1109 Patterson Dr · Sarasota, FL 34234

$300,000

3 bd · 1.0 ba · 1,527 sqft · SingleFamily public records · 341 Days on market

Built 1947 0.33 ac 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 +13.8/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

Key facts

• Unique floor plan
• Cypress siding
• Tranquil street

Tags

• VINTAGE RINGLING AREA HOME
• UNIQUE FLOOR PLAN
• TRANQUIL STREET
• ARCHITECTURAL FEATURES
• OPEN EAVE OVERHANG
• CYPRESS SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $28 ($339/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 (24.0% below list).
• Recommended offer: $228k (24.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime 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.
• Market conditions: Rents falling (-3.1%/yr); 268 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $2,279/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 $9k 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 341 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $300k implies a 477% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $227,939 (24.0% below list)

Questions for the listing agent

1. It's been on market 341 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
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 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: 0.76% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 11.0

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: -18.6%
• Equity multiple: 0.36×
• Total profit: $-53,643
• Equity at exit: $44,731

10-year hold

• IRR: -17.4%
• Equity multiple: 0.16×
• Total profit: $-70,820
• Equity at exit: $25,939

Cash invested: $84,000 (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: 268
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,279 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $28

Break-even live

Break-even rent $2,244

Max offer price $300,000

Occupancy floor 94%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $300,000 Active 341 DOM
2. 2026-06-17
   days on market $300,000 Active 340 DOM
3. 2026-06-15
   days on market $300,000 Active 338 DOM
4. 2026-06-13
   days on market $300,000 Active 336 DOM
5. 2026-06-13
   days on market $300,000 Active 335 DOM
6. 2026-06-10
   days on market $300,000 Active 333 DOM
7. 2026-06-09
   days on market $300,000 Active 332 DOM
8. 2026-06-08
   days on market $300,000 Active 330 DOM
9. 2026-06-05
   days on market $300,000 Active 327 DOM
10. 2026-06-03
    days on market $300,000 Active 326 DOM
11. 2026-06-02
    pricedays on market $300,000 Active 325 DOM
12. 2026-06-01
    days on market $325,000 Active 324 DOM
13. 2026-05-31
    days on market $325,000 Active 323 DOM
14. 2026-02-10
    price $325,000 1330-char remark

    Show marketing remark (1330 chars)

    This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

15. 2026-01-03
    status Active 1330-char remark

    Show marketing remark (1330 chars)

    This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

16. 2025-12-31
    historical 1330-char remark

    Show marketing remark (1330 chars)

    This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

17. 2025-09-08
    price $349,000 1330-char remark

    Show marketing remark (1330 chars)

    This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

18. 2025-07-09
    listed $365,000 Active 1330-char remark

    Show marketing remark (1330 chars)

    This vintage Ringling area home offers a unique floor plan with ample opportunities for customization. Located just minutes from downtown, the SRQ Airport, Ringling College, USF, New College, and numerous entertainment venues nestled on a tranquil street. Upon entering the home, you will be captivated by its architectural features reminiscent of a bygone era. The open eave overhang, cypress siding, and wood windows are among the standout details that contribute to its distinct character. The foyer welcomes you with original heart pine floors that extend throughout the floor plan. The living room boasts a spacious picture window overlooking the front yard and a cozy fireplace surrounded by shelves. The master bedroom is generously sized to accommodate a king-size bed, providing ample space for a sitting room that extends to a lush green backyard. The kitchen/dining room on the opposite side of the home is filled with natural light, creating an ideal setting for entertaining. Its spacious layout allows for the transformation of the kitchen into a true chef’s kitchen. A private hallway off the kitchen leads to the second and third bedrooms. The backyard, akin to a private paradise, features a diverse array of trees and a custom-built open carport/workshop. Schedule a viewing of this exceptional home today.

19. 1990-11-09
    soldstatus $52,000

ⓘ 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: $891 · $74/mo
• Projected year-2 tax: $2,490 · $208/mo
• Expected delta: +$1,599/yr (+$133/mo · 179.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $27,353
• − Mortgage interest: −$16,805
• − Property taxes: −$891
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,188
• − Management: −$2,188
• − Depreciation: −$8,727
• Taxable loss: −$4,946
• Est. tax savings @ 24.0%: +$1,187
• After-tax cash flow: $1,526/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 — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sarasota, FL
• County: Sarasota County · 448,376 people
• City population: 261,896
• 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

+525.0% since first listed

6 events — show timeline

• 2026-02-10 Price Changed $325,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-08 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-09 Listed $365,000 Stellar MLS as Distributed by MLS Grid
• 1990-11-09 Sold (Public Records) $52,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $891 · +7.5% YoY. Source: county tax records.