5636 6th Street Ct E · Bayshore Gardens, FL 34203

$575,000

6 bd · 4.0 ba · 2,756 sqft · MultiFamily public records · 70 Days on market

Built 2005 7,741 sqft lot

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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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• DSCR +3.5/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity or live in one side and rent the other side out for income. Both sides are mirror images - 4 bedrooms and 2 bathrooms, laundry room, eat-in kitchen - living room. Each has there own space in the back yard. The unit on the left has side and backyard and storage shed. Both units are occupied by tenants with leases. Rents are low and could be increased to reflect market value. Close to public transportation, shopping, entertainment, restaurants and local area beaches are a short drive away.

Key facts

• Income potential
• Eat-in kitchen
• Mirror-image units

Tags

• INVESTMENT OPPORTUNITY
• INCOME POTENTIAL
• MIRROR-IMAGE UNITS
• DEDICATED LAUNDRY ROOM
• EAT-IN KITCHEN
• SOLID CONCRETE CONSTRUCTION

Property features AI

Finance

• Other: Property zoning: RDD6; Total living area reported as 2,756 square feet; Total building area reported as 2,900 square feet; Lot size about 0.18 acres
• Financial info: Annual net income reported: $62,000; Tenants pay electricity, water and sewer
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Water connected; Sewer connected
• Home design: Duplex (residential income property); One story
• Construction: Stucco exterior; Shingle roof; Slab foundation; Total of 1 building
• Exterior features: Fenced yard; Corner lot; Landscaped; Paved

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: Two units with four bedrooms each (8 total bedrooms)
• Flooring: Tile flooring
• Bathrooms: Each unit has 2 full bathrooms (4 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Inside utility
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative. Per door: $-73/mo.
• To cash-flow at today's rent, offer at most $549k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $460k (19.9% below list).
• Recommended offer: $460k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.7% in Bayshore Gardens — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 82/100 on livability (#72 in FL, #1,180 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute C-, schools 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.
• Market conditions: Rents soft (-1.0%/yr); 384 active listings in the ZIP; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• At $4,603/mo this rent would consume 78% of the median local household income ($71k/yr) (locally 1469% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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 $375k; list at $575k implies a 53% 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 $460,300 (19.9% 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 70 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.80% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 10.4

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: -21.4%
• Equity multiple: 0.28×
• Total profit: $-116,047
• Equity at exit: $85,734

10-year hold

• IRR: -23.6%
• Equity multiple: -0.03×
• Total profit: $-165,397
• Equity at exit: $49,715

Cash invested: $161,000 (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 34203

• Home prices YoY: -24.5%
• Rents YoY: -1.0%
• Active inventory: 384
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $4,603 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$528 /mo · $6,336/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$967
• Net cashflow: $-147

Break-even live

Break-even rent $4,789

Max offer price $549,109

Occupancy floor 98%

Sensitivity live

Price	-10% $179	-5% $16	+0% $-147	+5% $-309	+10% $-472
Rent	-10% $-510	-5% $-328	+0% $-147	+5% $35	+10% $217
Rate	-1.0pp $143	-0.5pp $0	base $-147	+0.5pp $-296	+1.0pp $-447

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,602
Total (2 units)			$4,603

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $575,000 Active 70 DOM
2. 2026-06-17
   days on market $575,000 Active 69 DOM
3. 2026-06-16
   days on market $575,000 Active 68 DOM
4. 2026-06-15
   days on market $575,000 Active 67 DOM
5. 2026-06-13
   days on market $575,000 Active 65 DOM
6. 2026-06-13
   days on market $575,000 Active 64 DOM
7. 2026-06-10
   days on market $575,000 Active 62 DOM
8. 2026-06-09
   days on market $575,000 Active 61 DOM
9. 2026-06-08
   days on market $575,000 Active 60 DOM
10. 2026-06-08
    days on market $575,000 Active 59 DOM
11. 2026-06-03
    days on market $575,000 Active 55 DOM
12. 2026-06-02
    days on market $575,000 Active 54 DOM
13. 2026-06-01
    days on market $575,000 Active 53 DOM
14. 2026-05-31
    days on market $575,000 Active 52 DOM
15. 2026-04-09
    listed $575,000 Active
16. 2021-12-20
    soldstatus $375,000
17. 2021-12-09
    soldstatus $375,000 Closed 521-char remark

    Show marketing remark (521 chars)

    Great investment opportunity or live in one side and rent the other side out for income. Both sides are mirror images - 4 bedrooms and 2 bathrooms, laundry room, eat-in kitchen - living room. Each has there own space in the back yard. The unit on the left has side and backyard and storage shed. Both units are occupied by tenants with leases. Rents are low and could be increased to reflect market value. Close to public transportation, shopping, entertainment, restaurants and local area beaches are a short drive away.

