541 DE Narvaez Dr · Longboat Key, FL 34228

$830,000

3 bd · 2.0 ba · 1,704 sqft · SingleFamily public records · 1 Days on market

Built 1976 10,001 sqft lot Est $1068k · 22% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Appreciation +5.4/10.0
• Schools +4.4/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Under contract-accepting backup offers. An incredible opportunity for a canal front 3 bedroom home on a nicely elevated lot. This home had NO WATER INTRUSION from the storms! It is a diamond in the rough just waiting for your vision. Whether you remodel it and use it as a monthly waterfront rental or make plans to turn it your vacation or waterfront island home, the lot itself is worth the price! Walk to the neighborhood beach, or jump on your boat out back on your lift and cruise the intracoastal. .. .. this is a great chance to start your island living dreams.

Key facts

• Boat lift
• Canal front
• Elevated lot

Tags

• CANAL FRONT
• ELEVATED LOT
• WATERFRONT RENTAL
• BOAT LIFT
• ISLAND LIVING

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Zoning: R4SF; Lot features: Flood zone, in city limits, near golf course, near marina, near public transit, paved; Lot dimensions approximately 100 x 100; Total lot about 0.23 acres; Living area about 1,704 (public records); Stories/levels: One
• HOA & community: Pets allowed

Exterior

• Parking: Driveway; Ground-level parking; Attached 1-car garage
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Single-family residence; One story; South-facing; Completed condition
• Construction: Stucco exterior; Shingle roof; Slab foundation; Built as a single-story home
• Exterior features: Covered rear porch; Screened porch; Canal frontage with water view; Canal access (saltwater); Bridges: no fixed bridges to Gulf of Mexico; Boat lift

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room/dining room combo; Window treatments; Sliding doors
• Laundry & utility: Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $830k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $765k (7.8% below list).
• Recommended offer: $765k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: housing C-, amenities F, commute F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Anna Maria Elementary School (math 77% / reading 77%, grade A, #170 of 2,144 statewide, top 9%, 190 students, 36% FRL); Bayshore High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 1,435 students, 65% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 539 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• At $7,654/mo this rent would consume 58% of the median local household income ($158k/yr) (locally 98% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($6k loan paydown + $6k appreciation (0.7% local appreciation)).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $232k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $765,354 (7.8% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $1,068,408
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
589 Bayview Dr	0.09mi	3/2.0	1,664 (-2%)	21mo	$1,065,000	$640	75
611 Hibiscus Way	0.53mi	3/2.0	1,723 (+1%)	11mo	$730,000	$424	64
650 Penfield St	0.35mi	2/2.0 (-1)	1,579 (-7%)	11mo	$1,050,000	$665	57
714 Norton St	0.30mi	3/3.0	1,800 (+6%)	18mo	$1,200,000	$667	57
560 Cedar St	0.56mi	3/3.0	1,824 (+7%)	6mo	$655,000	$359	53
691 Linley St	0.65mi	2/2.5 (-1)	1,820 (+7%)	6mo	$915,000	$503	46
610 Russell St	0.74mi	3/2.0	1,832 (+8%)	13mo	$1,149,000	$627	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 3.0%
• Equity multiple: 1.15×
• Total profit: $35,160
• Equity at exit: $271,653

10-year hold

• IRR: 7.8%
• Equity multiple: 1.91×
• Total profit: $212,572
• Equity at exit: $352,126

Cash invested: $232,400 (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: 9.0×

Monthly cashflow live

• Estimated rent: $7,654 high
• Mortgage (P&I): −$4,353
• Tax from tax record: −$441 /mo · $5,286/yr
• Insurance: −$346
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,607
• Net cashflow: $481

Break-even live

Break-even rent $7,045

Max offer price $830,000

Occupancy floor 89%

Sensitivity live

Price	-10% $951	-5% $716	+0% $481	+5% $246	+10% $11
Rent	-10% $-124	-5% $178	+0% $481	+5% $783	+10% $1,085
Rate	-1.0pp $899	-0.5pp $692	base $481	+0.5pp $266	+1.0pp $47

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: $207,500
• Closing costs: $24,900
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
586 Lyons Ln Longboat Key, FL	4.0	2.0	1718	$10,000	$5.82	24d	1	0.19mi
6979 Longboat Dr S Longboat Key, FL	3.0	2.0	1454	$10,000	$6.88	24d	1	0.63mi
701 Broadway St Longboat Key, FL	2.0	2.0	1650	$8,650	$5.24	4d	1	0.70mi
615 Dream Island Rd #201 Longboat Key, FL	2.0	2.0	1514	$10,500	$6.94	24d	1	0.71mi
615 Dream Island Rd #107 Longboat Key, FL	2.0	2.0	1293	$12,500	$9.67	24d	1	0.71mi
600 Russell St Longboat Key, FL	4.0	2.0	1280	$4,500	$3.52	24d	1	0.72mi
730 Fox St Longboat Key, FL	3.0	3.0	1350	$5,500	$4.07	24d	1	0.79mi
573 Spanish Dr N Longboat Key, FL	2.0	2.0	1380	$3,500	$2.54	17d	1	1.15mi
676 El Centro Longboat Key, FL	2.0	2.0	1427	$3,250	$2.28	24d	1	1.23mi
730 Spanish Dr S #99 Longboat Key, FL	2.0	2.0	1255	$2,800	$2.23	3d	1	1.27mi
957 Spanish Dr N Longboat Key, FL	2.0	2.0	1399	$5,500	$3.93	24d	1	1.27mi
535 Forest Way Longboat Key, FL	2.0	2.5	1440	$6,900	$4.79	24d	1	1.28mi
820 Spanish Dr S Longboat Key, FL	2.0	2.0	1390	$3,000	$2.16	17d	1	1.30mi
914 Spanish Dr S #76 Longboat Key, FL	2.0	2.0	1341	$6,500	$4.85	24d	1	1.34mi
5621 Gulf of Mexico Dr #103 Longboat Key, FL	3.0	2.0	1731	$5,500	$3.18	24d	1	1.41mi
5621 Gulf of Mexico Dr #102 Longboat Key, FL	2.0	2.0	1346	$6,000	$4.46	24d	1	1.41mi
5611 Gulf of Mexico Dr #3 Longboat Key, FL	3.0	2.0	1635	$5,000	$3.06	24d	1	1.43mi
5611 Gulf of Mexico Dr #5 Longboat Key, FL	3.0	3.0	1672	$7,750	$4.64	24d	1	1.43mi
5611 Gulf of Mexico Dr #1 Longboat Key, FL	3.0	2.0	1675	$14,000	$8.36	24d	1	1.43mi

Listing history 2 events

1. 2026-05-04
   status Pending
2. 2026-05-04
   listed $830,000 Active

ⓘ 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: $5,286 · $441/mo
• Projected year-2 tax: $6,889 · $574/mo
• Expected delta: +$1,603/yr (+$134/mo · 30.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,842
• − Mortgage interest: −$46,493
• − Property taxes: −$5,286
• − Insurance: −$9,268
• − Repairs & maintenance: −$7,347
• − Management: −$7,347
• − Depreciation: −$24,145
• Taxable loss: −$8,045
• Est. tax savings @ 24.0%: +$1,931
• After-tax cash flow: $7,700/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 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 (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

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 · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

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

2 events — show timeline

• 2026-05-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Listed $830,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2025): $5,286 · +2.2% YoY. Source: county tax records.