741 Iris Dr · South Venice, FL 34293

$169,000

2 bd · 2.0 ba · 1,055 sqft · Manufactured public records · 64 Days on market

Built 1979 3,750 sqft lot $257/mo HOA · 12% of rent

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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 +23.5/30.0
• 1% rule +7.7/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under contract-accepting backup offers. Welcome to this beautifully maintained 2BR/2BA doublewide on a desirable corner lot, offered turnkey furnished with newer furniture, making it truly move-in ready. The home features laminate flooring throughout with tile in both bathrooms, along with new subflooring. Spacious bedrooms include walk-in closets and the primary suite offers an ensuite bath with a new vanity. Enjoy relaxing Florida days on the screened porch, perfect for morning coffee or evening breezes. Located in Japanese Gardens, an active 55+ resident-owned community approximately one mile from the beach. Residents enjoy a wide variety of amenities including pickleball, bocce, shuffleboard, horseshoes, a large heated pool, hot tub, clubhouse, library, billiards room, and a full calendar of social activities and events. Resident-owned community with no lot rent, making this a wonderful opportunity to enjoy affordable coastal living near beaches, shopping, dining, and everything the Venice area has to offer.

Key facts

• Hot tub
• Clubhouse
• Screened porch

Tags

• CORNER LOT
• SCREENED PORCH
• HEATED POOL
• HOT TUB
• CLUBHOUSE
• LIBRARY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (11.7% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (11.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: amenities F, commute F, health & safety 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); Venice Middle School (math 71% / reading 58%, grade A-, #100 of 571 statewide, top 18%, 761 students, 37% FRL); Venice Senior High School (math 67% / reading 61%, grade B-, #86 of 667 statewide, top 13%, 2,584 students, 31% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents flat; 1255 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 64 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.
• 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 $149,205 (11.7% 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 64 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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 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: 1.27% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.35
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.18×
• Total profit: $-38,948
• Equity at exit: $25,198

10-year hold

• IRR: -37.0%
• Equity multiple: -0.28×
• Total profit: $-60,389
• Equity at exit: $14,612

Cash invested: $47,320 (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 34293

• Rents YoY: 0.7%
• Active inventory: 1255
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,144 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$70
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$257
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-112

Break-even live

Break-even rent $2,286

Max offer price $149,205

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-64	+0% $-112	+5% $-160	+10% $-208
Rent	-10% $-281	-5% $-197	+0% $-112	+5% $-27	+10% $57
Rate	-1.0pp $-27	-0.5pp $-69	base $-112	+0.5pp $-156	+1.0pp $-200

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $257 · $3,084/yr
• Likely covers: pool

Listing history 14 events

1. 2026-05-19
   status Pending 1027-char remark

   Show marketing remark (1027 chars)

   Under contract-accepting backup offers. Welcome to this beautifully maintained 2BR/2BA doublewide on a desirable corner lot, offered turnkey furnished with newer furniture, making it truly move-in ready. The home features laminate flooring throughout with tile in both bathrooms, along with new subflooring. Spacious bedrooms include walk-in closets and the primary suite offers an ensuite bath with a new vanity. Enjoy relaxing Florida days on the screened porch, perfect for morning coffee or evening breezes. Located in Japanese Gardens, an active 55+ resident-owned community approximately one mile from the beach. Residents enjoy a wide variety of amenities including pickleball, bocce, shuffleboard, horseshoes, a large heated pool, hot tub, clubhouse, library, billiards room, and a full calendar of social activities and events. Resident-owned community with no lot rent, making this a wonderful opportunity to enjoy affordable coastal living near beaches, shopping, dining, and everything the Venice area has to offer.

2. 2026-03-16
   listed $169,000 Active 1027-char remark

   Show marketing remark (1027 chars)

   Under contract-accepting backup offers. Welcome to this beautifully maintained 2BR/2BA doublewide on a desirable corner lot, offered turnkey furnished with newer furniture, making it truly move-in ready. The home features laminate flooring throughout with tile in both bathrooms, along with new subflooring. Spacious bedrooms include walk-in closets and the primary suite offers an ensuite bath with a new vanity. Enjoy relaxing Florida days on the screened porch, perfect for morning coffee or evening breezes. Located in Japanese Gardens, an active 55+ resident-owned community approximately one mile from the beach. Residents enjoy a wide variety of amenities including pickleball, bocce, shuffleboard, horseshoes, a large heated pool, hot tub, clubhouse, library, billiards room, and a full calendar of social activities and events. Resident-owned community with no lot rent, making this a wonderful opportunity to enjoy affordable coastal living near beaches, shopping, dining, and everything the Venice area has to offer.

3. 2025-06-30
   historical
4. 2025-01-21
   listed $199,900 Active
5. 2024-04-15
   historical
6. 2024-02-02
   price $227,000
7. 2024-01-03
   listed $229,555 Active
8. 2023-06-30
   historical
9. 2023-06-06
   price $238,000
10. 2023-03-30
    listed $249,000 Active
11. 2022-12-27
    soldstatus $172,500 Closed
12. 2022-11-26
    status Pending
13. 2022-11-26
    listed $175,000 Active
14. 2004-04-05
    soldstatus $95,000

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $1,988 · $166/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 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $25,729
• − Mortgage interest: −$9,467
• − Property taxes: −$1,988
• − Insurance: −$5,964
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − HOA: −$3,084
• − Depreciation: −$4,916
• Taxable loss: −$3,806
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $-431/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 — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% 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: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• 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

+77.9% since first listed

14 events — show timeline

• 2026-05-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-21 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2024-04-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-02-02 Price Changed $227,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-03 Listed $229,555 Stellar MLS as Distributed by MLS Grid
• 2023-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-06-06 Price Changed $238,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-30 Listed $249,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-27 Sold (MLS) $172,500 Stellar MLS as Distributed by MLS Grid
• 2022-11-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-11-26 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2004-04-05 Sold (Public Records) $95,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,988 · -9.3% YoY. Source: county tax records.