842 Bayport Way #842 · Longboat Key, FL 34228

$675,000

2 bd · 2.0 ba · 1,260 sqft · Condo public records · 62 Days on market

Built 1983 $1978/mo HOA · 35% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Appreciation +5.4/10.0
• Schools +5.4/10.0
• Cash flow +4.4/30.0
• 1% rule +3.4/10.0
• 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

Poised within the Gulf to Bay community of Bayport Beach and Tennis Club, 842 Bayport Way offers 1570 square feet of effortless indoor-outdoor living. This first floor corner residence brings added natural light and extra privacy, giving the feeling of a private home with the ease of low maintenance living. The open layout includes a spacious kitchen, a primary bedroom with office space, walk-in closet and ensuite bath with dual vanities, as well as convenient in-unit laundry, covered parking and private storage closet. A combined dining and living area opens to a screened lanai and extended brick patio. This is a favorite spot for morning coffee, afternoon siestas and al fresco dining watching sunset skies. A garden gate leads to a direct side path to deeded beach access across the road. For pet owners, Bayport is small-pet friendly, and this walk-out location makes dog-walking especially easy. Spanning 27 acres of exquisitely landscaped tropical grounds, Bayport is celebrated for its timeless Tim Seibert architecture, exceptional amenities, and easy resort lifestyle. Residents enjoy a heated Jr. Olympic pool, clubhouse, fitness center, tennis, bocce ball, and shelled walking paths. Along the bay shoreline, a fishing pier, kayak launch and storage is perfect for morning paddles or simply enjoying nature . On the Gulf side, 1,200 feet of deeded beach access, complete with loungers and umbrellas, makes enjoying Longboat Key’s famously uncrowded beaches effortless. The condo’s split floor plan works well for year round living or a seaside escape. A favorable rental policy offers excellent income opportunity. Located mid-key, Bayport keeps you close to shopping, daily conveniences, great island dining, and the vibrance of Sarasota, all while feeling tucked away and serene. Settle in and enjoy a slice of true paradise on Longboat Key.

Key facts

• Covered parking
• Walk-in closet
• Ensuite bath

Tags

• GULF TO BAY COMMUNITY
• EAT-IN KITCHEN
• WALK-IN CLOSET
• ENSUITE BATH
• IN-UNIT LAUNDRY
• COVERED PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $675k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (57.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $570k (15.6% below list).
• Recommended offer: $287k (57.5% below list) — sets the bar for cash-flow.
• Cap rate 3.1% 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; 4 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).
• This rent runs 43% of the median local income ($158k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask is 13962% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $300k; list at $675k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 35% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $286,894 (57.5% 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 62 days. Have you received any prior offers? Is the seller open to a 57% 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: 0.84% ✗
• Cap rate: 3.15%
• Cash-on-cash: -11.24%
• DSCR: 0.50
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.5%
• Equity multiple: 0.29×
• Total profit: $-134,909
• Equity at exit: $220,923

10-year hold

• IRR: -7.9%
• Equity multiple: 0.07×
• Total profit: $-176,357
• Equity at exit: $286,367

Cash invested: $189,000 (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 34228

• Home prices YoY: 0.3%
• Active inventory: 539
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $5,697 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$472 /mo · $5,662/yr
• Insurance: −$281
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,978
• Vacancy / Maint / Mgmt: −$1,196
• Net cashflow: $-2,197

Break-even live

Break-even rent $8,478

Max offer price $286,894

Occupancy floor —

Sensitivity live

Price	-10% $-1,815	-5% $-2,006	+0% $-2,197	+5% $-2,388	+10% $-2,579
Rent	-10% $-2,647	-5% $-2,422	+0% $-2,197	+5% $-1,972	+10% $-1,747
Rate	-1.0pp $-1,857	-0.5pp $-2,025	base $-2,197	+0.5pp $-2,372	+1.0pp $-2,550

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	16d	3	0.77mi
4485 Gulf of Mexico Dr #2 Longboat Key, FL	3.0	2.0	1576	$10,500	$6.66	24d	1	0.97mi
4340 Falmouth Dr Longboat Key, FL	2.0	2.0	1330	$3,000	$2.26	24d	1	1.05mi
4420 Exeter Dr #208 Longboat Key, FL	2.0	2.0	1168	$4,900	$4.20	24d	1	1.06mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-01
   days on market $675,000 Active 62 DOM
2. 2026-05-31
   days on market $675,000 Active 61 DOM
3. 2026-05-19
   price $3,975
4. 2026-04-14
   listed $4,800
5. 2026-04-01
   listed $675,000 Active 1874-char remark

   Show marketing remark (1874 chars)

