2507 Beneva Rd #5 · Southgate, FL 34232

$149,900

2 bd · 2.0 ba · 1,260 sqft · Condo public records · 20 Days on market

Built 1964 $510/mo HOA · 24% 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 +22.6/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +5.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1st floor end unit with "2" deeded carports, property may be sold furnished or unfurnished. Walk to shopping, buslines, restaurants, good condition but sold "AS IS". call office for Trust information. NO rentals or pets except for service animals. Walkin closet in Master bedroom. Screen porch on driveway side of unit. Larcge enclosed porch overlooking green belt area. Very private location within the complex.

Key facts

• Downtown sarasota
• Unbeatable location
• $510 HOA

Tags

• OPEN-CONCEPT FLOOR PLAN
• PRIVATE EN-SUITE BATH
• UNBEATABLE LOCATION
• SCENIC BIKE RIDE TO BEACHES
• DOWNTOWN SARASOTA
• SARASOTA FARMERS MARKET

Property features AI

Finance

• Other: Condo land included; Furnished: negotiable
• Financial info: Total annual fees $6,120; Lease restrictions apply
• HOA & community: Monthly condo fee of $510 (includes common area taxes, pool, escrow reserves, insurance, structure and grounds maintenance, management, pest control, sewer, trash, water); Association approval required; Association: Michael Sorensen Stringer Management; Community pool; Deed restrictions; No truck/RV/motorcycle parking; Community mailbox; Buyer approval required

Exterior

• Parking: Carport with 2 spaces; Additional guest parking available
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Condominium; Single-story; Entry facing North
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a larger building (unit number 2507)
• Exterior features: Exterior lighting; Irrigation equipment; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Thermostat; Lighting
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#397 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment C-, 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.
• Market conditions: Rents falling (-3.5%/yr); 265 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 32% 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 $4k 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 20 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $60k; list at $150k implies a 150% gain — meaningful room to come down on a strong offer.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.43% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 5.8

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: -9.5%
• Equity multiple: 0.67×
• Total profit: $-14,050
• Equity at exit: $22,351

10-year hold

• IRR: -6.6%
• Equity multiple: 0.65×
• Total profit: $-14,499
• Equity at exit: $12,961

Cash invested: $41,972 (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 34232

• Rents YoY: -3.5%
• Active inventory: 265
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$84 /mo · $1,013/yr
• Insurance: −$62
• HOA: −$510
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $255

Break-even live

Break-even rent $1,827

Max offer price $149,900

Occupancy floor 83%

Sensitivity live

Price	-10% $340	-5% $298	+0% $255	+5% $213	+10% $170
Rent	-10% $85	-5% $170	+0% $255	+5% $340	+10% $425
Rate	-1.0pp $331	-0.5pp $293	base $255	+0.5pp $216	+1.0pp $177

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $149,900 Active 20 DOM
2. 2026-06-17
   days on market $149,900 Active 19 DOM
3. 2026-06-16
   days on market $149,900 Active 18 DOM
4. 2026-06-15
   days on market $149,900 Active 17 DOM
5. 2026-06-13
   days on market $149,900 Active 15 DOM
6. 2026-06-13
   days on market $149,900 Active 14 DOM
7. 2026-06-10
   days on market $149,900 Active 12 DOM
8. 2026-06-09
   days on market $149,900 Active 11 DOM
9. 2026-06-08
   days on market $149,900 Active 10 DOM
10. 2026-06-08
    pricedays on market $149,900 Active 9 DOM
11. 2026-06-05
    days on market $155,000 Active 6 DOM
12. 2026-06-03
    days on market $155,000 Active 5 DOM
13. 2026-06-02
    days on market $155,000 Active 4 DOM
14. 2026-06-01
    days on market $155,000 Active 3 DOM
15. 2026-05-31
    days on market $155,000 Active 2 DOM

ⓘ 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: $1,013 · $84/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$231/yr (+$19/mo · 22.8%)

ⓘ 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: $25,796
• − Mortgage interest: −$8,397
• − Property taxes: −$1,013
• − Insurance: −$750
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$6,120
• − Depreciation: −$4,361
• Taxable income: $1,029
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,816/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 — Southgate

• Score: 71/100
• State rank: #397
• US rank: #7021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 14,795
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 34,013
• Household income: $80,795
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1676.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 8% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 10% German/W. Germanic 2% Other Indo-European 1%

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: ▼ -426.24%
• Current HPI: 337.9799
• Rent YoY: ▼ -3.45%
• 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

+210.0% since first listed

8 events — show timeline

• 2026-05-29 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-21 Price Changed $209,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-22 Listed $219,000 Stellar MLS as Distributed by MLS Grid
• 2014-03-06 Sold (Public Records) $60,000 Public Records
• 2014-03-06 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2013-12-26 Listed $65,900 Stellar MLS as Distributed by MLS Grid
• 1988-03-01 Sold (Public Records) $53,000 Public Records
• 1986-12-01 Sold (Public Records) $50,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,013 · +5.6% YoY. Source: county tax records.