10604 Orbit Ter · Palmer Ranch, FL 34241

$274,959

2 bd · 2.5 ba · 1,187 sqft · Townhouse · 135 Days on market

Built 2026 Excellent condition $172/mo HOA · 6% of rent

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Why this score? — see what drove the C- 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 +17.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• DSCR +5.4/10.0
• Schools +5.4/10.0
• Condition / age +5.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Ivy at 10604 Orbit Terrace in The Towns at Skye Ranch. This new townhome offers a modern, open-concept design that makes the most of every inch of living space. The kitchen sits at the front of the home with beautiful quartz countertops, a roomy storage pantry, and easy flow into the dining area and great room. Just beyond the great room, an outdoor patio gives you a peaceful spot to relax and enjoy the fresh air. Head upstairs to the private primary suite complete with an en-suite bath and a generous closet. The second floor also offers a secondary bedroom with its own full bathroom and two closets, along with a convenient laundry area. Behind the gates of Skye Ranch, you'll enjoy a thoughtfully crafted master-planned community in the heart of Sarasota. This neighborhood has an abundance of natural beauty, including grand oaks, lush palms, pristine lakes, forested wetlands, and native wildlife. With its location at Clark Road and Lorraine Road, you'll live close to everything you love with easy ways to explore, experience, and enjoy life each day. Additional Highlights Include: GE refrigerator, washer and dryer, whole house blinds, upgraded cabinets, tile on main level, and carpet on second level. Photos are for representative purposes only. MLS#A4681093

Key facts

• Secondary bedroom
• No rear neighbors
• Generous closet

Tags

• NO REAR NEIGHBORS
• OUTDOOR PATIO
• PRIVATE PRIMARY SUITE
• EN-SUITE BATH
• GENEROUS CLOSET
• SECONDARY BEDROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $275k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Market conditions: Rents soft (-0.1%/yr); 564 active listings in the ZIP; high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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 135 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $241,963 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 8.0

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: -15.0%
• Equity multiple: 0.48×
• Total profit: $-39,996
• Equity at exit: $40,997

10-year hold

• IRR: -13.1%
• Equity multiple: 0.35×
• Total profit: $-50,281
• Equity at exit: $23,773

Cash invested: $76,989 (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 34241

• Rents YoY: -0.1%
• Active inventory: 564
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,878 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,124/yr
• Insurance: −$115
• HOA: −$172
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $202

Break-even live

Break-even rent $2,623

Max offer price $274,959

Occupancy floor 88%

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: $68,740
• Closing costs: $8,249
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $172 · $2,064/yr

Listing history 18 events

1. 2026-06-18
   days on market $274,959 Active 135 DOM
2. 2026-06-17
   days on market $274,959 Active 134 DOM
3. 2026-06-16
   days on market $274,959 Active 133 DOM
4. 2026-06-15
   days on market $274,959 Active 132 DOM
5. 2026-06-13
   days on market $274,959 Active 130 DOM
6. 2026-06-13
   days on market $274,959 Active 129 DOM
7. 2026-06-10
   days on market $274,959 Active 127 DOM
8. 2026-06-09
   days on market $274,959 Active 126 DOM
9. 2026-06-08
   days on market $274,959 Active 125 DOM
10. 2026-06-08
    days on market $274,959 Active 124 DOM
11. 2026-06-05
    days on market $274,959 Active 121 DOM
12. 2026-06-03
    days on market $274,959 Active 120 DOM
13. 2026-06-02
    days on market $274,959 Active 119 DOM
14. 2026-06-01
    days on market $274,959 Active 118 DOM
15. 2026-05-31
    days on market $274,959 Active 117 DOM
16. 2026-02-03
    price $274,959 1290-char remark

    Show marketing remark (1474 chars)

    Under Construction. What's Special: Close to Amenity | No Rear Neighbors | Close to Park. New Construction - June Completion! Built by America's Most Trusted Home Builder. Welcome to the Ivy at 10604 Orbit Terrace in The Towns at Skye Ranch. This new townhome offers a modern, open-concept design that makes the most of every inch of living space. The kitchen sits at the front of the home with beautiful quartz countertops, a roomy storage pantry, and easy flow into the dining area and great room. Just beyond the great room, an outdoor patio gives you a peaceful spot to relax and enjoy the fresh air. Head upstairs to the private primary suite complete with an en-suite bath and a generous closet. The second floor also offers a secondary bedroom with its own full bathroom and two closets, along with a convenient laundry area. Behind the gates of Skye Ranch, you’ll enjoy a thoughtfully crafted master-planned community in the heart of Sarasota. This neighborhood has an abundance of natural beauty, including grand oaks, lush palms, pristine lakes, forested wetlands, and native wildlife. With its location at Clark Road and Lorraine Road, you’ll live close to everything you love with easy ways to explore, experience, and enjoy life each day. Additional Highlights Include: GR refrigerator, washer and dryer, whole house blinds, upgraded cabinets, tile on main level, and carpet on second level. Photos are for representative purposes only. MLS#A4681093

