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2 Quails Run Blvd #2104
B- Composite 65.03
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 +21.8/30.0
  • 1% rule +10.0/10.0
  • ARV discount +7.5/15.0
  • DSCR +7.0/10.0
  • Schools +6.6/10.0
  • Rent growth +4.8/5.0
  • Condition / age +3.8/5.0
  • Livability +3.7/5.0
  • Appreciation +0.0/10.0

$134,900

2 Quails Run Blvd #2104 · Englewood, FL 34223
2 bd · 2.0 ba · 946 sqft · Condo · 166 Days on market
Built 1977 Good condition $143/sqft · 63% below area $600/mo HOA · 27% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Down stairs two bed room two bath with a preferred floor plan and water view. This floor plan has both bed rooms on the right hand side of the condo. The left hand side has the kitchen in the front, then flows into the dining then the living room and finally out the screened in lanai. The master bed room and living room both open up into the lanai with sliders and both have a great view over looking the pond with water fountain. This condo comes furnished and is ready for you to move in. Enjoy the club house with many activities and the heated pool. This particular floor plan down stairs is hard to come by.

Key facts

  • Vinyl flooring
  • Florida room
  • View of the lake

Tags

FLORIDA ROOMFIRST-FLOOR ACCESSVIEW OF THE LAKEVINYL FLOORINGCLOSE PROXIMITY TO SHOPPING

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-216 ($-3k/yr) — negative.
  • To cash-flow at today's rent, offer at most $104k (23.1% below list).
  • Meets the 1% rule at list price ($2k rent vs $135k).
  • Recommended offer: $104k (23.1% below list) — sets the bar for cash-flow.
  • Cap rate 8.2% vs local median 3.6% 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.
  • 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: Englewood Elementary School (math 65% / reading 66%, grade B+, #500 of 2,144 statewide, top 24%, 587 students, 52% FRL).
  • Market conditions: Rents rising fast (+9.0%/yr); 901 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
  • This rent runs 35% of the median local income ($76k/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 $933 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

  • It's been on market 166 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
  • 3 sale attempts since 16y 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.

Risks & watch-outs

  • Watch-outs: flood insurance adds $427/mo; HOA is 27% of rent.
  • 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $103,710 (23.1% 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. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
  3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
  5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  6. 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?
  7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  9. 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?
  10. 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.
  11. 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.
  12. 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
1.64% ✓
Cap rate
8.17%
Cash-on-cash
6.70%
DSCR
1.30
GRM
5.1

CMA / ARV

ARV (median comp)
$365,438
List price
$134,900
Delta
-63.09%
Verdict
UNDERPRICED
Comps
6 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
817 E 6th St 1.30mi 2/1.5 968 (+2%) 4mo $225,000 $232 56
825 E 5th St 1.36mi 2/1.5 936 (-1%) 7mo $325,000 $347 55
848 E 4th St 1.46mi 2/1.5 908 (-4%) 5mo $325,000 $358 52
801 E 2nd St 1.43mi 2/2.0 1,005 (+6%) 6mo $170,000 $169 50
866 E 6th St 1.44mi 2/2.0 1,055 (+12%) 6mo $340,000 $322 41
25 Hillcrest Dr 1.12mi 2/1.5 1,060 (+12%) 5mo $240,000 $226 39
1401 S Mccall Rd Unit 104B 1.24mi 2/2.0 1,093 (+16%) 1mo $230,000 $210 39
130 Crestview Dr 1.13mi 2/2.0 1,086 (+15%) 3mo $418,500 $385 38
1401 S Mccall Rd Unit 303A 1.24mi 2/2.0 1,093 (+16%) 4mo $269,000 $246 37
832 E 4th St 1.41mi 3/1.0 (+1) 1,044 (+10%) 3mo $367,000 $352 36
53 W Bay Heights Ave #205 0.92mi 2/2.0 1,116 (+18%) 7mo $290,000 $260 34
35 Hillcrest Dr 1.13mi 2/1.0 770 (-19%) 5mo $215,000 $279 32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold
IRR
-15.8%
Equity multiple
0.38×
Total profit
$-23,262
Equity at exit
$20,114
10-year hold
IRR
4.5%
Equity multiple
1.47×
Total profit
$17,842
Equity at exit
$11,664

Cash invested: $37,772 (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.

