3983 Maceachen Blvd #432 · South Gate Ridge, FL 34233

$119,000

2 bd · 2.0 ba · 978 sqft · Condo public records · 443 Days on market

Built 1978 $615/mo HOA · 29% of rent ↓ 21% since listing

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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 +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Let's talk convenience: this 55+ and better condominium complex is a short walk to grocery stores, banks and other shopping. It is a short drive to the world famous Siesta Key Beach, downtown Sarasota and I-75. This 3rd story unit provides privacy and peace of mind but still accessible via elevator or nearby stairs. The home has recently undergone a TERRIFIC face lift to include a practically new kitchen from the cabinets, counters, sink, dishwasher and stainless steel refrigerator and double oven range as well as a new ceiling treatment. Most rooms have a fresh coat of neutral paint that are ready for your designer touches, the bedrooms and living room have new carpet and the dining area laminate wood floors. The master bedroom includes a walk in closet that already has some built ins for storage. The master bath includes extra storage and walk in shower. Your guests will appreciate their own private area when you use the pocket door to close off the guest bedroom and guest bath. The lanai has new indoor/outdoor carpeting just waiting for your chairs so you can watch the birds play in the trees and squirrels in the grass - with the park like setting of this greenbelt view - it's almost like you're in a tree house! The lanai faces south so you won't have to deal with the sun heating up the house. There is no renting of units or pets allowed in this complex.

Key facts

• Laundry room
• Elevator
• $615 HOA

Tags

• HEATED COMMUNITY POOL
• CLUBHOUSE WITH KITCHEN
• LAUNDRY ROOM
• ADDITIONAL STORAGE FACILITIES
• ELEVATOR
• DESIGNATED CARPORT SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#394 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: 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 soft (-1.4%/yr); 159 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 34% of the median local income ($75k/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 $823 of loan paydown is wiped out by about $4k 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 443 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $50k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 443 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 1978 — 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. 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?
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 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: 1.78% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.35
• GRM: 4.7

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: -9.4%
• Equity multiple: 0.67×
• Total profit: $-10,973
• Equity at exit: $17,743

10-year hold

• IRR: -8.5%
• Equity multiple: 0.59×
• Total profit: $-13,704
• Equity at exit: $10,289

Cash invested: $33,320 (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 34233

• Rents YoY: -1.4%
• Active inventory: 159
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,121 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$165 /mo · $1,982/yr
• Insurance: −$50
• HOA: −$615
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $221

Break-even live

Break-even rent $1,840

Max offer price $119,000

Occupancy floor 85%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $615 · $7,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-03-26
   status Pending
2. 2026-02-26
   price $119,000
3. 2026-02-26
   price $118,000
4. 2025-11-18
   price $139,500
5. 2025-08-23
   price $139,900
6. 2025-07-02
   price $149,900
7. 2025-05-07
   price $159,000
8. 2025-02-21
   price $165,000
9. 2025-01-07
   listed $169,000 Active
10. 2016-06-03
    soldstatus $90,000 Sold 1379-char remark

    Show marketing remark (1379 chars)

    Let's talk convenience: this 55+ and better condominium complex is a short walk to grocery stores, banks and other shopping. It is a short drive to the world famous Siesta Key Beach, downtown Sarasota and I-75. This 3rd story unit provides privacy and peace of mind but still accessible via elevator or nearby stairs. The home has recently undergone a TERRIFIC face lift to include a practically new kitchen from the cabinets, counters, sink, dishwasher and stainless steel refrigerator and double oven range as well as a new ceiling treatment. Most rooms have a fresh coat of neutral paint that are ready for your designer touches, the bedrooms and living room have new carpet and the dining area laminate wood floors. The master bedroom includes a walk in closet that already has some built ins for storage. The master bath includes extra storage and walk in shower. Your guests will appreciate their own private area when you use the pocket door to close off the guest bedroom and guest bath. The lanai has new indoor/outdoor carpeting just waiting for your chairs so you can watch the birds play in the trees and squirrels in the grass - with the park like setting of this greenbelt view - it's almost like you're in a tree house! The lanai faces south so you won't have to deal with the sun heating up the house. There is no renting of units or pets allowed in this complex.