17. 2026-02-03
    listed $274,959 Active 1474-char remark

    Show marketing remark (1474 chars)

    Under Construction. What's Special: Close to Amenity | No Rear Neighbors | Close to Park. New Construction - June Completion! Built by America's Most Trusted Home Builder. Welcome to the Ivy at 10604 Orbit Terrace in The Towns at Skye Ranch. This new townhome offers a modern, open-concept design that makes the most of every inch of living space. The kitchen sits at the front of the home with beautiful quartz countertops, a roomy storage pantry, and easy flow into the dining area and great room. Just beyond the great room, an outdoor patio gives you a peaceful spot to relax and enjoy the fresh air. Head upstairs to the private primary suite complete with an en-suite bath and a generous closet. The second floor also offers a secondary bedroom with its own full bathroom and two closets, along with a convenient laundry area. Behind the gates of Skye Ranch, you’ll enjoy a thoughtfully crafted master-planned community in the heart of Sarasota. This neighborhood has an abundance of natural beauty, including grand oaks, lush palms, pristine lakes, forested wetlands, and native wildlife. With its location at Clark Road and Lorraine Road, you’ll live close to everything you love with easy ways to explore, experience, and enjoy life each day. Additional Highlights Include: GR refrigerator, washer and dryer, whole house blinds, upgraded cabinets, tile on main level, and carpet on second level. Photos are for representative purposes only. MLS#A4681093

18. 2026-02-01
    listed $274,459 Active 1290-char remark

    Show marketing remark (1290 chars)

    Welcome to the Ivy at 10604 Orbit Terrace in The Towns at Skye Ranch. This new townhome offers a modern, open-concept design that makes the most of every inch of living space. The kitchen sits at the front of the home with beautiful quartz countertops, a roomy storage pantry, and easy flow into the dining area and great room. Just beyond the great room, an outdoor patio gives you a peaceful spot to relax and enjoy the fresh air. Head upstairs to the private primary suite complete with an en-suite bath and a generous closet. The second floor also offers a secondary bedroom with its own full bathroom and two closets, along with a convenient laundry area. Behind the gates of Skye Ranch, you'll enjoy a thoughtfully crafted master-planned community in the heart of Sarasota. This neighborhood has an abundance of natural beauty, including grand oaks, lush palms, pristine lakes, forested wetlands, and native wildlife. With its location at Clark Road and Lorraine Road, you'll live close to everything you love with easy ways to explore, experience, and enjoy life each day. Additional Highlights Include: GE refrigerator, washer and dryer, whole house blinds, upgraded cabinets, tile on main level, and carpet on second level. Photos are for representative purposes only. MLS#A4681093

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,540
• − Mortgage interest: −$15,402
• − Property taxes: −$4,124
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,763
• − Management: −$2,763
• − HOA: −$2,064
• − Depreciation: −$7,999
• Taxable loss: −$1,951
• Est. tax savings @ 24.0%: +$468
• After-tax cash flow: $2,888/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This new construction townhome is move-in ready with excellent condition and modern design. It offers a great location with amenities and a beautiful exterior.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Painting exterior walls — Freshens up the exterior and adds curb appeal
• Both Upgrading window treatments — Enhances curb appeal and adds value
• Both Adding a small outdoor patio — Creates a relaxing space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior walls — Freshens up the exterior and adds curb appeal ↑
• Both Upgrading window treatments — Enhances curb appeal and adds value ↑
• Both Adding a small outdoor patio — Creates a relaxing space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 16,408
• Household income: $116,412
• Rent vs Own: 11.1% rent · 88.9% own
• Severe rent burden: 69.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 7% Slovak 3% Scandinavian 2%
• Foreign-born: 10% · Canada, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -363.72%
• Current HPI: 278.3404
• Rent YoY: ▬ -0.05%
• 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

+0.2% since first listed

3 events — show timeline

• 2026-02-03 Price Changed $274,959 Zillow
• 2026-02-03 Listed $274,959 Stellar MLS as Distributed by MLS Grid
• 2026-02-01 Listed $274,459 Zillow