15245 Lyla Ter

Lakewood Ranch, FL 34211

$348,000D-

3 bd · 2.5 ba · 1,887 sqft · Built 2021 · Townhouse · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,332/mo
• Mortgage (P&I): −$1,825
• Tax + insurance: −$647
• HOA: −$237
• Vac / Maint / Mgmt: −$700
• Net cashflow: $-76/mo
• Annual: $-916/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• 1% rule: 0.96%
• Cash to close: $97,440

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $348k. Condition is rated excellent.
• At list price, monthly cash flow is $-76 ($-916/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $333k (4.2% below list).
• It's been on market 57 days — a 3% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $333k (4.2% below list) — sets the bar for 1% rule.
• 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 D — 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 falling (-5.2%/yr); 1154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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.
• 10 sale attempts since 5y ago; this cycle's ask is 11126% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $276k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 3.3% in Lakewood Ranch — 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.
• This rent runs 33% of the median local income ($120k/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 57 days. Have you received any prior offers? Is the seller open to a 4% 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?
• 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.
• 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.