5600 Bentgrass Dr Unit 8-107

The Meadows, FL 34235

$195,000C-

1 bd · 1.5 ba · 1,032 sqft · Built 2002 · Condo · Pending · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,952/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$127
• HOA: −$428
• Vac / Maint / Mgmt: −$410
• Net cashflow: $-35/mo
• Annual: $-423/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• 1% rule: 1.00%
• Cash to close: $54,600

Investor read

• This is a 1-bed/1.5-bath condo listed at $195k.
• At list price, monthly cash flow is $-35 ($-423/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (3.2% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 20 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (3.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#465 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Emma E. Booker Elementary School (math 35% / reading 32%, grade F, #1,758 of 2,144 statewide, top 83%, 468 students, 93% FRL); Booker High School (math 26% / reading 43%, grade F, #386 of 667 statewide, top 59%, 1,309 students, 68% FRL) — zoned schools average 80% FRL vs 42% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 63% district-wide (-29 pts) — the specific schools serving this property underperform the Sarasota average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents rising fast (+9.7%/yr); 227 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.