18. 2021-10-15
    status Pending 521-char remark

    Show marketing remark (521 chars)

    Great investment opportunity or live in one side and rent the other side out for income. Both sides are mirror images - 4 bedrooms and 2 bathrooms, laundry room, eat-in kitchen - living room. Each has there own space in the back yard. The unit on the left has side and backyard and storage shed. Both units are occupied by tenants with leases. Rents are low and could be increased to reflect market value. Close to public transportation, shopping, entertainment, restaurants and local area beaches are a short drive away.

19. 2021-10-12
    listed $375,000 Active 521-char remark

    Show marketing remark (521 chars)

    Great investment opportunity or live in one side and rent the other side out for income. Both sides are mirror images - 4 bedrooms and 2 bathrooms, laundry room, eat-in kitchen - living room. Each has there own space in the back yard. The unit on the left has side and backyard and storage shed. Both units are occupied by tenants with leases. Rents are low and could be increased to reflect market value. Close to public transportation, shopping, entertainment, restaurants and local area beaches are a short drive away.

20. 2019-07-17
    soldstatus $255,000
21. 2019-07-16
    soldstatus $255,000 Sold 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

22. 2019-07-15
    status Pending 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

23. 2019-06-24
    price $254,900 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

24. 2019-06-24
    status Active 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

25. 2019-05-22
    status Pending 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

26. 2019-05-03
    listed $247,900 Active 328-char remark

    Show marketing remark (328 chars)

    Duplex with a total under roof of 2,900 sq/ft, each unit has a total of 1,450 sq/ft. 4 bedrooms 2 bath per unit. Built in 2005 with concrete walls (e-walls) estimated design to 200 mile winds on roof and walls. All tiles floors of the same type. This is an excellent investment property, total rental income of $3,475 per month.

27. 2007-12-06
    listed $293,000
28. 2007-12-05
    listed $293,000
29. 2007-05-07
    listed $310,900
30. 2007-05-07
    listed $310,900
31. 2004-03-05
    soldstatus $45,000

ⓘ 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: $6,336 · $528/mo
• Projected year-2 tax: $6,336 · $528/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,236
• − Mortgage interest: −$32,209
• − Property taxes: −$6,336
• − Insurance: −$2,875
• − Repairs & maintenance: −$4,419
• − Management: −$4,419
• − Depreciation: −$16,727
• Taxable loss: −$11,749
• Est. tax savings @ 24.0%: +$2,820
• After-tax cash flow: $1,061/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 — Bayshore Gardens

• Score: 82/100
• State rank: #72
• US rank: #1180

Category grades

Amenities B- Commute C- Cost of living A+ Crime C- Employment F 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
• City population: 33,840
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 40,618
• Household income: $70,761
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1469.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 9% Asian 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Vietnam, Dominican Republic
• Languages at home: 76% English-only · Spanish 16% Vietnamese 2% Other Indo-European 1%

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: ▼ -95.87%
• Current HPI: 295.8871
• Rent YoY: ▼ -0.97%
• 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

+1177.8% since first listed

17 events — show timeline

• 2026-04-09 Listed $575,000 Stellar MLS as Distributed by MLS Grid
• 2021-12-20 Sold (Public Records) $375,000 Public Records
• 2021-12-09 Sold (MLS) $375,000 Stellar MLS as Distributed by MLS Grid
• 2021-10-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-10-12 Listed $375,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-17 Sold (Public Records) $255,000 Public Records
• 2019-07-16 Sold (MLS) $255,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-06-24 Price Changed $254,900 Stellar MLS as Distributed by MLS Grid
• 2019-06-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2019-05-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-05-03 Listed $247,900 Stellar MLS as Distributed by MLS Grid
• 2007-12-06 Listed $293,000 Stellar MLS as Distributed by MLS Grid
• 2007-12-05 Listed $293,000 Stellar MLS as Distributed by MLS Grid
• 2007-05-07 Listed $310,900 Stellar MLS as Distributed by MLS Grid
• 2007-05-07 Listed $310,900 Stellar MLS as Distributed by MLS Grid
• 2004-03-05 Sold (Public Records) $45,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $6,336 · +2.5% YoY. Source: county tax records.