3101 Bee Ridge Rd #208 · Southgate, FL 34239

$122,500

2 bd · 1.0 ba · 728 sqft · Condo public records · 192 Days on market

Built 1963 $432/mo HOA · 20% of rent

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MINUTES TO BEACH! If your looking for an easy lifestyle with low maintenance, close to the beach and close to downtown this solid block 2nd floor unit is for you. Kitchen and bath have just been updated and include new stainless appliances. Split system a/c and heat so low utility cost plus water/sewer and trash are included in maintenance fee. Amenities include community pool, club house, laundry and storage. Legacy bike and walking trail within biking distance.

Key facts

• Community pool
• Stainless appliances
• Club house

Tags

• UPDATED KITCHEN AND BATH
• STAINLESS APPLIANCES
• COMMUNITY POOL
• CLUB HOUSE
• BIKE AND WALKING TRAIL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $122k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $108k (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 rising (+2.6%/yr); 289 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 $847 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $122k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $107,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1963 — 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: 1.77% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.62% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.27×
• Total profit: $9,111
• Equity at exit: $18,265

10-year hold

• IRR: 15.9%
• Equity multiple: 2.27×
• Total profit: $43,704
• Equity at exit: $10,592

Cash invested: $34,300 (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 34239

• Rents YoY: 2.6%
• Active inventory: 289
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,167 medium
• Mortgage (P&I): −$642
• Tax from tax record: −$123 /mo · $1,481/yr
• Insurance: −$51
• HOA: −$432
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $463

Break-even live

Break-even rent $1,581

Max offer price $122,500

Occupancy floor 74%

Sensitivity live

Price	-10% $533	-5% $498	+0% $463	+5% $429	+10% $394
Rent	-10% $292	-5% $378	+0% $463	+5% $549	+10% $634
Rate	-1.0pp $525	-0.5pp $494	base $463	+0.5pp $432	+1.0pp $399

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $432 · $5,184/yr
• Likely covers: watersewertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $122,500 Active 192 DOM
2. 2026-06-17
   pricedays on market $122,500 Active 191 DOM
3. 2026-06-16
   days on market $125,000 Active 190 DOM
4. 2026-06-15
   days on market $125,000 Active 189 DOM
5. 2026-06-13
   days on market $125,000 Active 187 DOM
6. 2026-06-13
   days on market $125,000 Active 186 DOM
7. 2026-06-10
   days on market $125,000 Active 184 DOM
8. 2026-06-09
   days on market $125,000 Active 183 DOM
9. 2026-06-08
   days on market $125,000 Active 181 DOM
10. 2026-06-05
    days on market $125,000 Active 178 DOM
11. 2026-06-03
    days on market $125,000 Active 177 DOM
12. 2026-06-02
    days on market $125,000 Active 176 DOM
13. 2026-06-01
    days on market $125,000 Active 175 DOM
14. 2026-05-31
    days on market $125,000 Active 174 DOM
15. 2026-03-19
    price $125,000 468-char remark

    Show marketing remark (468 chars)

    MINUTES TO BEACH! If your looking for an easy lifestyle with low maintenance, close to the beach and close to downtown this solid block 2nd floor unit is for you. Kitchen and bath have just been updated and include new stainless appliances. Split system a/c and heat so low utility cost plus water/sewer and trash are included in maintenance fee. Amenities include community pool, club house, laundry and storage. Legacy bike and walking trail within biking distance.

16. 2026-02-11
    price $129,995 468-char remark

    Show marketing remark (468 chars)

    MINUTES TO BEACH! If your looking for an easy lifestyle with low maintenance, close to the beach and close to downtown this solid block 2nd floor unit is for you. Kitchen and bath have just been updated and include new stainless appliances. Split system a/c and heat so low utility cost plus water/sewer and trash are included in maintenance fee. Amenities include community pool, club house, laundry and storage. Legacy bike and walking trail within biking distance.

17. 2026-01-15
    price $134,995 468-char remark

    Show marketing remark (468 chars)

    MINUTES TO BEACH! If your looking for an easy lifestyle with low maintenance, close to the beach and close to downtown this solid block 2nd floor unit is for you. Kitchen and bath have just been updated and include new stainless appliances. Split system a/c and heat so low utility cost plus water/sewer and trash are included in maintenance fee. Amenities include community pool, club house, laundry and storage. Legacy bike and walking trail within biking distance.

18. 2025-12-08
    listed $139,900 Active 468-char remark

    Show marketing remark (468 chars)

    MINUTES TO BEACH! If your looking for an easy lifestyle with low maintenance, close to the beach and close to downtown this solid block 2nd floor unit is for you. Kitchen and bath have just been updated and include new stainless appliances. Split system a/c and heat so low utility cost plus water/sewer and trash are included in maintenance fee. Amenities include community pool, club house, laundry and storage. Legacy bike and walking trail within biking distance.

19. 2004-03-04
    soldstatus $46,000

ⓘ 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: $1,481 · $123/mo
• Projected year-2 tax: $1,481 · $123/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: $26,008
• − Mortgage interest: −$6,862
• − Property taxes: −$1,481
• − Insurance: −$612
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$5,184
• − Depreciation: −$3,564
• Taxable income: $4,143
• Est. tax owed @ 24.0%: −$994
• After-tax cash flow: $4,565/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

• Census place: Southgate, FL
• County: Sarasota County · 448,376 people
• City population: 14,795
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 14,635
• Household income: $80,923
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 444.0

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 12% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 11% German/W. Germanic 1% 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: ▼ -623.50%
• Current HPI: 377.4184
• Rent YoY: ▲ 2.62%
• 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

+171.7% since first listed

5 events — show timeline

• 2026-03-19 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $129,995 Stellar MLS as Distributed by MLS Grid
• 2026-01-15 Price Changed $134,995 Stellar MLS as Distributed by MLS Grid
• 2025-12-08 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2004-03-04 Sold (Public Records) $46,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,481 · +6.7% YoY. Source: county tax records.