Active competition Active MLS

For sale now
1 active · 1 under contract
Median asking
$179,900 ($178/sqft)
Median days on market
180 d
This list price
lowest-priced of the active set
ARV vs active asking
+117.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34223

Home prices YoY
-34.2%
Rents YoY
9.0%
Active inventory
901
Price-to-rent
5.1×

Monthly cashflow live

Estimated rent
$2,207 high interval (Pro) →
Mortgage (P&I)
−$707
Tax est. 1.5%
−$169 /mo · $2,024/yr
Insurance
−$56
Flood insurance flood zone
−$427 /mo · $5,118/yr
HOA
−$600
Vacancy / Maint / Mgmt
−$463
Net cashflow
$-216

Break-even live

Break-even rent $2,480
Max offer price $103,710
Occupancy floor —

Sensitivity live

Price -10% $-122 -5% $-169 +0% $-216 +5% $-262 +10% $-309
Rent -10% $-390 -5% $-303 +0% $-216 +5% $-128 +10% $-41
Rate -1.0pp $-148 -0.5pp $-181 base $-216 +0.5pp $-250 +1.0pp $-286

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
$33,725
Closing costs
$4,047
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 27 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
12 Quails Run Blvd #12 Englewood, FL 2.0 2.0 925 $2,400 $2.59 2d 1 0.07mi
511 Pine Hollow Cir #511 Englewood, FL 2.0 2.0 1112 $1,950 $1.75 43d 1 0.19mi
307 Pine Hollow Cir Englewood, FL 2.0 2.0 1112 $3,750 $3.37 10d 1 0.20mi
307 Pine Hollow Cir #307 Englewood, FL 2.0 2.0 1112 $3,900 $3.51 10d 1 0.20mi
40 W Cowles St Apt B Englewood, FL 1.0 1.0 560 $1,125 $2.01 10d 1 0.23mi
130 Virginia Ct Englewood, FL 2.0 2.0 1064 $1,900 $1.79 23d 1 0.32mi
104 S New York Ave Unit NY-108 Englewood, FL 1.0 1.0 574 $1,295 $2.26 43d 1 0.34mi
73 2nd Ave Englewood, FL 1.0 1.0 550 $1,300 $2.36 10d 1 0.37mi
640 Harvey St Englewood, FL 2.0 2.0 1059 $1,450 $1.37 10d 1 0.40mi
635 Harvey St Englewood, FL 2.0 2.0 1100 $1,650 $1.50 10d 1 0.41mi
653 Harvey St Englewood, FL 2.0 2.0 982 $1,600 $1.63 10d 1 0.44mi
50 Euclid Ave Englewood, FL 2.0 1.5 780 $1,800 $2.31 43d 1 0.45mi
655 Harvey St Englewood, FL 2.0 2.0 982 $1,600 $1.63 10d 1 0.45mi
60 French Ave Englewood, FL 2.0 1.0 1102 $1,600 $1.45 10d 1 0.54mi
60 French Ave Englewood, FL 2.0 1.0 1102 $1,600 $1.45 31d 1 0.54mi
26 French Ave Englewood, FL 1.0 1.0 840 $2,300 $2.74 10d 1 0.56mi
787 Liberty St Englewood, FL 2.0 1.0 957 $2,900 $3.03 10d 1 0.60mi
797 Michigan Ave Englewood, FL 2.0 1.0 900 $1,450 $1.61 10d 1 0.63mi
1210 S Maryknoll Rd Englewood, FL 2.0 2.0 1063 $2,600 $2.45 162d 1 1.13mi
255 Pineapple St Unit 3 Englewood, FL 1.0 1.0 650 $1,325 $2.04 2d 1 1.13mi
255 Pineapple St Unit 3 Englewood, FL 1.0 1.0 650 $1,325 $2.04 10d 1 1.13mi
275 Pineapple St Unit B Englewood, FL 1.0 1.0 650 $1,325 $2.04 10d 1 1.14mi
1401 S McCall Rd Unit 301A Englewood, FL 2.0 2.0 1093 $3,300 $3.02 162d 1 1.21mi
1401 S McCall Rd Englewood, FL 2.0 2.0 1093 $3,150 $2.88 51d 2 1.22mi
5041 N Beach Rd Unit 3-A Englewood, FL 2.0 1.0 864 $3,000 $3.47 162d 1 1.46mi
1435 New Point Comfort Rd Unit B Englewood, FL 1.0 1.0 744 $1,520 $2.04 162d 1 1.46mi
5041 N Beach Rd Unit 1B Englewood, FL 2.0 1.0 800 $3,500 $4.38 26d 1 1.47mi

