843 Bayport Way #843 · Longboat Key, FL 34228

$670,000

2 bd · 2.0 ba · 1,260 sqft · Condo public records · 44 Days on market

Built 1983 $532/sqft · 17% below area Est $806k · 17% under $1978/mo HOA · 34% 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).

• ARV discount +15.0/15.0
• Appreciation +5.4/10.0
• Schools +5.4/10.0
• Cash flow +4.9/30.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

This exceptionally clean and well maintained 2-bedroom, 2-bath residence in Bayport Beach and Tennis Club is offered turnkey (with a few exclusions), ready for immediate enjoyment. Currently the lowest-priced unit in the community, it also presents a rare opportunity for a new owner to customize and renovate at their own pace—adding personal style while building value. Ideally positioned as a bright and private second-floor end unit with no neighbors above, this home is filled with natural light. Kitchen, dining, living room open design with split bedrooms for privacy. The primary suite features a walk-in closet and a dedicated office niche—perfect for today’s work-from-ho

Key facts

• $1,978 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Turnkey furnished; Irrigation equipment included
• Financial info: Lease restrictions apply
• HOA & community: Has HOA (monthly fees required); Monthly condo fee $1,978; Total monthly fees $1,978; Total annual fees $23,736; Association amenities: clubhouse, fitness center, pool, tennis and shuffleboard courts, storage, trails, maintenance, recreational facilities; Association fee includes: cable TV, internet, insurance, management, maintenance (structure & grounds), pest control, private road maintenance, sewer, trash, water, escrow reserves and fidelity bond; Buyer approval required for association; Pets allowed (cats and dogs, number limit); Community features: fitness center, irrigation with reclaimed water, pool, sidewalks, street lights, no truck/RV/motorcycle parking; Full-time management

Exterior

• Parking: Assigned covered parking; Ground-level parking; Guest parking; 1-car carport
• Security: Fire alarm; Key card entry; Security lights
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Fiber optics available; BB/HS internet available; Underground utilities; Fire hydrant; Sprinkler recycled; Water connected; Sewer connected
• Home design: Residential condominium; Attached property; One story (single level); Faces east; On waterfront with deeded bay/harbor and beach access
• Construction: Block construction; Membrane roof; Crawlspace foundation; Building F-1
• Exterior features: Covered, enclosed and screened rear porch; Deck; Awning(s); Outdoor lighting; Outdoor grill; Outdoor shower; Tennis court(s); Child-safety pool fence; Heated in-ground pool; Fishing pier; Near golf course; Near marina; Near public transit; Private setting; Sidewalk; Street dead-end; Paved roads; Mature landscaping with bamboo and trees

Interior

• Kitchen: Cooktop; Range; Range hood; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Ice maker; Stone counters
• Bedrooms: 2 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Exhaust fan; Central air conditioning
• Interior features: Eat-in kitchen; Kitchen and family room combo; Living and dining room combo; Open floorplan; Stone counters; Thermostat; Walk-in closets; Window treatments; Double-pane windows; Shades
• Laundry & utility: Washer; Dryer; Electric water heater; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $670k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (53.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $588k (12.3% below list).
• Recommended offer: $309k (53.8% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 0.5% in Longboat Key — 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 64/100 on livability (#693 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: schools C-, housing C-, 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.
• Market conditions: 539 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 45% of the median local income ($158k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($5k loan paydown + $5k appreciation (0.7% local appreciation)).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($650k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago 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 $408k; list at $670k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 34% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $309,323 (53.8% 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 44 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 0.88% ✗
• Cap rate: 3.40%
• Cash-on-cash: -10.33%
• DSCR: 0.54
• GRM: 9.5

CMA / ARV

• ARV (median comp): $806,136
• List price: $670,000
• Delta: -16.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.33×
• Total profit: $-125,032
• Equity at exit: $219,286

10-year hold

• IRR: -7.0%
• Equity multiple: 0.17×
• Total profit: $-155,817
• Equity at exit: $284,246

Cash invested: $187,600 (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 34228

• Home prices YoY: 0.3%
• Active inventory: 539
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $5,876 high
• Mortgage (P&I): −$3,514
• Tax from tax record: −$487 /mo · $5,838/yr
• Insurance: −$279
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,978
• Vacancy / Maint / Mgmt: −$1,234
• Net cashflow: $-2,042

