2507 Beneva Rd #10 · Southgate, FL 34232

$159,900

2 bd · 2.0 ba · 1,260 sqft · Condo public records · 146 Days on market

Built 1964 $510/mo HOA · 24% 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 +16.2/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your Sarasota retreat in a highly desirable central location close to everything. This charming 2 bedroom, 2 bath corner condo on the second floor offers an ideal blend of comfort, convenience, and opportunity. The spacious layout provides a bright, open feel and is ready for your personal touches to truly make it your own. Enjoy Florida living year-round from your enclosed private balcony, perfect for morning coffee, quiet afternoons, or relaxed evenings with friends. The well-maintained community features a sparkling pool, making it easy to unwind and enjoy the sunshine just steps from your door. For golf enthusiasts, The Palms Golf Club at Forest Lakes is nearby, offering a picturesque setting to practice your swing. Downtown Sarasota is just a short drive away, where you'll find a wonderful array of shops, restaurants, and cultural attractions, while the Legacy Trail, just around the corner, is perfect for biking, walking, jogging, and enjoying the natural beauty of the area. Plus, the pristine beaches of Siesta Key and Lido Key are within easy reach as well. Rentals are allowed, making this an excellent option for investors. Whether you’re looking for a primary residence, a second home, or an income-producing property, this condo offers endless potential in one of Sarasota’s most convenient locations. Schedule your private showing today and envision the possibilities!

Key facts

• Downtown sarasota
• Pristine beaches
• Corner unit

Tags

• ENCLOSED PRIVATE BALCONY
• DOWNTOWN SARASOTA
• PRISTINE BEACHES
• CORNER UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#397 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing 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.
• Market conditions: Rents falling (-3.5%/yr); 265 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 32% of the median local income ($81k/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 $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 146 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $160k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 6.2

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: -17.4%
• Equity multiple: 0.41×
• Total profit: $-26,388
• Equity at exit: $23,842

10-year hold

• IRR: -20.7%
• Equity multiple: 0.13×
• Total profit: $-38,873
• Equity at exit: $13,825

Cash invested: $44,772 (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.

Methodology + full state rankings →

ZIP-level market 34232

• Rents YoY: -3.5%
• Active inventory: 265
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$197 /mo · $2,365/yr
• Insurance: −$67
• HOA: −$510
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $86

Break-even live

Break-even rent $2,041

Max offer price $159,900

Occupancy floor 91%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $159,900 Active 146 DOM
2. 2026-06-17
   days on market $159,900 Active 145 DOM
3. 2026-06-16
   pricedays on market $159,900 Active 144 DOM
4. 2026-06-15
   days on market $165,000 Active 143 DOM
5. 2026-06-13
   days on market $165,000 Active 141 DOM
6. 2026-06-13
   days on market $165,000 Active 140 DOM
7. 2026-06-10
   days on market $165,000 Active 138 DOM
8. 2026-06-09
   days on market $165,000 Active 137 DOM
9. 2026-06-08
   days on market $165,000 Active 136 DOM
10. 2026-06-08
    days on market $165,000 Active 135 DOM
11. 2026-06-05
    days on market $165,000 Active 132 DOM
12. 2026-06-03
    days on market $165,000 Active 131 DOM
13. 2026-06-02
    days on market $165,000 Active 130 DOM
14. 2026-06-01
    days on market $165,000 Active 129 DOM
15. 2026-05-31
    days on market $165,000 Active 128 DOM
16. 2026-04-20
    price $165,000 1418-char remark

    Show marketing remark (1418 chars)

    Welcome to your Sarasota retreat in a highly desirable central location close to everything. This charming 2 bedroom, 2 bath corner condo on the second floor offers an ideal blend of comfort, convenience, and opportunity. The spacious layout provides a bright, open feel and is ready for your personal touches to truly make it your own. Enjoy Florida living year-round from your enclosed private balcony, perfect for morning coffee, quiet afternoons, or relaxed evenings with friends. The well-maintained community features a sparkling pool, making it easy to unwind and enjoy the sunshine just steps from your door. For golf enthusiasts, The Palms Golf Club at Forest Lakes is nearby, offering a picturesque setting to practice your swing. Downtown Sarasota is just a short drive away, where you'll find a wonderful array of shops, restaurants, and cultural attractions, while the Legacy Trail, just around the corner, is perfect for biking, walking, jogging, and enjoying the natural beauty of the area. Plus, the pristine beaches of Siesta Key and Lido Key are within easy reach as well. Rentals are allowed, making this an excellent option for investors. Whether you’re looking for a primary residence, a second home, or an income-producing property, this condo offers endless potential in one of Sarasota’s most convenient locations. Schedule your private showing today and envision the possibilities!

17. 2026-01-23
    listed $169,000 Active 1418-char remark

    Show marketing remark (1418 chars)

    Welcome to your Sarasota retreat in a highly desirable central location close to everything. This charming 2 bedroom, 2 bath corner condo on the second floor offers an ideal blend of comfort, convenience, and opportunity. The spacious layout provides a bright, open feel and is ready for your personal touches to truly make it your own. Enjoy Florida living year-round from your enclosed private balcony, perfect for morning coffee, quiet afternoons, or relaxed evenings with friends. The well-maintained community features a sparkling pool, making it easy to unwind and enjoy the sunshine just steps from your door. For golf enthusiasts, The Palms Golf Club at Forest Lakes is nearby, offering a picturesque setting to practice your swing. Downtown Sarasota is just a short drive away, where you'll find a wonderful array of shops, restaurants, and cultural attractions, while the Legacy Trail, just around the corner, is perfect for biking, walking, jogging, and enjoying the natural beauty of the area. Plus, the pristine beaches of Siesta Key and Lido Key are within easy reach as well. Rentals are allowed, making this an excellent option for investors. Whether you’re looking for a primary residence, a second home, or an income-producing property, this condo offers endless potential in one of Sarasota’s most convenient locations. Schedule your private showing today and envision the possibilities!

18. 2024-10-13
    historical
19. 2024-08-16
    listed $189,999 Active
20. 1996-05-01
    soldstatus $50,000
21. 1990-02-06
    soldstatus $55,000

ⓘ 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: $2,365 · $197/mo
• Projected year-2 tax: $2,365 · $197/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $25,796
• − Mortgage interest: −$8,957
• − Property taxes: −$2,365
• − Insurance: −$800
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$6,120
• − Depreciation: −$4,652
• Taxable loss: −$1,224
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $1,326/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 — Southgate

• Score: 71/100
• State rank: #397
• US rank: #7021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 14,795
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 34,013
• Household income: $80,795
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1676.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 8% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 10% German/W. Germanic 2% 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: —

Market trends

• HPI YoY: ▼ -426.24%
• Current HPI: 337.9799
• Rent YoY: ▼ -3.45%
• 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

+200.0% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-23 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-16 Listed $189,999 Stellar MLS as Distributed by MLS Grid
• 1996-05-01 Sold (Public Records) $50,000 Public Records
• 1990-02-06 Sold (Public Records) $55,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $2,365 · -1.9% YoY. Source: county tax records.