Property features AI

Finance

Other
Association name: Amber Mackian
Financial info
Lease restrictions apply
HOA & community
Monthly condo fee: $600 (includes cable TV, internet, sewer, trash, water, pool)Annual fees: $7,200Association requires approvalAssociation amenities: Laundry, PoolCommunity features: Deed restrictions, Pool, Wheelchair accessSenior communityPets allowed (cats and dogs) with limits — max pet weight 16 lbs

Exterior

Parking
Assigned parkingGuest parkingOff-street parking
Utilities
Public waterPublic sewerCable available and connectedHigh-speed internet availableElectrical service available and connectedWater and sewer connected
Home design
CondominiumResidential propertyOne levelFaces southwest
Construction
Stucco constructionBuilt-up roofSlab foundationBuilt in 2-story building (unit on first floor)
Exterior features
Enclosed patio/porchPond frontage and pond viewTrees and landscaped groundsPaved, privately maintained road

Interior

Kitchen
DishwasherDisposalExhaust fanIce makerRangeRefrigerator
Bedrooms
2 bedrooms
Flooring
Vinyl
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (electric)Central air conditioning
Interior features
Ceiling fansStone countersSliding doors
Laundry & utility
Common area laundry

HOA detail $600/mo · $7,200/yr condo

Likely covers
waterpool
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-11-08
    days on market $134,900 Active 166 DOM
  2. 2026-11-07
    days on market $134,900 Active 165 DOM
  3. 2026-11-06
    days on market $134,900 Active 164 DOM
  4. 2026-11-05
    days on market $134,900 Active 163 DOM
  5. 2026-11-04
    days on market $134,900 Active 162 DOM
  6. 2026-11-02
    days on market $134,900 Active 160 DOM
  7. 2026-11-01
    days on market $134,900 Active 159 DOM
  8. 2026-10-31
    days on market $134,900 Active 158 DOM
  9. 2026-10-30
    days on market $134,900 Active 157 DOM
  10. 2026-10-29
    days on market $134,900 Active 156 DOM
  11. 2026-10-28
    days on market $134,900 Active 155 DOM
  12. 2026-10-27
    days on market $134,900 Active 154 DOM
  13. 2026-10-26
    days on market $134,900 Active 153 DOM
  14. 2026-10-25
    days on market $134,900 Active 152 DOM
  15. 2026-10-24
    days on market $134,900 Active 151 DOM
  16. 2026-10-23
    days on market $134,900 Active 150 DOM
  17. 2026-10-22
    days on market $134,900 Active 149 DOM
  18. 2026-10-21
    days on market $134,900 Active 148 DOM
  19. 2026-10-20
    days on market $134,900 Active 147 DOM
  20. 2026-10-19
    days on market $134,900 Active 146 DOM
  21. 2026-10-18
    days on market $134,900 Active 145 DOM
  22. 2026-10-17
    days on market $134,900 Active 144 DOM
  23. 2026-10-16
    days on market $134,900 Active 143 DOM
  24. 2026-10-15
    days on market $134,900 Active 142 DOM
  25. 2026-10-14
    days on market $134,900 Active 141 DOM
  26. 2026-10-13
    days on market $134,900 Active 140 DOM
  27. 2026-10-12
    days on market $134,900 Active 139 DOM
  28. 2026-10-11
    days on market $134,900 Active 138 DOM
  29. 2026-10-10
    days on market $134,900 Active 137 DOM
  30. 2026-10-09
    days on market $134,900 Active 136 DOM
  31. 2026-10-08
    days on market $134,900 Active 135 DOM
  32. 2026-10-07
    days on market $134,900 Active 134 DOM
  33. 2026-10-05
    days on market $134,900 Active 132 DOM
