706 Bayport Way #706 · Longboat Key, FL 34228

$739,000

2 bd · 2.0 ba · 1,601 sqft · Condo public records · 61 Days on market

Built 1980 $462/sqft · 12% below area Est $842k · 12% under $1978/mo HOA · 32% of rent

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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).

• ARV discount +13.0/15.0
• Appreciation +5.4/10.0
• Schools +5.4/10.0
• Cash flow +4.5/30.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

This stylish turnkey furnished beach retreat at Bayport Beach & Tennis Club is the perfect blend of classy with a modern flair. Before entering the home take note of the huge 16’ x 13’ outdoor deck where you can enjoy a partial view of the Gulf. It's a great place to start your day with a cup of morning coffee, or enjoy a nice meal in the evening, and catch the spectacular colors of the sky as the sun sets! Step inside to this inviting, beautifully appointed 2-bedroom 2-bath condominium with luxury vinyl flooring and crown molding throughout. The entire living/ dining areas, lanai, both bedrooms and second bathroom have all been recently updated. Giving the condo a fresh polished appearance accentuated by recessed glass display shelving and an abundance of recessed lights. The depth of workmanship in the updates carries onto the stylized door moldings into the primary bedroom. All popcorn has been removed! The kitchen offers a coffee bar, stainless steel appliances, a pantry, a nice arrangement of cabinets, and granite countertops open to the dining room and living room, perfect for entertaining. Take in the view of the lush tropical landscape and gorgeous pond right below the lanai that is open to the living room. Perfect for a Murphy bed, extra living space, a reading nook or your second favorite spot for your morning coffee as the sun rises. The primary bedroom offers an additional 6’ by 6’ area that is perfect for an office desk looking out over nature. The primary also offers a walk-in closet and a generously sized ensuite bath with dual vanities. Bayport Beach & Tennis Club is a gem with 27 tropical landscaped acres and 1200 feet of private Gulf waterfront deeded access. Where you can grab a chair and umbrella and soak up the sun, or take in the breathtaking sunsets. Enjoy Sarasota Bay just outside your door and stroll to the private dock where you can fish, kayak, paddleboard, and watch for the manatees and dolphins as they cruise by. This community also offers a clubhouse, fitness center, 4 Har-Ter tennis courts, golf practice net, and a Junior-Olympic heated pool. Bayport Beach & Tennis Club consists of 17 buildings built between 1979 and 1983. Designed by architect Tim Seibert of the Sarasota School of Architecture. Located mid-key with a wealth of attractions moments away, including Bayfront Park, steps away, offering Pickle Ball, Basketball, Shuffleboard courts, playground, bike paths, kayak launch and Publix 2 miles away.

Key facts

• Recently updated
• Community clubhouse
• Granite countertops

Tags

• PARTIAL VIEW OF THE GULF
• RECENTLY UPDATED
• GRANITE COUNTERTOPS
• LUSH TROPICAL LANDSCAPE
• PRIVATE GULF WATERFRONT
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $739k.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (55.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $611k (17.3% below list).
• Recommended offer: $329k (55.4% below list) — sets the bar for cash-flow.
• Cap rate 3.2% 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: schools C-, housing C-, amenities 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: 539 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $6,113/mo this rent would consume 46% of the median local household income ($158k/yr) (locally 98% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($5k loan paydown + $5k appreciation (0.7% local appreciation)).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($695k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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 $400k; list at $739k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 32% 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 $329,245 (55.4% 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 61 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. 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?
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 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: 0.83% ✗
• Cap rate: 3.22%
• Cash-on-cash: -10.98%
• DSCR: 0.51
• GRM: 10.1

CMA / ARV

• ARV (median comp): $841,754
• List price: $739,000
• Delta: -12.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.0%
• Equity multiple: 0.31×
• Total profit: $-142,354
• Equity at exit: $241,869

10-year hold

• IRR: -7.4%
• Equity multiple: 0.12×
• Total profit: $-181,857
• Equity at exit: $313,519

Cash invested: $206,920 (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: 539
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $6,113 high
• Mortgage (P&I): −$3,875
• Tax from tax record: −$561 /mo · $6,727/yr
• Insurance: −$308
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,978
• Vacancy / Maint / Mgmt: −$1,284
• Net cashflow: $-2,320

Break-even live

Break-even rent $9,049

Max offer price $329,245

Occupancy floor —

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: $184,750
• Closing costs: $22,170
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 Gulf of Mexico Dr Longboat Key, FL	2.0–3.0	2.0–2.5	1373	$5,500	$4.00	15d	3	0.71mi
4485 Gulf of Mexico Dr #2 Longboat Key, FL	3.0	2.0	1576	$10,500	$6.66	23d	1	0.92mi
4340 Falmouth Dr Longboat Key, FL	2.0	2.0	1330	$3,000	$2.26	23d	1	0.99mi
4420 Exeter Dr #208 Longboat Key, FL	2.0	2.0	1168	$4,900	$4.20	23d	1	1.00mi
4825 Gulf of Mexico Dr #201 Longboat Key, FL	2.0	2.0	1393	$7,800	$5.60	23d	1	1.48mi

