🏡 1997 Built 3/2/2 in Sarasota

Built in 1997, this 2,010 sq. ft. concrete block ranch sits on an 8,247 sq. ft. lot in Paddocks North, one of east Sarasota’s most consistent deed-restricted communities. 3 bed / 2 bath, 2-car garage, slab foundation, split floor plan. Full original dated condition throughout — original kitchen, original baths, mix of tile and laminate flooring. Roof replaced 2 years ago. HVAC functional at 5 to 7 years. Electrical and plumbing reported good. No flood zone.

House Assets:

• No flood zone. Eliminates flood insurance exposure for the end buyer — a meaningful line item in Sarasota County.
• New roof (2 years). Removes the single largest retail negotiating lever. No replacement needed.
• Paddocks North location. A-rated schools, low HOA, east of I-75, minutes to UTC, Benderson Park, and Celery Fields. Holds value across market cycles.
• 2,010 SF. Larger footprint than most comps in the sub. More livable SF supports a higher ARV ceiling.
• Block construction. Preferred build type in SW Florida for insurance rating and storm resistance.
• 2-car garage. Required for retail resale in this price tier.
• Split floor plan. Primary suite separated from guest bedrooms. Retail buyers and renters both pay for this layout.

Repairs Needed (Investor Pricing):

• Kitchen: Original builder cabinets, tile counters, black appliances. Demo and rebuild with shaker cabs, quartz, stainless appliances, backsplash
• Bathrooms (2): Original vanities, tile surrounds, dated fixtures. Demo and rebuild both
• Flooring: Full replacement throughout all living areas and bedrooms (~2,010 SF)
• Interior Paint: Full walls, ceilings, trim
• Exterior Paint: Stucco block, soffits, trim
• Fixtures, fans, hardware, doors
• Lanai rescreening
• Landscaping and curb appeal
• Contingency (10%)

🟣 Comparable Sales (Last 12 Months)

1. 2323 Paso Fino Dr | 3/2 | 2,112 SF | $400,000 Closed ($189/SF) — Feb 2026. Paddocks North, 0.11 mi, pool. MLS explicitly stated “interior finishes could use updating” and was virtually staged — dated condition pool home. Strip the pool premium (~$35K) and the no-pool as-is value lands near $365,000. Establishes the distressed no-pool floor.
2. 6405 Alesheba Ln | 3/2 | 2,058 SF | $433,000 Closed ($210/SF) — Oct 2025. Paddocks area, 0.29 mi, pool, fireplace. “Pride of ownership” — original finishes throughout, well-kept but not renovated. Sat 106 days. Remove pool premium and no-pool original condition equivalent is approximately $398,000.
3. 2400 Appaloosa Cir | 4/3 | 1,965 SF | $445,000 Closed ($226/SF) — Oct 2025. Same street, Paddocks North, 0.08 mi. Inground pool/spa, pond view, partially refreshed interior, superior bed/bath count. Sold in 4 days. Adjust for pool/spa and extra bed/bath — no-pool 3/2 updated equivalent is approximately $405,000 to $415,000.
4. 6637 Deering Cir | 3/2 | 1,686 SF | $433,000 Closed ($257/SF) — May 2025. Deerfield (adjacent community), no pool. New roof 2024, granite counters, spa-like primary bath. Partially updated, not a full gut. Deerfield trades 3 to 5% above Paddocks North — adjusted to Paddocks North: approximately $245 to $250/SF for partially updated no-pool product.
5. 6600 Deering Cir | 2/2 | 1,652 SF | $399,000 Pending ($242/SF) — April 2026. Deerfield, no pool. 2021 tile roof, impact windows, remodeled baths, stone counters. Went pending in 6 days. Confirms active no-pool updated demand at $242/SF right now — adjusted to Paddocks North: approximately $230 to $235/SF.

🟡 ARV & Rental Analysis

The no-pool comp set establishes $242 to $257/SF for partially updated product in adjacent Deerfield. A fully gut-renovated Paddocks North 3/2 at 2,010 SF should clear partially updated comps — applying $230 to $240/SF after the 3 to 5% Deerfield-to-Paddocks haircut yields a fully renovated no-pool ARV of $462,000 to $482,000. All three pool comps sold at $189 to $226/SF in original or pride-of-ownership condition, confirming the renovation spread is real and achievable with the right finish.

Estimated ARV: $465,000 to $480,000 +/-

Rental Comps (Sarasota 34240, 3 bed):

1. Paddocks area 3/2 | 1,900 to 2,100 SF | $2,400 to $2,700/mo (renovated)
2. East Sarasota 3/2 | 1,800 to 2,000 SF | $2,200 to $2,500/mo (standard)

Projected Rent (renovated, no pool): $2,400 to $2,600/mo +/-