  34. 2026-10-04
    days on market $134,900 Active 131 DOM
  35. 2026-10-03
    days on market $134,900 Active 130 DOM
  36. 2026-10-02
    days on market $134,900 Active 129 DOM
  37. 2026-10-01
    days on market $134,900 Active 128 DOM
  38. 2026-09-30
    days on market $134,900 Active 127 DOM
  39. 2026-09-29
    days on market $134,900 Active 126 DOM
  40. 2026-09-28
    days on market $134,900 Active 125 DOM
  41. 2026-09-27
    days on market $134,900 Active 124 DOM
  42. 2026-09-25
    days on market $134,900 Active 122 DOM
  43. 2026-09-24
    days on market $134,900 Active 121 DOM
  44. 2026-09-23
    days on market $134,900 Active 120 DOM
  45. 2026-09-22
    days on market $134,900 Active 119 DOM
  46. 2026-09-20
    days on market $134,900 Active 117 DOM
  47. 2026-09-19
    days on market $134,900 Active 116 DOM
  48. 2026-09-18
    days on market $134,900 Active 115 DOM
  49. 2026-09-17
    days on market $134,900 Active 114 DOM
  50. 2026-09-16
    days on market $134,900 Active 113 DOM

ⓘ 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 AE · 74% chance over 30 yrs
  • 🔥 Wildfire 4/10 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$26,480
− Mortgage interest
−$7,556
− Property taxes
−$2,024
− Insurance
−$5,793
− Repairs & maintenance
−$2,118
− Management
−$2,118
− HOA
−$7,200
− Depreciation
−$3,924
Taxable loss
−$4,254
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,021
After-tax cash flow
$-1,566/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 75/100 Cosmetic rehab Est. rehab $4,730–$14,190 screening

This 2-bedroom, 2-bath condo in a desirable 55+ community is in good condition with minimal repairs needed. It offers a spacious floorplan and a peaceful community atmosphere.

Value-add opportunities

  • Both Paint exterior — Enhances curb appeal and value ↑
  • Both Replace sliding glass doors — Improves energy efficiency and safety ↑
  • Resale Replace countertops — Modernizes the kitchen and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 66/100

Zoned Schools

Elementary Englewood Elementary School B+ FL #500/2,144 Nat'l #5,011/41,679

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
B Composite livability gradescore 73/100

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 · 452,380 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
15% of renters

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 (94%)
Race & ethnicity
White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
Languages at home
94% English-only · German/W. Germanic 2% Spanish 1% Other Indo-European 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
—

Price history

+69.7% since first listed
8 events — show timeline
  • 2026-05-26 Listed $134,900 Stellar MLS as Distributed by MLS Grid
  • 2017-11-20 Sold (MLS) $119,500 Stellar MLS as Distributed by MLS Grid
  • 2017-10-03 Pending — Stellar MLS as Distributed by MLS Grid
  • 2017-09-29 Price Changed $123,900 Stellar MLS as Distributed by MLS Grid
  • 2017-08-15 Price Changed $126,900 Stellar MLS as Distributed by MLS Grid
  • 2017-07-27 Listed $129,900 Stellar MLS as Distributed by MLS Grid
  • 2012-06-29 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
  • 2010-10-13 Listed $79,500 Stellar MLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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