3693 Parkridge Cir Unit 7-101 · Desoto Lakes, FL 34243

$180,500

3 bd · 2.0 ba · 1,210 sqft · Condo public records · 94 Days on market

Built 2006 $434/mo HOA · 18% 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 +18.4/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly painted and ready for its new owner! Highly desirable downstairs unit with three full bedrooms and two full bathrooms now available in sought after Parkridge. Unit boasts a new hot water heater and brand new carpets in the bedrooms. The remaining floors are a very nice and neutral ceramic tile. The laundry is located inside the home with washer and dryer included. The location of this unit is ideal. It has tons of privacy as it is towards the back of the community with no one behind it. It's also an end unit with an attached, one car garage and a spacious screened in lanai with storage. There is a large grassy area behind the home with a small view of the pond. Parkridge is pet friendly and gated with a heated, resort style pool. Centrally located and close to all of the shopping at UTC, Benderson Park, tons of restaurants, downtown Sarasota and Lakewood Ranch and very close to the world famous beaches of Sarasota! This community is truly maintenance free with water and cable also included in the monthly fee. Schedule your showing today!!

Key facts

• Gated community
• Private vanity area
• Large closet pantry

Tags

• GATED COMMUNITY
• OPEN CONCEPT LAYOUT
• U SHAPED KITCHEN
• LARGE CLOSET PANTRY
• SPLIT BEDROOM FLOOR PLAN
• PRIVATE VANITY AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.4% in Desoto Lakes — 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 77/100 on livability (#189 in FL, #3,003 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: 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.
• Zoned schools: Emma E. Booker Elementary School (math 35% / reading 32%, grade F, #1,758 of 2,144 statewide, top 83%, 468 students, 93% FRL); Booker High School (math 26% / reading 43%, grade F, #386 of 667 statewide, top 59%, 1,309 students, 68% FRL) — zoned schools average 80% FRL vs 42% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 63% district-wide (-29 pts) — the specific schools serving this property underperform the Sarasota average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-4.1%/yr); 386 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 35% 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 $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 94 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $164,255 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.30% ✓
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 6.4

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: -14.4%
• Equity multiple: 0.50×
• Total profit: $-25,106
• Equity at exit: $26,913

10-year hold

• IRR: -13.9%
• Equity multiple: 0.34×
• Total profit: $-33,423
• Equity at exit: $15,606

Cash invested: $50,540 (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 34243

• Home prices YoY: -23.0%
• Rents YoY: -4.1%
• Active inventory: 386
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,350 high
• Mortgage (P&I): −$947
• Tax from tax record: −$232 /mo · $2,785/yr
• Insurance: −$75
• HOA: −$434
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $168

Break-even live

Break-even rent $2,137

Max offer price $180,500

Occupancy floor 88%

Sensitivity live

Price	-10% $271	-5% $219	+0% $168	+5% $117	+10% $66
Rent	-10% $-17	-5% $76	+0% $168	+5% $261	+10% $354
Rate	-1.0pp $259	-0.5pp $214	base $168	+0.5pp $122	+1.0pp $74

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: $45,125
• Closing costs: $5,415
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5025 82nd Way E Sarasota, FL	3.0	2.0	1321	$2,250	$1.70	24d	1	0.38mi
8445 Gardens Cir Sarasota, FL	1.0–3.0	1.0–2.0	973	$2,172	$2.23	3d	29	0.62mi
8121 45th Ct E Sarasota, FL	2.0	2.0	1000	$1,695	$1.70	3d	1	0.63mi
5662 Gardens Dr #104 Sarasota, FL	2.0	2.0	1068	$1,950	$1.83	24d	1	0.65mi
5735 Gardens Dr Unit 5735 Sarasota, FL	2.0	1.0	1068	$2,000	$1.87	24d	1	0.77mi
6041 Clubside Dr Unit 6041 Sarasota, FL	2.0	2.0	1380	$2,950	$2.14	24d	1	0.89mi
5924 Clubside Dr Sarasota, FL	2.0	2.0	1380	$2,500	$1.81	24d	1	0.96mi
7885 N Lockwood Ridge Rd Sarasota, FL	2.0	1.0	1025	$1,749	$1.71	24d	1	0.97mi
7885 N Lockwood Ridge Rd Unit 827 Sarasota, FL	2.0	2.0	1177	$1,799	$1.53	24d	1	0.97mi
3045 Broadway Ave Sarasota, FL	1.0–2.0	1.0–2.0	865	$2,480	$2.87	11d	31	0.97mi
6104 Turnbury Park Dr Sarasota, FL	1.0–3.0	1.0–2.0	1065	$2,505	$2.35	2d	29	1.00mi
7887 Lockwood Ridge Rd Sarasota, FL	1.0–2.0	1.0–2.0	916	$2,297	$2.51	3d	16	1.04mi
8357 38th Street Cir E #104 Sarasota, FL	2.0	2.0	1080	$4,400	$4.07	24d	1	1.11mi
6191 Timber Lake Dr Unit A6 Sarasota, FL	2.0	2.0	1178	$1,600	$1.36	24d	1	1.12mi
6211 Timber Lake Dr Unit B9 Sarasota, FL	2.0	2.0	1274	$1,750	$1.37	24d	1	1.15mi
2575 University Pkwy Sarasota, FL	1.0–3.0	1.0–2.0	1026	$2,779	$2.71	2d	25	1.25mi
4208 76th Dr E Sarasota, FL	3.0	2.0	1350	$2,645	$1.96	4d	1	1.31mi
8310 Bella Grove Cir Sarasota, FL	1.0–2.0	1.0–2.0	897	$1,891	$2.11	2d	13	1.34mi
6120 Country Club Way #207 Sarasota, FL	2.0	2.0	1400	$1,950	$1.39	24d	1	1.34mi
6110 Country Club Way #201 Sarasota, FL	2.0	2.0	1400	$4,000	$2.86	24d	1	1.35mi
4455 Rayfield Dr Sarasota, FL	2.0	2.5	1143	$2,210	$1.93	24d	1	1.42mi
7886 Eagle Creek Dr Unit 7886 Sarasota, FL	2.0	2.0	983	$3,300	$3.36	24d	1	1.43mi
7452 W Country Club Dr N Unit 1546435P Sarasota, FL	2.0	2.0	1173	$2,742	$2.34	12d	1	1.44mi
7794 Eagle Creek Dr #7794 Sarasota, FL	2.0	2.0	983	$1,800	$1.83	22d	1	1.48mi
2351 University Pkwy Sarasota, FL	1.0–3.0	1.0–2.0	1046	$3,121	$2.98	2d	24	1.48mi