11. 2016-05-05
    status Pending 1379-char remark

    Show marketing remark (1379 chars)

    Let's talk convenience: this 55+ and better condominium complex is a short walk to grocery stores, banks and other shopping. It is a short drive to the world famous Siesta Key Beach, downtown Sarasota and I-75. This 3rd story unit provides privacy and peace of mind but still accessible via elevator or nearby stairs. The home has recently undergone a TERRIFIC face lift to include a practically new kitchen from the cabinets, counters, sink, dishwasher and stainless steel refrigerator and double oven range as well as a new ceiling treatment. Most rooms have a fresh coat of neutral paint that are ready for your designer touches, the bedrooms and living room have new carpet and the dining area laminate wood floors. The master bedroom includes a walk in closet that already has some built ins for storage. The master bath includes extra storage and walk in shower. Your guests will appreciate their own private area when you use the pocket door to close off the guest bedroom and guest bath. The lanai has new indoor/outdoor carpeting just waiting for your chairs so you can watch the birds play in the trees and squirrels in the grass - with the park like setting of this greenbelt view - it's almost like you're in a tree house! The lanai faces south so you won't have to deal with the sun heating up the house. There is no renting of units or pets allowed in this complex.

12. 2016-05-02
    listed $94,900 Active 1379-char remark

    Show marketing remark (1379 chars)

    Let's talk convenience: this 55+ and better condominium complex is a short walk to grocery stores, banks and other shopping. It is a short drive to the world famous Siesta Key Beach, downtown Sarasota and I-75. This 3rd story unit provides privacy and peace of mind but still accessible via elevator or nearby stairs. The home has recently undergone a TERRIFIC face lift to include a practically new kitchen from the cabinets, counters, sink, dishwasher and stainless steel refrigerator and double oven range as well as a new ceiling treatment. Most rooms have a fresh coat of neutral paint that are ready for your designer touches, the bedrooms and living room have new carpet and the dining area laminate wood floors. The master bedroom includes a walk in closet that already has some built ins for storage. The master bath includes extra storage and walk in shower. Your guests will appreciate their own private area when you use the pocket door to close off the guest bedroom and guest bath. The lanai has new indoor/outdoor carpeting just waiting for your chairs so you can watch the birds play in the trees and squirrels in the grass - with the park like setting of this greenbelt view - it's almost like you're in a tree house! The lanai faces south so you won't have to deal with the sun heating up the house. There is no renting of units or pets allowed in this complex.

13. 2015-10-27
    historical
14. 2015-10-21
    status Pending
15. 2015-10-14
    price $55,000
16. 2015-10-10
    listed $59,900 Active
17. 2005-09-08
    soldstatus $149,900
18. 2005-08-31
    soldstatus $149,900
19. 2005-07-12
    listed $149,900

ⓘ 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: $1,982 · $165/mo
• Projected year-2 tax: $1,982 · $165/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 · 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: $25,447
• − Mortgage interest: −$6,666
• − Property taxes: −$1,982
• − Insurance: −$595
• − Repairs & maintenance: −$2,036
• − Management: −$2,036
• − HOA: −$7,380
• − Depreciation: −$3,462
• Taxable income: $1,291
• Est. tax owed @ 24.0%: −$310
• After-tax cash flow: $2,348/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 Gate Ridge

• Score: 71/100
• State rank: #394
• US rank: #6987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Gate Ridge, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 19,123
• Household income: $75,394
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 653.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -281.79%
• Current HPI: 258.6836
• Rent YoY: ▼ -1.35%
• 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

-20.6% since first listed

19 events — show timeline

• 2026-03-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-18 Price Changed $139,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-23 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-07 Price Changed $159,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-21 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-07 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2016-06-03 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2016-05-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-05-02 Listed $94,900 Stellar MLS as Distributed by MLS Grid
• 2015-10-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-10-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-10-14 Price Changed $55,000 Stellar MLS as Distributed by MLS Grid
• 2015-10-10 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2005-09-08 Sold (Public Records) $149,900 Public Records
• 2005-08-31 Sold (MLS) $149,900 Stellar MLS as Distributed by MLS Grid
• 2005-07-12 Listed $149,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+10.2%/yr

Latest (2025): $1,982 · +232.5% YoY. Source: county tax records.