10766 Eclipse St

Palmer Ranch, FL 34241

$322,529C-

3 bd · 2.5 ba · 1,404 sqft · Built 2026 · Townhouse · Pending · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,322/mo
• Mortgage (P&I): −$1,691
• Tax + insurance: −$538
• HOA: −$172
• Vac / Maint / Mgmt: −$698
• Net cashflow: $223/mo
• Annual: $2,682/yr
• Cap rate: 7.12%
• Cash-on-cash: 2.97%
• DSCR: 1.13
• 1% rule: 1.03%
• Cash to close: $90,308

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $323k. Condition is rated excellent.
• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $323k).
• It's been on market 121 days — a 12% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $284k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• This rent runs 34% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 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.