2611 Pine Lake Ter Unit A · Sarasota, FL 34237

$100,000

1 bd · 1.0 ba · 739 sqft · Condo public records · 65 Days on market

Built 1974 $560/mo HOA · 36% 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 +16.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +5.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this charming 1-bedroom, 1-bathroom condominium ideally situated just minutes from vibrant downtown Sarasota, at the convenient intersection of Tuttle Avenue and Fruitville Road. This appealing property presents an excellent opportunity for a new owner-occupant or savvy investor. It is currently tenant-occupied at $1,350 per month, with the lease renewal scheduled for March 5, 2027. Recently renovated to modern standards, the unit features stylish new tile flooring throughout, contemporary kitchen cabinetry, and a fully remodeled bathroom highlighted by a luxurious walk-in shower. Residents enjoy the benefits of a well-maintained community, where HOA fees cover essential utilities including water, as well as access to desirable amenities such as two swimming pools, a clubhouse, tennis courts, and professional upkeep of common areas.

Key facts

• $560 HOA
• Community pool
• Built 1974

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $60 ($714/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

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 (-5.0%/yr); 179 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 65 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $28k; list at $100k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% 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 $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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?
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: 1.54% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 5.4

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: -17.6%
• Equity multiple: 0.41×
• Total profit: $-16,625
• Equity at exit: $14,910

10-year hold

• IRR: -24.2%
• Equity multiple: 0.08×
• Total profit: $-25,812
• Equity at exit: $8,646

Cash invested: $28,000 (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 34237

• Rents YoY: -5.0%
• Active inventory: 179
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,544 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$34 /mo · $406/yr
• Insurance: −$42
• HOA: −$560
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $60

Break-even live

Break-even rent $1,468

Max offer price $100,000

Occupancy floor 91%

Sensitivity live

Price	-10% $116	-5% $88	+0% $60	+5% $31	+10% $3
Rent	-10% $-62	-5% $-1	+0% $60	+5% $121	+10% $181
Rate	-1.0pp $110	-0.5pp $85	base $60	+0.5pp $34	+1.0pp $7

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $560 · $6,720/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $100,000 Active 65 DOM
2. 2026-06-18
   days on market $100,000 Active 62 DOM
3. 2026-06-17
   days on market $100,000 Active 61 DOM
4. 2026-06-16
   days on market $100,000 Active 60 DOM
5. 2026-06-15
   days on market $100,000 Active 59 DOM
6. 2026-06-13
   days on market $100,000 Active 57 DOM
7. 2026-06-13
   days on market $100,000 Active 56 DOM
8. 2026-06-10
   days on market $100,000 Active 54 DOM
9. 2026-06-09
   days on market $100,000 Active 53 DOM
10. 2026-06-08
    days on market $100,000 Active 52 DOM
11. 2026-06-08
    days on market $100,000 Active 51 DOM
12. 2026-06-05
    days on market $100,000 Active 48 DOM
13. 2026-06-03
    days on market $100,000 Active 47 DOM
14. 2026-06-02
    days on market $100,000 Active 46 DOM
15. 2026-06-01
    days on market $100,000 Active 45 DOM
16. 2026-05-31
    days on market $100,000 Active 44 DOM
17. 2026-04-17
    listed $100,000 Active 853-char remark

    Show marketing remark (853 chars)

    Discover this charming 1-bedroom, 1-bathroom condominium ideally situated just minutes from vibrant downtown Sarasota, at the convenient intersection of Tuttle Avenue and Fruitville Road. This appealing property presents an excellent opportunity for a new owner-occupant or savvy investor. It is currently tenant-occupied at $1,350 per month, with the lease renewal scheduled for March 5, 2027. Recently renovated to modern standards, the unit features stylish new tile flooring throughout, contemporary kitchen cabinetry, and a fully remodeled bathroom highlighted by a luxurious walk-in shower. Residents enjoy the benefits of a well-maintained community, where HOA fees cover essential utilities including water, as well as access to desirable amenities such as two swimming pools, a clubhouse, tennis courts, and professional upkeep of common areas.

18. 2025-11-20
    historical
19. 2025-11-04
    price $105,000
20. 2025-09-25
    price $81,000
21. 2025-08-28
    price $86,500
22. 2025-08-13
    listed $89,500 Active
23. 1998-02-03
    soldstatus $27,500
24. 1990-02-09
    soldstatus $29,900

ⓘ 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: $406 · $34/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$424/yr (+$35/mo · 104.4%)

ⓘ 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: $18,523
• − Mortgage interest: −$5,602
• − Property taxes: −$406
• − Insurance: −$500
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − HOA: −$6,720
• − Depreciation: −$2,909
• Taxable loss: −$577
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $853/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): 17,367
• Household income: $66,762
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 902.0

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 0.59)
• Race & ethnicity: White 55% Hispanic / Latino 30% Two or more races 18% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1% Cuban 5%
• Common ancestry: Romanian 2% Lithuanian 1% Hispanic 1%
• Foreign-born: 21% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 23% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -345.08%
• Current HPI: 370.7565
• Rent YoY: ▼ -5.03%
• 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

+234.4% since first listed

8 events — show timeline

• 2026-04-17 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-25 Price Changed $81,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-28 Price Changed $86,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Listed $89,500 Stellar MLS as Distributed by MLS Grid
• 1998-02-03 Sold (Public Records) $27,500 Public Records
• 1990-02-09 Sold (Public Records) $29,900 Public Records

Property tax history

+4.7%/yr

Latest (2025): $406 · +11.4% YoY. Source: county tax records.