2144 Sadnet Ln

North Port, FL 34286

$374,000D-

4 bd · 3.0 ba · 1,998 sqft · Built 2025 · SingleFamily · Active · 287 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,431/mo
• Mortgage (P&I): −$1,961
• Tax + insurance: −$627
• HOA: −$0
• Vac / Maint / Mgmt: −$511
• Net cashflow: $-667/mo
• Annual: $-8,005/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.64%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $104,720

Investor read

• This is a 4-bed/3.0-bath single-family listed at $374k.
• At list price, monthly cash flow is $-667 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (35.0% below list).
• It's been on market 287 days — a 12% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $243k (35.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#252 in FL, #3,975 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute 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: Toledo Blade Elementary School (math 71% / reading 67%, grade A-, #399 of 2,144 statewide, top 19%, 799 students, 57% FRL); Woodland Middle School (math 57% / reading 57%, grade B, #164 of 571 statewide, top 30%, 978 students, 55% FRL); North Port High School (math 44% / reading 57%, grade D+, #171 of 667 statewide, top 26%, 2,562 students, 54% FRL).
• Market conditions: Rents rising (+1.1%/yr); 852 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $26k; list at $374k implies a 1338% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 36% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 287 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?