1634 Love Grass Ter · Lakewood Ranch, FL 34219

$299,000

3 bd · 2.0 ba · 1,564 sqft · Land · 93 Days on market

Built 2026 5,327 sqft lot $149/mo HOA · 5% 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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. MOVE IN READY! Receive up to $15,000 towards closing costs and special interest rates with the use of our preferred lender + $5,000 towards upgrades - Now through Sunday, May 31st. Legacy Preserve is D. R. Horton's newest community located off of North Rye Road, just north of Upper Manatee River Road. All of our homes feature all-concrete block construction on the first and second floors and D. R. Horton’s state-of-the-art Smart Home Automation system. Leacy Preserve's first amenity center is currently under construction and will contain a clubhouse, resort-style pool, playground, dog park, fitness center and open lawn space for sports and activ

Key facts

• 5,327 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Projected completion date in March 2026; Home warranty available; Permit and builder license information on file
• Financial info: Other annual assessment noted; Lease restrictions apply
• HOA & community: HOA present; monthly HOA ~$149 (quarterly association fee listed); Association amenities include clubhouse, pool, and maintenance; Association approval required; Deed-restricted community; Pets allowed

Exterior

• Parking: Attached 2-car garage (20x20) with garage door opener; Driveway
• Security: Fire alarm, fire sprinkler system, and smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Sewer connected
• Home design: Single family residence; One story; Completed/new construction; Northeast-facing
• Construction: Block and concrete construction; Shingle roof; Slab foundation; Built by D.R. Horton (model: CARRINGTON)
• Exterior features: Covered patio/porch; Hurricane shutters; Exterior lighting; Sliding doors; Landscaped yard; Sidewalks; Paved driveway and roads; Irrigation equipment (community reclaimed water available)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan; Thermostat; Walk-in closets; Window treatments; Blinds; Double-pane windows; Fire alarm, fire sprinkler system, and smoke detectors
• Laundry & utility: Washer; Dryer; Laundry closet and separate laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $299k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (3.4% below list).
• Recommended offer: $272k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.3% in Lakewood Ranch — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: William H. Bashaw Elementary (math 51% / reading 44%, grade D, #1,182 of 2,144 statewide, top 55%, 684 students, 69% FRL); Buffalo Creek Middle School (math 59% / reading 51%, grade B-, #180 of 571 statewide, top 32%, 1,127 students, 44% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL).
• Market conditions: Rents soft (-0.9%/yr); 2194 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 30% of the median local income ($114k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $47k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $272,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.13%
• DSCR: 1.18
• GRM: 8.6

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: -13.2%
• Equity multiple: 0.54×
• Total profit: $-38,559
• Equity at exit: $44,582

10-year hold

• IRR: -9.5%
• Equity multiple: 0.49×
• Total profit: $-42,647
• Equity at exit: $25,852

Cash invested: $83,720 (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 34219

• Home prices YoY: -23.7%
• Rents YoY: -0.9%
• Active inventory: 2194
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,887 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$151 /mo · $1,813/yr
• Insurance: −$125
• HOA: −$149
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $288

Break-even live

Break-even rent $2,522

Max offer price $299,000

Occupancy floor 85%

Sensitivity live

Price	-10% $457	-5% $373	+0% $288	+5% $204	+10% $119
Rent	-10% $60	-5% $174	+0% $288	+5% $402	+10% $516
Rate	-1.0pp $439	-0.5pp $364	base $288	+0.5pp $211	+1.0pp $132

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16823 Destrehen Ct Parrish, FL	3.0	2.0	1744	$2,490	$1.43	4d	1	0.39mi
2726 Greenleaf Ter Parrish, FL	3.0	2.0	1651	$2,200	$1.33	25d	1	0.97mi

HOA detail

• Monthly dues: $149 · $1,788/yr
• Likely covers: poolgym

Listing history 11 events

1. 2026-05-11
   status Pending
2. 2026-05-06
   status Active
3. 2026-05-06
   price $299,000
4. 2026-04-29
   price $309,000
5. 2026-03-05
   price $327,000
6. 2026-02-25
   price $329,000
7. 2026-02-18
   price $332,000
8. 2026-02-10
   price $334,000
9. 2026-01-14
   price $335,990
10. 2025-12-05
    listed $345,990 Active
11. 2025-05-14
    soldstatus $2,324,800

ⓘ 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: $1,813 · $151/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$669/yr (+$56/mo · 36.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,645
• − Mortgage interest: −$16,749
• − Property taxes: −$1,813
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,772
• − Management: −$2,772
• − HOA: −$1,788
• − Depreciation: −$8,698
• Taxable loss: −$1,440
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $3,804/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Lakewood Ranch

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

Census & demographics

• County: Manatee County · 416,364 people
• City population: 33,319
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 33,296
• Household income: $113,773
• Rent vs Own: 8.1% rent · 91.9% own
• Severe rent burden: 219.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 4% Hispanic 2% Russian 2%
• Foreign-born: 10% · Canada, Dominican Republic, Jamaica
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 2% Other Asian/Pacific 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.45%
• Current HPI: 271.7131
• Rent YoY: ▼ -0.95%
• 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

-87.1% since first listed

11 events — show timeline

• 2026-05-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $299,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $309,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $327,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $329,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $332,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Price Changed $334,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Price Changed $335,990 Stellar MLS as Distributed by MLS Grid
• 2025-12-05 Listed $345,990 Stellar MLS as Distributed by MLS Grid
• 2025-05-14 Sold (Public Records) $2,324,800 Public Records

Property tax history

+32211.9%/yr

Latest (2025): $1,813 · +32211.9% YoY. Source: county tax records.