14510 Banks Ct

Lakewood Ranch, FL 34219

$509,999F

4 bd · 3.0 ba · 2,670 sqft · Built 2026 · SingleFamily · Active · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,460/mo
• Mortgage (P&I): −$3,906
• Tax + insurance: −$1,242
• HOA: −$119
• Vac / Maint / Mgmt: −$937
• Net cashflow: $-1,743/mo
• Annual: $-20,920/yr
• Cap rate: 3.48%
• Cash-on-cash: -10.03%
• DSCR: 0.55
• 1% rule: 0.60%
• Cash to close: $208,580

Investor read

• This is a 4-bed/3.0-bath single-family listed at $510k.
• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $493k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $446k (12.5% below list).
• It's been on market 136 days — a 12% lower offer ($449k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $446k (12.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads: area grade F — 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.
• Market conditions: Rents soft (-0.9%/yr); 2170 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $4,460/mo this rent would consume 47% of the median local household income ($114k/yr) (locally 219% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 136 days. Have you received any prior offers? Is the seller open to a 13% 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.
• 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?
• 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.