   Poised within the Gulf to Bay community of Bayport Beach and Tennis Club, 842 Bayport Way offers 1570 square feet of effortless indoor-outdoor living. This first floor corner residence brings added natural light and extra privacy, giving the feeling of a private home with the ease of low maintenance living. The open layout includes a spacious kitchen, a primary bedroom with office space, walk-in closet and ensuite bath with dual vanities, as well as convenient in-unit laundry, covered parking and private storage closet. A combined dining and living area opens to a screened lanai and extended brick patio. This is a favorite spot for morning coffee, afternoon siestas and al fresco dining watching sunset skies. A garden gate leads to a direct side path to deeded beach access across the road. For pet owners, Bayport is small-pet friendly, and this walk-out location makes dog-walking especially easy. Spanning 27 acres of exquisitely landscaped tropical grounds, Bayport is celebrated for its timeless Tim Seibert architecture, exceptional amenities, and easy resort lifestyle. Residents enjoy a heated Jr. Olympic pool, clubhouse, fitness center, tennis, bocce ball, and shelled walking paths. Along the bay shoreline, a fishing pier, kayak launch and storage is perfect for morning paddles or simply enjoying nature . On the Gulf side, 1,200 feet of deeded beach access, complete with loungers and umbrellas, makes enjoying Longboat Key’s famously uncrowded beaches effortless. The condo’s split floor plan works well for year round living or a seaside escape. A favorable rental policy offers excellent income opportunity. Located mid-key, Bayport keeps you close to shopping, daily conveniences, great island dining, and the vibrance of Sarasota, all while feeling tucked away and serene. Settle in and enjoy a slice of true paradise on Longboat Key.

6. 2025-11-12
   historical $4,500
7. 2025-11-02
   listed $4,500
8. 2025-10-09
   historical $4,500
9. 2025-09-03
   listed $4,500
10. 2025-08-13
    historical $5,000
11. 2025-02-22
    listed $5,000
12. 2024-06-05
    historical $3,500
13. 2022-11-30
    listed $3,500
14. 2009-07-15
    soldstatus $300,000 1164-char remark

    Show marketing remark (1164 chars)

    This "freshly painted" corner residence is situated in a very private sunny location of Bayport Beach and Tennis Club, a friendly community of 136 residences on 27 exquisitely landscaped acres and noted for its recreational and social activities. The walled privacy garden is great for the gardener or for just relaxing and enjoying the privacy of the outdoors. Resort style amenities of Bayport are: clubhouse with full kitchen for your use for meetings, private parties and social functions. 1200 feet of beach with lounges and chairs for the owners use, 4 Har tru tennis courts, one of the largest pools on the island an Olympic sized 75x36 and maintained year round at a temperature of 82 and 85 degress, well equipped fitness center, fishing pier, Kayak storage, nature trail and Bocce Court. And you don't have to leave your pet, small pets are welcome and there are wonderful nature trails for walking and exercise. Pet policy: small dog or cat 15" at the shoulder. Furnishings left for staging are negotiable to purchase. The virtual tour has added enhanced furniture for the tour. MOTIVATED OWNER. .. WILL DO FINANCING. .. CALL FOR DETAILS.

15. 2008-12-02
    listed $389,000 1164-char remark

    Show marketing remark (1164 chars)

    This "freshly painted" corner residence is situated in a very private sunny location of Bayport Beach and Tennis Club, a friendly community of 136 residences on 27 exquisitely landscaped acres and noted for its recreational and social activities. The walled privacy garden is great for the gardener or for just relaxing and enjoying the privacy of the outdoors. Resort style amenities of Bayport are: clubhouse with full kitchen for your use for meetings, private parties and social functions. 1200 feet of beach with lounges and chairs for the owners use, 4 Har tru tennis courts, one of the largest pools on the island an Olympic sized 75x36 and maintained year round at a temperature of 82 and 85 degress, well equipped fitness center, fishing pier, Kayak storage, nature trail and Bocce Court. And you don't have to leave your pet, small pets are welcome and there are wonderful nature trails for walking and exercise. Pet policy: small dog or cat 15" at the shoulder. Furnishings left for staging are negotiable to purchase. The virtual tour has added enhanced furniture for the tour. MOTIVATED OWNER. .. WILL DO FINANCING. .. CALL FOR DETAILS.

16. 1993-06-03
    soldstatus $148,800
17. 1993-06-03
    soldstatus $148,800
18. 1991-09-09
    soldstatus $133,500

ⓘ 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: $5,662 · $472/mo
• Projected year-2 tax: $5,662 · $472/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,361
• − Mortgage interest: −$37,810
• − Property taxes: −$5,662
• − Insurance: −$8,494
• − Repairs & maintenance: −$5,469
• − Management: −$5,469
• − HOA: −$23,736
• − Depreciation: −$19,636
• Taxable loss: −$37,915
• Est. tax savings @ 24.0%: +$9,100
• After-tax cash flow: $-17,264/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

-97.0% since first listed

16 events — show timeline

• 2026-05-19 Price Changed $3,975 STELLARMLS
• 2026-04-14 Listed for Rent $4,800 STELLARMLS
• 2026-04-01 Listed $675,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-12 Rental Removed $4,500 STELLARMLS
• 2025-11-02 Listed for Rent $4,500 STELLARMLS
• 2025-10-09 Rental Removed $4,500 STELLARMLS
• 2025-09-03 Listed for Rent $4,500 STELLARMLS
• 2025-08-13 Rental Removed $5,000 STELLARMLS
• 2025-02-22 Listed for Rent $5,000 STELLARMLS
• 2024-06-05 Rental Removed $3,500 STELLARMLS
• 2022-11-30 Listed for Rent $3,500 STELLARMLS
• 2009-07-15 Sold (MLS) $300,000 Stellar MLS as Distributed by MLS Grid
• 2008-12-02 Listed $389,000 Stellar MLS as Distributed by MLS Grid
• 1993-06-03 Sold (Public Records) $148,800 Public Records
• 1993-06-03 Sold (Public Records) $148,800 Public Records
• 1991-09-09 Sold (Public Records) $133,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $5,662 · -2.5% YoY. Source: county tax records.