10406 Hidden Banks Gln · Ruskin, FL 34219

$378,080

4 bd · 3.0 ba · 2,203 sqft · Land · 57 Days on market

Built 2026 7,298 sqft lot $71/mo HOA · 2% 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 +13.7/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The McNair blends style and functionality with an open-concept layout that connects the kitchen, dining, and gathering areas with ease. A covered lanai extends the living space outdoors, offering peaceful conservation views.

Key facts

• Expansive clubhouse
• Resort-style pool
• Nature trails

Tags

• NEW CONSTRUCTION HOME
• MASTER-PLANNED COMMUNITY
• EXPANSIVE CLUBHOUSE
• RESORT-STYLE POOL
• NATURE TRAILS
• PARK AND PLAYGROUND AREAS

Property features AI

Finance

• Other: Builder license CBC1262018; Permit number BLD2507-5176; Lot approximately 0.16 acre (0 to less than 1/4 acre)
• Financial info: Other annual assessment: $2,822; Lease restrictions apply
• HOA & community: HOA with monthly fee of $71.42 (Association: FirstService Residential); Association approval required; Community features: fitness center, pool, park, sidewalks, deed restrictions, irrigation (reclaimed water), golf carts allowed

Exterior

• Parking: Driveway; Attached 2-car garage with garage door opener
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Phone available; Underground utilities; Sprinkler with recycled/irrigation reclaimed water; Water connected; Sewer connected
• Home design: Single family residence; Two-story home; Under construction (projected completion 2026-07-31); Home faces southwest; Entry on main level
• Construction: Block and stucco construction; Shingle roof; Slab foundation; New construction by Pulte Home Company, LLC (Model: MCNAIR)
• Exterior features: Covered rear porch; Sliding doors; Hurricane shutters; Pool (other-type); Landscaped with trees; Cul-de-sac lot; Sidewalks; Paved roads

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Solid surface counters; Eat-in kitchen
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heat; Central air
• Interior features: Eat-in kitchen; Open floorplan; Solid surface counters; Thermostat; Walk-in closets; In-wall pest system / pest guard system; Blinds
• Laundry & utility: Washer and dryer included (appliances listed); Laundry room on upper level; Electric water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $378k.

Deal economics

• At list price, monthly cash flow is $28 ($339/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 $322k (14.8% below list).
• Recommended offer: $322k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.7% in Ruskin — 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 71/100 on livability (#392 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B+; Watch: amenities F, health & safety F.
• 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: Barbara A Harvey Elementary School (math 74% / reading 59%, grade B+, #473 of 2,144 statewide, top 23%, 1,069 students, 33% FRL); Parrish Community High School (math 47% / reading 57%, grade D+, #160 of 667 statewide, top 25%, 2,017 students, 32% FRL) — zoned schools average 33% FRL vs 51% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.9%/yr); 2170 active listings in the ZIP; 7 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).
• This rent runs 34% 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 $3k of loan paydown is wiped out by about $11k 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 57 days — a 3% lower offer ($367k) 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 $322,224 (14.8% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 15% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.85% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 9.8

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-68,920
• Equity at exit: $56,373

10-year hold

• IRR: -19.2%
• Equity multiple: 0.11×
• Total profit: $-94,234
• Equity at exit: $32,689

Cash invested: $105,862 (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: 2170
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,222 high
• Mortgage (P&I): −$1,983
• Tax from tax record: −$306 /mo · $3,673/yr
• Insurance: −$158
• HOA: −$71
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $28

Break-even live

Break-even rent $3,187

Max offer price $378,080

Occupancy floor 94%

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: $94,520
• Closing costs: $11,342
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10749 Hidden Banks Gln Parrish, FL	5.0	3.0	2447	$2,549	$1.04	23d	1	0.22mi
10646 Hidden Banks Gln Parrish, FL	3.0	2.0	1504	$2,350	$1.56	16d	1	0.27mi
10935 Gentle Current Way Parrish, FL	5.0	3.0	2605	$3,900	$1.50	23d	1	0.37mi
10826 Sapphire Breeze Cv Palmetto, FL	4.0	2.0	1850	$2,500	$1.35	3d	1	0.48mi
11628 Moonsail Dr Parrish, FL	3.0	2.0	2144	$3,500	$1.63	21d	1	1.20mi
11612 Armada Way Parrish, FL	4.0	2.0	2112	$3,400	$1.61	20d	1	1.36mi
8614 Mercator Ct Parrish, FL	4.0	2.5	2910	$3,300	$1.13	23d	1	1.39mi

HOA detail

• Monthly dues: $71 · $852/yr

Listing history 18 events

1. 2026-06-18
   days on market $378,080 Active 57 DOM
2. 2026-06-17
   days on market $378,080 Active 56 DOM
3. 2026-06-16
   days on market $378,080 Active 55 DOM
4. 2026-06-15
   days on market $378,080 Active 54 DOM
5. 2026-06-13
   days on market $378,080 Active 52 DOM
6. 2026-06-13
   days on market $378,080 Active 51 DOM
7. 2026-06-10
   days on market $378,080 Active 49 DOM
8. 2026-06-09
   days on market $378,080 Active 48 DOM
9. 2026-06-08
   days on market $378,080 Active 47 DOM
10. 2026-06-08
    days on market $378,080 Active 46 DOM
11. 2026-06-03
    days on market $378,080 Active 42 DOM
12. 2026-06-02
    days on market $378,080 Active 41 DOM
13. 2026-06-01
    days on market $378,080 Active 40 DOM
14. 2026-05-31
    days on market $378,080 Active 39 DOM
15. 2026-05-20
    price $378,080

    Show marketing remark (224 chars)

    The McNair blends style and functionality with an open-concept layout that connects the kitchen, dining, and gathering areas with ease. A covered lanai extends the living space outdoors, offering peaceful conservation views.

16. 2026-05-20
    price $378,080 224-char remark

    Show marketing remark (224 chars)

    The McNair blends style and functionality with an open-concept layout that connects the kitchen, dining, and gathering areas with ease. A covered lanai extends the living space outdoors, offering peaceful conservation views.

17. 2026-05-01
    listed $380,380 Active 224-char remark

    Show marketing remark (224 chars)

    The McNair blends style and functionality with an open-concept layout that connects the kitchen, dining, and gathering areas with ease. A covered lanai extends the living space outdoors, offering peaceful conservation views.

18. 2026-04-22
    listed $380,380 Active

ⓘ 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: $3,673 · $306/mo
• Projected year-2 tax: $3,673 · $306/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $38,667
• − Mortgage interest: −$21,178
• − Property taxes: −$3,673
• − Insurance: −$1,890
• − Repairs & maintenance: −$3,093
• − Management: −$3,093
• − HOA: −$852
• − Depreciation: −$10,999
• Taxable loss: −$6,113
• Est. tax savings @ 24.0%: +$1,467
• After-tax cash flow: $1,806/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 — Ruskin

• Score: 71/100
• State rank: #392
• US rank: #6879

Category grades

Amenities F Commute B+ Cost of living A+ Crime B- Employment B- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

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

-0.6% since first listed

4 events — show timeline

• 2026-05-20 Price Changed $378,080 Stellar MLS as Distributed by MLS Grid
• 2026-05-20 Price Changed $378,080 Zillow
• 2026-05-01 Listed $380,380 Zillow
• 2026-04-22 Listed $380,380 Stellar MLS as Distributed by MLS Grid

Property tax history

+56.0%/yr

Latest (2025): $3,673 · +56.0% YoY. Source: county tax records.