Interior

• Kitchen: Cooktop; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Kitchen/family room combo; Open floorplan; Thermostat
• Laundry & utility: Laundry inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $799k.

Deal economics

• At list price, monthly cash flow is $-263 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $753k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $645k (19.3% below list).
• Recommended offer: $645k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 0.5% in Longboat Key — 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 64/100 on livability (#693 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Anna Maria Elementary School (math 77% / reading 77%, grade A, #170 of 2,144 statewide, top 9%, 190 students, 36% FRL); Martha B. King Middle School (math 48% / reading 39%, grade D, #329 of 571 statewide, top 58%, 848 students, 63% FRL); Bayshore High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 1,435 students, 65% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 543 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($6k loan paydown + $6k appreciation (0.7% local appreciation)).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 22y 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 $460k; list at $799k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $644,816 (19.3% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.94×
• Total profit: $-12,385
• Equity at exit: $261,507

10-year hold

• IRR: 4.0%
• Equity multiple: 1.47×
• Total profit: $104,804
• Equity at exit: $338,974

Cash invested: $223,720 (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 34228

• Home prices YoY: 0.3%
• Active inventory: 543
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $6,448 medium
• Mortgage (P&I): −$4,190
• Tax from tax record: −$407 /mo · $4,889/yr
• Insurance: −$333
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,354
• Net cashflow: $-263

Break-even live

Break-even rent $6,781

Max offer price $752,570

Occupancy floor 99%

Sensitivity live

Price	-10% $189	-5% $-37	+0% $-263	+5% $-489	+10% $-715
Rent	-10% $-772	-5% $-518	+0% $-263	+5% $-8	+10% $247
Rate	-1.0pp $140	-0.5pp $-60	base $-263	+0.5pp $-470	+1.0pp $-681

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6979 Longboat Dr S Longboat Key, FL	3.0	2.0	1454	$10,000	$6.88	25d	1	0.16mi
730 Fox St Longboat Key, FL	3.0	3.0	1350	$5,500	$4.07	25d	1	0.16mi
420 Firehouse Ct #10 Longboat Key, FL	2.0	2.0	1015	$3,600	$3.55	25d	1	0.31mi
615 Dream Island Rd #107 Longboat Key, FL	2.0	2.0	1293	$12,500	$9.67	25d	1	1.29mi

Listing history 4 events

1. 2026-06-22
   days on market $799,000 Active 5 DOM
2. 2026-06-18
   days on market $799,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $799,000 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: $4,889 · $407/mo
• Projected year-2 tax: $6,632 · $553/mo
• Expected delta: +$1,743/yr (+$145/mo · 35.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,378
• − Mortgage interest: −$44,756
• − Property taxes: −$4,889
• − Insurance: −$9,114
• − Repairs & maintenance: −$6,190
• − Management: −$6,190
• − Depreciation: −$23,244
• Taxable loss: −$17,005
• Est. tax savings @ 24.0%: +$4,081
• After-tax cash flow: $927/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Longboat Key

• Score: 64/100
• State rank: #693
• US rank: #14452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longboat Key, FL
• County: Sarasota County · 448,376 people
• City population: 7,539
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 7,539
• Household income: $158,030
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 98.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Scotch-Irish 7% Romanian 6% Lithuanian 4%
• Foreign-born: 14% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 2%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.73%
• Current HPI: 234.5017
• Rent YoY: —
• 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

+1041.4% since first listed

39 events — show timeline

• 2026-06-16 Listed $799,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-25 Price Changed $675,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $725,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-09 Listed $750,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-05-06 Price Changed $999,950 Stellar MLS as Distributed by MLS Grid
• 2024-02-09 Price Changed $1,099,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-12-03 Price Changed $1,199,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-07-05 Listed $1,275,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-07-17 Price Changed $1,300,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-06-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-05-26 Listed $1,399,000 Stellar MLS as Distributed by MLS Grid
• 2019-10-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-06-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2019-06-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-03-15 Price Changed $699,000 Stellar MLS as Distributed by MLS Grid
• 2019-01-03 Listed $739,000 Stellar MLS as Distributed by MLS Grid
• 2008-06-19 Sold (Public Records) $460,000 Public Records
• 2008-06-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-06-13 Sold (MLS) $460,000 Stellar MLS as Distributed by MLS Grid
• 2008-02-03 Listed $475,000 Stellar MLS as Distributed by MLS Grid
• 2008-01-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-01-12 Listed $470,000 Stellar MLS as Distributed by MLS Grid
• 2008-01-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-06-15 Listed $499,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-05 Listed $550,000 Stellar MLS as Distributed by MLS Grid
• 2006-04-05 Listed $499,000 Stellar MLS as Distributed by MLS Grid
• 2005-07-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-06-08 Listed $775,000 Stellar MLS as Distributed by MLS Grid
• 2004-10-18 Sold (Public Records) $425,000 Public Records
• 2004-09-28 Sold (MLS) $425,000 Stellar MLS as Distributed by MLS Grid
• 2004-07-19 Listed $425,000 Stellar MLS as Distributed by MLS Grid
• 1992-02-21 Sold (Public Records) $125,300 Public Records
• 1986-11-01 Sold (Public Records) $70,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,889 · -34.3% YoY. Source: county tax records.