Break-even live

Break-even rent $8,460

Max offer price $309,323

Occupancy floor —

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: $167,500
• Closing costs: $20,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 Gulf of Mexico Dr Longboat Key, FL	2.0–3.0	2.0–2.5	1373	$5,500	$4.00	15d	3	0.71mi
4485 Gulf of Mexico Dr #2 Longboat Key, FL	3.0	2.0	1576	$10,500	$6.66	23d	1	0.92mi
4340 Falmouth Dr Longboat Key, FL	2.0	2.0	1330	$3,000	$2.26	23d	1	0.99mi
4420 Exeter Dr #208 Longboat Key, FL	2.0	2.0	1168	$4,900	$4.20	23d	1	1.00mi
4825 Gulf of Mexico Dr #201 Longboat Key, FL	2.0	2.0	1393	$7,800	$5.60	23d	1	1.48mi

HOA detail condo

• Monthly dues: $1,978 · $23,736/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $670,000 Active 44 DOM
2. 2026-06-17
   days on market $670,000 Active 43 DOM
3. 2026-06-16
   days on market $670,000 Active 42 DOM
4. 2026-06-15
   days on market $670,000 Active 41 DOM
5. 2026-06-13
   days on market $670,000 Active 39 DOM
6. 2026-06-13
   days on market $670,000 Active 38 DOM
7. 2026-06-10
   days on market $670,000 Active 36 DOM
8. 2026-06-09
   days on market $670,000 Active 35 DOM
9. 2026-06-08
   days on market $670,000 Active 34 DOM
10. 2026-06-08
    days on market $670,000 Active 33 DOM
11. 2026-06-05
    days on market $670,000 Active 30 DOM
12. 2026-06-03
    days on market $670,000 Active 29 DOM
13. 2026-06-02
    days on market $670,000 Active 28 DOM
14. 2026-06-01
    days on market $670,000 Active 27 DOM
15. 2026-05-31
    days on market $670,000 Active 26 DOM
16. 2026-05-05
    listed $670,000 Active 1900-char remark
17. 2024-05-02
    historical
18. 2023-10-17
    price $699,000
19. 2023-07-24
    price $725,000
20. 2023-05-03
    listed $795,000 Active
21. 2021-02-12
    soldstatus $407,500
22. 2019-12-28
    historical
23. 2019-09-24
    price $439,900
24. 2019-05-25
    price $445,000
25. 2019-05-01
    price $450,000
26. 2019-03-16
    status Active
27. 2018-12-28
    historical
28. 2018-10-31
    listed $464,000 Active
29. 2014-04-15
    soldstatus $325,000 Sold
30. 2014-04-15
    soldstatus $325,000
31. 2013-12-06
    listed $359,500
32. 2006-02-27
    listed $625,000
33. 1988-05-13
    soldstatus $105,000

ⓘ 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: $5,838 · $487/mo
• Projected year-2 tax: $5,838 · $487/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,513
• − Mortgage interest: −$37,530
• − Property taxes: −$5,838
• − Insurance: −$8,468
• − Repairs & maintenance: −$5,641
• − Management: −$5,641
• − HOA: −$23,736
• − Depreciation: −$19,491
• Taxable loss: −$35,834
• Est. tax savings @ 24.0%: +$8,600
• After-tax cash flow: $-15,900/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 — Longboat Key

• Score: 64/100
• State rank: #693
• US rank: #14452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longboat Key, FL
• County: Sarasota County · 448,376 people
• City population: 7,539
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 7,539
• Household income: $158,030
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 98.0

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Scotch-Irish 7% Romanian 6% Lithuanian 4%
• Foreign-born: 14% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 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: ▲ 0.73%
• Current HPI: 234.5017
• Rent YoY: —
• 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

+538.1% since first listed

18 events — show timeline

• 2026-05-05 Listed $670,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-10-17 Price Changed $699,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-24 Price Changed $725,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-03 Listed $795,000 Stellar MLS as Distributed by MLS Grid
• 2021-02-12 Sold (Public Records) $407,500 Public Records
• 2019-12-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-09-24 Price Changed $439,900 Stellar MLS as Distributed by MLS Grid
• 2019-05-25 Price Changed $445,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-01 Price Changed $450,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2018-12-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-10-31 Listed $464,000 Stellar MLS as Distributed by MLS Grid
• 2014-04-15 Sold (Public Records) $325,000 Public Records
• 2014-04-15 Sold (MLS) $325,000 Stellar MLS as Distributed by MLS Grid
• 2013-12-06 Listed $359,500 Stellar MLS as Distributed by MLS Grid
• 2006-02-27 Listed $625,000 Stellar MLS as Distributed by MLS Grid
• 1988-05-13 Sold (Public Records) $105,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $5,838 · -5.0% YoY. Source: county tax records.