← Alpha board
gulf access canal · Longboat Key, Manatee County, FL
651 Jungle Queen Way, Longboat Key, FL 34228
screenedBenchmarkevidence: high
diligence
model pb-score-v1
Cheapest 60-ft-seawall canal home on the benchmark island: buy remediated shell at land-plus value, rebuild/elevate, exit into dredged-canal market at Longbeach Village comps well above $1.5M.
Asking price
$835,000
Suggested offer
$735,000
Do-not-exceed
$793,000
Renovation range
—
Visible scores — no black box
Asset — quality & scarcity83
Alpha — why the market is wrong78
Operating — durable use / income75
Risk — threats to capital (low is good)42
RealtyFund fit85
Composite77
Thesis
Named catalyst
Flood-remediated shell; five price cuts totaling $115K ($950K Jan 2026 -> $835K Jul 2026); ~160 DOM; in foreclosure/distress feeds; inside the town's newly funded 88-canal dredging program; 60 ft seawall, no fixed bridges to Sarasota Bay, deeded beach access
Revenue strategy
Rebuild/elevate, resale or luxury STR
Primary risks
- rebuild cost inflation and FEMA 50% rule could force elevation/new build
- 1978-era structure may hide latent damage post-remediation
- north-end Longboat resale liquidity thinner than mid-key
Evidence room
| Source | Kind | Retrieved | Link |
|---|---|---|---|
| Homes.com listing (price history, DOM) | listing | 2026-08-01 | open → |
| Longboat Key Foreclosures & REOs (MFRMLS) | listing | 2026-08-01 | open → |
| Your Observer canal dredging | news | 2026-08-01 | open → |
Next action
Qualified opportunities advance to RealtyFund diligence. Rehab routes to HomeManager / Handyman / ServiceEscrow; stabilized operations route to PropertyManagement.