4382 Madeira Ct #3361 · Bee Ridge, FL 34233

$178,000

2 bd · 2.0 ba · 1,063 sqft · Condo public records · 601 Days on market

Built 1988 $513/mo HOA · 24% 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).

• Cash flow +11.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

Key facts

• $513 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $-70 ($-836/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (6.9% below list).
• Meets the 1% rule at list price ($2k rent vs $178k).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#370 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment 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.
• Zoned schools: Ashton Elementary School (math 89% / reading 87%, grade A+, #18 of 2,144 statewide, top 1%, 1,046 students, 28% FRL); Sarasota Middle School (math 82% / reading 78%, grade A+, #21 of 571 statewide, top 4%, 1,278 students, 26% FRL); Sarasota High School (math 53% / reading 59%, grade C, #131 of 667 statewide, top 20%, 2,528 students, 43% FRL).
• Market conditions: Rents soft (-1.4%/yr); 163 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 $1k of loan paydown is wiped out by about $5k 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 601 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $91k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $139k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,640 (12.0% 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 601 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 1.19% ✓
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 7.0

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: -23.8%
• Equity multiple: 0.21×
• Total profit: $-39,163
• Equity at exit: $26,540

10-year hold

• IRR: -39.4%
• Equity multiple: -0.25×
• Total profit: $-62,474
• Equity at exit: $15,390

Cash invested: $49,840 (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: 163
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$229 /mo · $2,748/yr
• Insurance: −$74
• HOA: −$513
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $-70

Break-even live

Break-even rent $2,215

Max offer price $165,690

Occupancy floor 98%

Sensitivity live

Price	-10% $31	-5% $-19	+0% $-70	+5% $-120	+10% $-170
Rent	-10% $-238	-5% $-154	+0% $-70	+5% $14	+10% $98
Rate	-1.0pp $20	-0.5pp $-24	base $-70	+0.5pp $-116	+1.0pp $-163

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $513 · $6,156/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $178,000 Active 601 DOM
2. 2026-06-18
   days on market $178,000 Active 598 DOM
3. 2026-06-17
   days on market $178,000 Active 597 DOM
4. 2026-06-15
   days on market $178,000 Active 595 DOM
5. 2026-06-13
   days on market $178,000 Active 593 DOM
6. 2026-06-13
   days on market $178,000 Active 592 DOM
7. 2026-06-10
   days on market $178,000 Active 590 DOM
8. 2026-06-09
   days on market $178,000 Active 589 DOM
9. 2026-06-08
   days on market $178,000 Active 587 DOM
10. 2026-06-05
    days on market $178,000 Active 584 DOM
11. 2026-06-03
    days on market $178,000 Active 583 DOM
12. 2026-06-02
    days on market $178,000 Active 582 DOM
13. 2026-06-01
    days on market $178,000 Active 581 DOM
14. 2026-05-31
    days on market $178,000 Active 580 DOM
15. 2026-03-23
    price $178,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

16. 2025-12-17
    price $195,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

17. 2025-07-28
    price $219,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

18. 2025-04-17
    price $228,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

19. 2025-02-03
    price $249,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

20. 2024-10-28
    listed $269,000 Active 530-char remark

    Show marketing remark (530 chars)

    Welcome to this charming 2-bedroom, 2-bath residence in the highly sought-after Casa Del Sol community! This rarely available ground-floor END unit is just steps away from the clubhouse and sparkling pool. Freshly painted, the home was replumbed in 2018 and features an A/C system installed in 2023. Casa Del Sol offers a vibrant lifestyle with amenities including a clubhouse, fitness center, pool, and tennis courts. Ideally located near I-75, top-rated restaurants, shopping, and more—this is Sarasota living at its best!

21. 2016-03-01
    soldstatus $139,000
22. 2016-02-29
    soldstatus $139,000 Sold 529-char remark

    Show marketing remark (529 chars)

    WOW! Rarely available ground floor unit in condo section of Casa del Sol & this one is only steps from clubhouse and pool. Being sold turnkey furnished this beautifully maintained unit overlooking lake has much to offer. Walk-in closets, eat-in kitchen, screened lanai & designated carport parking. This is a very social non-55+ community with clubhouse, heated pool, tennis courts & shuffleboard. Located near shopping, restaurants, churches & hospital make this idea for year round living or snow birds.

23. 2016-02-26
    status Pending 529-char remark

    Show marketing remark (529 chars)

    WOW! Rarely available ground floor unit in condo section of Casa del Sol & this one is only steps from clubhouse and pool. Being sold turnkey furnished this beautifully maintained unit overlooking lake has much to offer. Walk-in closets, eat-in kitchen, screened lanai & designated carport parking. This is a very social non-55+ community with clubhouse, heated pool, tennis courts & shuffleboard. Located near shopping, restaurants, churches & hospital make this idea for year round living or snow birds.

24. 2016-02-01
    historical Contingent - Inspections 529-char remark

    Show marketing remark (529 chars)

    WOW! Rarely available ground floor unit in condo section of Casa del Sol & this one is only steps from clubhouse and pool. Being sold turnkey furnished this beautifully maintained unit overlooking lake has much to offer. Walk-in closets, eat-in kitchen, screened lanai & designated carport parking. This is a very social non-55+ community with clubhouse, heated pool, tennis courts & shuffleboard. Located near shopping, restaurants, churches & hospital make this idea for year round living or snow birds.

25. 2016-01-08
    listed $149,900 Active 529-char remark

    Show marketing remark (529 chars)

    WOW! Rarely available ground floor unit in condo section of Casa del Sol & this one is only steps from clubhouse and pool. Being sold turnkey furnished this beautifully maintained unit overlooking lake has much to offer. Walk-in closets, eat-in kitchen, screened lanai & designated carport parking. This is a very social non-55+ community with clubhouse, heated pool, tennis courts & shuffleboard. Located near shopping, restaurants, churches & hospital make this idea for year round living or snow birds.

26. 2002-10-18
    soldstatus $110,000
27. 1999-05-03
    soldstatus $84,000
28. 1996-07-31
    soldstatus $79,900
29. 1996-07-31
    soldstatus $79,900

ⓘ 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: $2,748 · $229/mo
• Projected year-2 tax: $2,748 · $229/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 ≥108°F today · 28 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: $25,519
• − Mortgage interest: −$9,971
• − Property taxes: −$2,748
• − Insurance: −$890
• − Repairs & maintenance: −$2,041
• − Management: −$2,041
• − HOA: −$6,156
• − Depreciation: −$5,178
• Taxable loss: −$3,508
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $6/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 — Bee Ridge

• Score: 72/100
• State rank: #370
• US rank: #6494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bee Ridge, FL
• County: Sarasota County · 448,376 people
• City population: 18,875
• 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

+122.8% since first listed

15 events — show timeline

• 2026-03-23 Price Changed $178,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-17 Price Changed $195,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-28 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $228,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-03 Price Changed $249,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-28 Listed $269,000 Stellar MLS as Distributed by MLS Grid
• 2016-03-01 Sold (Public Records) $139,000 Public Records
• 2016-02-29 Sold (MLS) $139,000 Stellar MLS as Distributed by MLS Grid
• 2016-02-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-02-01 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-01-08 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2002-10-18 Sold (Public Records) $110,000 Public Records
• 1999-05-03 Sold (Public Records) $84,000 Public Records
• 1996-07-31 Sold (Public Records) $79,900 Public Records
• 1996-07-31 Sold (Public Records) $79,900 Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,748 · +3.2% YoY. Source: county tax records.