HOA detail condo

• Monthly dues: $1,978 · $23,736/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-08
   statusdays on market $739,000 Pending 61 DOM
2. 2026-06-08
   days on market $739,000 Active 60 DOM
3. 2026-06-05
   days on market $739,000 Active 57 DOM
4. 2026-06-03
   days on market $739,000 Active 56 DOM
5. 2026-06-02
   days on market $739,000 Active 55 DOM
6. 2026-06-01
   days on market $739,000 Active 54 DOM
7. 2026-05-31
   days on market $739,000 Active 53 DOM
8. 2026-04-08
   listed $739,000 Active 2522-char remark

   Show marketing remark (2522 chars)

   This stylish turnkey furnished beach retreat at Bayport Beach & Tennis Club is the perfect blend of classy with a modern flair. Before entering the home take note of the huge 16’ x 13’ outdoor deck where you can enjoy a partial view of the Gulf. It's a great place to start your day with a cup of morning coffee, or enjoy a nice meal in the evening, and catch the spectacular colors of the sky as the sun sets! Step inside to this inviting, beautifully appointed 2-bedroom 2-bath condominium with luxury vinyl flooring and crown molding throughout. The entire living/ dining areas, lanai, both bedrooms and second bathroom have all been recently updated. Giving the condo a fresh polished appearance accentuated by recessed glass display shelving and an abundance of recessed lights. The depth of workmanship in the updates carries onto the stylized door moldings into the primary bedroom. All popcorn has been removed! The kitchen offers a coffee bar, stainless steel appliances, a pantry, a nice arrangement of cabinets, and granite countertops open to the dining room and living room, perfect for entertaining. Take in the view of the lush tropical landscape and gorgeous pond right below the lanai that is open to the living room. Perfect for a Murphy bed, extra living space, a reading nook or your second favorite spot for your morning coffee as the sun rises. The primary bedroom offers an additional 6’ by 6’ area that is perfect for an office desk looking out over nature. The primary also offers a walk-in closet and a generously sized ensuite bath with dual vanities. Bayport Beach & Tennis Club is a gem with 27 tropical landscaped acres and 1200 feet of private Gulf waterfront deeded access. Where you can grab a chair and umbrella and soak up the sun, or take in the breathtaking sunsets. Enjoy Sarasota Bay just outside your door and stroll to the private dock where you can fish, kayak, paddleboard, and watch for the manatees and dolphins as they cruise by. This community also offers a clubhouse, fitness center, 4 Har-Ter tennis courts, golf practice net, and a Junior-Olympic heated pool. Bayport Beach & Tennis Club consists of 17 buildings built between 1979 and 1983. Designed by architect Tim Seibert of the Sarasota School of Architecture. Located mid-key with a wealth of attractions moments away, including Bayfront Park, steps away, offering Pickle Ball, Basketball, Shuffleboard courts, playground, bike paths, kayak launch and Publix 2 miles away.

9. 2026-03-26
   historical $6,000
10. 2026-02-04
    listed $785,000 Active
11. 2025-08-01
    listed $6,000
12. 2025-06-26
    historical $6,000
13. 2024-08-23
    price $6,000
14. 2023-11-29
    listed $5,000
15. 2020-12-07
    soldstatus $400,000
16. 2020-11-27
    soldstatus $400,000 Sold
17. 2020-09-14
    status Pending
18. 2020-09-02
    status Active
19. 2020-08-26
    status Pending
20. 2020-08-05
    price $445,000
21. 2020-07-02
    price $465,000
22. 2020-03-02
    listed $495,000 Active
23. 2019-07-30
    historical
24. 2019-02-02
    price $535,000
25. 2018-12-10
    listed $550,000 Active
26. 1997-05-02
    soldstatus $160,000

ⓘ 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: $6,727 · $561/mo
• Projected year-2 tax: $6,727 · $561/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 · 97% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,350
• − Mortgage interest: −$41,395
• − Property taxes: −$6,727
• − Insurance: −$8,814
• − Repairs & maintenance: −$5,868
• − Management: −$5,868
• − HOA: −$23,736
• − Depreciation: −$21,498
• Taxable loss: −$40,556
• Est. tax savings @ 24.0%: +$9,733
• After-tax cash flow: $-18,101/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 — 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 (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 (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 · 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: ▲ 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

+361.9% since first listed

19 events — show timeline

• 2026-04-08 Listed $739,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Rental Removed $6,000 STELLARMLS
• 2026-02-04 Listed $785,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-01 Listed for Rent $6,000 STELLARMLS
• 2025-06-26 Rental Removed $6,000 STELLARMLS
• 2024-08-23 Price Changed $6,000 STELLARMLS
• 2023-11-29 Listed for Rent $5,000 STELLARMLS
• 2020-12-07 Sold (Public Records) $400,000 Public Records
• 2020-11-27 Sold (MLS) $400,000 Stellar MLS as Distributed by MLS Grid
• 2020-09-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-09-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-08-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-08-05 Price Changed $445,000 Stellar MLS as Distributed by MLS Grid
• 2020-07-02 Price Changed $465,000 Stellar MLS as Distributed by MLS Grid
• 2020-03-02 Listed $495,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-02-02 Price Changed $535,000 Stellar MLS as Distributed by MLS Grid
• 2018-12-10 Listed $550,000 Stellar MLS as Distributed by MLS Grid
• 1997-05-02 Sold (Public Records) $160,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,727 · +1.8% YoY. Source: county tax records.