HOA detail condo

• Monthly dues: $434 · $5,208/yr
• Likely covers: watercablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-24
   status Pending
2. 2026-04-02
   price $180,500
3. 2026-03-02
   price $190,500
4. 2026-02-27
   status Active
5. 2026-02-19
   status Pending
6. 2026-01-12
   listed $200,500 Active
7. 2022-07-01
   soldstatus $352,500
8. 2022-06-30
   soldstatus $352,500 Closed 1064-char remark

   Show marketing remark (1064 chars)

   Freshly painted and ready for its new owner! Highly desirable downstairs unit with three full bedrooms and two full bathrooms now available in sought after Parkridge. Unit boasts a new hot water heater and brand new carpets in the bedrooms. The remaining floors are a very nice and neutral ceramic tile. The laundry is located inside the home with washer and dryer included. The location of this unit is ideal. It has tons of privacy as it is towards the back of the community with no one behind it. It's also an end unit with an attached, one car garage and a spacious screened in lanai with storage. There is a large grassy area behind the home with a small view of the pond. Parkridge is pet friendly and gated with a heated, resort style pool. Centrally located and close to all of the shopping at UTC, Benderson Park, tons of restaurants, downtown Sarasota and Lakewood Ranch and very close to the world famous beaches of Sarasota! This community is truly maintenance free with water and cable also included in the monthly fee. Schedule your showing today!!

9. 2022-06-10
   status Pending 1064-char remark

   Show marketing remark (1064 chars)

   Freshly painted and ready for its new owner! Highly desirable downstairs unit with three full bedrooms and two full bathrooms now available in sought after Parkridge. Unit boasts a new hot water heater and brand new carpets in the bedrooms. The remaining floors are a very nice and neutral ceramic tile. The laundry is located inside the home with washer and dryer included. The location of this unit is ideal. It has tons of privacy as it is towards the back of the community with no one behind it. It's also an end unit with an attached, one car garage and a spacious screened in lanai with storage. There is a large grassy area behind the home with a small view of the pond. Parkridge is pet friendly and gated with a heated, resort style pool. Centrally located and close to all of the shopping at UTC, Benderson Park, tons of restaurants, downtown Sarasota and Lakewood Ranch and very close to the world famous beaches of Sarasota! This community is truly maintenance free with water and cable also included in the monthly fee. Schedule your showing today!!

10. 2022-05-25
    listed $349,000 Active 1064-char remark

    Show marketing remark (1064 chars)

    Freshly painted and ready for its new owner! Highly desirable downstairs unit with three full bedrooms and two full bathrooms now available in sought after Parkridge. Unit boasts a new hot water heater and brand new carpets in the bedrooms. The remaining floors are a very nice and neutral ceramic tile. The laundry is located inside the home with washer and dryer included. The location of this unit is ideal. It has tons of privacy as it is towards the back of the community with no one behind it. It's also an end unit with an attached, one car garage and a spacious screened in lanai with storage. There is a large grassy area behind the home with a small view of the pond. Parkridge is pet friendly and gated with a heated, resort style pool. Centrally located and close to all of the shopping at UTC, Benderson Park, tons of restaurants, downtown Sarasota and Lakewood Ranch and very close to the world famous beaches of Sarasota! This community is truly maintenance free with water and cable also included in the monthly fee. Schedule your showing today!!

11. 2002-12-18
    soldstatus $5,760,000

ⓘ 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: $2,785 · $232/mo
• Projected year-2 tax: $2,785 · $232/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: $28,195
• − Mortgage interest: −$10,111
• − Property taxes: −$2,785
• − Insurance: −$902
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − HOA: −$5,208
• − Depreciation: −$5,251
• Taxable loss: −$573
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $2,158/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 — Desoto Lakes

• Score: 77/100
• State rank: #189
• US rank: #3003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 32,773
• Household income: $81,219
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1138.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 11% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 8% Russian/Polish/Slavic 3% Other Indo-European 3%

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: ▼ -83.67%
• Current HPI: 280.5372
• Rent YoY: ▼ -4.14%
• 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

-96.9% since first listed

11 events — show timeline

• 2026-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $180,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $190,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-12 Listed $200,500 Stellar MLS as Distributed by MLS Grid
• 2022-07-01 Sold (Public Records) $352,500 Public Records
• 2022-06-30 Sold (MLS) $352,500 Stellar MLS as Distributed by MLS Grid
• 2022-06-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-05-25 Listed $349,000 Stellar MLS as Distributed by MLS Grid
• 2002-12-18 Sold (Public Records) $5,760,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,785 · -6.4% YoY. Source: county tax records.