6392 Draw Ln #40 · Palmer Ranch, FL 34238

$180,000

2 bd · 2.0 ba · 1,482 sqft · Condo public records · 48 Days on market

Built 1974 $428/mo HOA · 21% of rent

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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 +11.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.4/10.0
• Appreciation +4.7/10.0
• DSCR +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +0.5/5.0

Listing remarks MLS

Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

Key facts

• Open floor plan
• Split-bedroom layout
• Covered carport

Tags

• OPEN FLOOR PLAN
• EXPANSIVE SLIDING GLASS DOORS
• SPLIT-BEDROOM LAYOUT
• LARGE WALK-IN CLOSET
• UPDATED METAL ROOF
• COVERED CARPORT

Property features AI

Finance

• Other: Total acreage for the development: approximately 8.3 acres
• Financial info: Lease restrictions apply
• HOA & community: HOA managed by Justin-Civix Property Management; Monthly HOA dues of $428.33 (quarterly association fee listed as $1,285); HOA approval required; HOA covers pool, escrow reserves, fidelity bond, structure maintenance, and grounds maintenance; Community features include deed restrictions, reclaimed water irrigation, pool, sidewalks, and street lights; Pets allowed (max 50 lbs)

Exterior

• Parking: Covered parking
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available; Phone available; BB/HS internet available; Underground utilities; Sewer connected; Water connected
• Home design: Condominium; One story; Faces east; Entry on first floor
• Construction: Block and stucco construction; Metal roof; Slab foundation; Built as part of a larger building (building number 6392)
• Exterior features: Sidewalk; Sliding doors

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floorplan; Vaulted ceilings; Walk-in closets; Window treatments
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-63 ($-758/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (6.2% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Ashton Elementary School (math 89% / reading 87%, grade A+, #18 of 2,144 statewide, top 1%, 1,046 students, 28% FRL); Sarasota Middle School (math 82% / reading 78%, grade A+, #21 of 571 statewide, top 4%, 1,278 students, 26% FRL); Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Zoned-school proficiency averages 77% at this address vs 63% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Sarasota average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents falling (-8.2%/yr); 490 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• In year one you build about $239 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• 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 48 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,835 (6.2% 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 48 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.12% ✓
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.56% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.61×
• Total profit: $-19,569
• Equity at exit: $47,298

10-year hold

• IRR: -5.7%
• Equity multiple: 0.50×
• Total profit: $-25,371
• Equity at exit: $53,028

Cash invested: $50,400 (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 34238

• Home prices YoY: -0.2%
• Rents YoY: -8.2%
• Active inventory: 490
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,009 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$204 /mo · $2,442/yr
• Insurance: −$75
• HOA: −$428
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-63

Break-even live

Break-even rent $2,089

Max offer price $168,835

Occupancy floor 98%

Sensitivity live

Price	-10% $39	-5% $-12	+0% $-63	+5% $-114	+10% $-165
Rent	-10% $-222	-5% $-143	+0% $-63	+5% $16	+10% $96
Rate	-1.0pp $27	-0.5pp $-17	base $-63	+0.5pp $-110	+1.0pp $-157

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $428 · $5,136/yr
• Likely covers: cablelandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $180,000 Active 48 DOM
2. 2026-06-18
   days on market $180,000 Active 45 DOM
3. 2026-06-17
   days on market $180,000 Active 44 DOM
4. 2026-06-16
   days on market $180,000 Active 43 DOM
5. 2026-06-15
   status $180,000 Active 42 DOM
6. 2026-06-13
   status $180,000 Pending 42 DOM
7. 2026-06-10
   days on market $180,000 Active 42 DOM
8. 2026-06-09
   days on market $180,000 Active 41 DOM
9. 2026-06-08
   days on market $180,000 Active 40 DOM
10. 2026-06-08
    days on market $180,000 Active 39 DOM
11. 2026-06-05
    days on market $180,000 Active 36 DOM
12. 2026-06-03
    days on market $180,000 Active 35 DOM
13. 2026-06-02
    days on market $180,000 Active 34 DOM
14. 2026-06-01
    days on market $180,000 Active 33 DOM
15. 2026-05-31
    days on market $180,000 Active 32 DOM
16. 2026-05-15
    price $190,000 1432-char remark
17. 2026-04-29
    listed $200,000 Active 1432-char remark
18. 2023-02-16
    soldstatus $270,000
19. 2023-02-11
    status Pending 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

20. 2023-02-10
    soldstatus $270,000 Closed 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

21. 2023-02-10
    soldstatus $270,000 Closed 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

22. 2023-01-11
    status Pending 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

23. 2022-10-20
    price $284,500 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

24. 2022-09-13
    listed $299,000 Active 1182-char remark

    Show marketing remark (1182 chars)

    Affordable and attractive 2/2 villa with carport. Prime, private location in community with unobstructed view of the greenbelt in the rear of the villa. Washer and dryer in the unit. Large master bedroom suite with walk in closet large enough to be a small office. Closet space galore in connecting hallway. Master bath has a separate vanity outside of bathroom with walk in shower, toilet and linen closet. Living room/dining room with open counter space leading into the kitchen. Lovely view and light from the glassed in lanai which adds to the square footage. Split plan with a separate guest bedroom suite with its own bath with tub/shower and walk in closet plus an extra window. Pull down staircase to attic for extra storage space. Beautiful red metal roofs. Carport has storage closet for bikes, beach chairs etc. Condo association fee is affordable. The Sunrise community offers a heated community pool and tennis courts for resort style living, and includes exterior maintenance, landscaping, pest control, and basic cable TV, among other amenities. Convenient to I 75, shopping, restaurants, medical facilities and only nine miles away from famous Siesta Key Beachplaces

25. 2006-06-30
    soldstatus $180,000
26. 2006-06-29
    soldstatus $180,000

    Show marketing remark (262 chars)

    SUNRISE GOLF CLUB CONDO. SPLIT PLAN, UPDATED. LANAI ENCLOSED TO BE PART OF LIVINGROOM W/ SLIDING GLASS DOOR. DETACHED CARPORT WITH STORAGE. CLOSE TO I-75, CONVENIENT TO RESTAURANTS, SHOPPING & 5 MILES TO SIESTA KEY BEACH. HEATED POOL, & TENNIS COURTS.

27. 2005-12-27
    listed $199,000

    Show marketing remark (262 chars)

    SUNRISE GOLF CLUB CONDO. SPLIT PLAN, UPDATED. LANAI ENCLOSED TO BE PART OF LIVINGROOM W/ SLIDING GLASS DOOR. DETACHED CARPORT WITH STORAGE. CLOSE TO I-75, CONVENIENT TO RESTAURANTS, SHOPPING & 5 MILES TO SIESTA KEY BEACH. HEATED POOL, & TENNIS COURTS.

28. 2005-10-04
    listed $250,000
29. 1978-05-01
    soldstatus $33,000

ⓘ 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: $2,442 · $204/mo
• Projected year-2 tax: $2,442 · $204/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $24,110
• − Mortgage interest: −$10,083
• − Property taxes: −$2,442
• − Insurance: −$900
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − HOA: −$5,136
• − Depreciation: −$5,236
• Taxable loss: −$3,545
• Est. tax savings @ 24.0%: +$851
• After-tax cash flow: $92/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 — Palmer Ranch

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 22,808
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 23,821
• Household income: $97,926
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 841.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 3%
• Hispanic origin (detail): Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 86% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -0.56%
• Current HPI: 232.3872
• Rent YoY: ▼ -8.18%
• 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

+445.5% since first listed

17 events — show timeline

• 2026-06-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-06-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-29 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-16 Sold (Public Records) $270,000 Public Records
• 2023-02-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-02-10 Sold (MLS) $270,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-10 Sold (MLS) $270,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-10-20 Price Changed $284,500 Stellar MLS as Distributed by MLS Grid
• 2022-09-13 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 2006-06-30 Sold (Public Records) $180,000 Public Records
• 2006-06-29 Sold (MLS) $180,000 Stellar MLS as Distributed by MLS Grid
• 2005-12-27 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2005-10-04 Listed $250,000 Stellar MLS as Distributed by MLS Grid
• 1978-05-01 Sold (Public Records) $33,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,442 · -2.3% YoY. Source: county tax records.