10635 Hidden Banks Gln · Ruskin, FL 34219

$367,000

4 bd · 2.5 ba · 2,260 sqft · Land · 130 Days on market

Built 2026 5,624 sqft lot $71/mo HOA · 2% of rent ↓ 7% since listing

---

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 +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Under Construction. MOVE IN READY! REDTAG SALE! Receive up to $20,000 towards closing costs, $5,000 towards upgrades and special interest rates with the use of our preferred lender - Now through Sunday, April 26th. Oakfield Lakes consists of single-family homes all designed to meet the needs of today’s modern family. At the heart of Oakfield Lakes is The Grove, our central community hub that's an inviting space for socializing, relaxing and playing, featuring dedicated spaces for cooking, food trucks and year-round get-togethers. Available for Oakfield Lakes residents will be a resort-style pool, splash pad, playground and dog park for our 4-legged family members.

Key facts

• 5,624 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: CDD district present; Home warranty included
• HOA & community: HOA managed by First Service Residential; Monthly HOA approximately $71.67; Quarterly association fee ($215); Association amenities: clubhouse, community pool, sidewalks; Association approval required; Pets allowed

Exterior

• Parking: Attached 2-car garage (approx. 20 x 19)
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Underground utilities
• Home design: Single-family residence; Two-story; Under construction (projected completion April 2026); Faces southeast; New construction
• Construction: Block and stucco construction; Shingle roof; Built by D.R. Horton; Builder model: Elston; Slab foundation
• Exterior features: Sliding doors; Pond view; Trees and landscaping; Paved road access; Irrigation equipment; Pool (community)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Slab foundation
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floor plan
• Laundry & utility: Dedicated laundry room; Washer; Dryer

🏗️ 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/2.5-bath land listed at $367k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/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 $332k (9.6% below list).
• Recommended offer: $323k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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; 6 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).
• This rent runs 35% 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 130 days — a 12% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Recommended offer $322,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 9.2

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: -16.7%
• Equity multiple: 0.43×
• Total profit: $-59,011
• Equity at exit: $54,721

10-year hold

• IRR: -14.9%
• Equity multiple: 0.26×
• Total profit: $-75,834
• Equity at exit: $31,731

Cash invested: $102,760 (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: 9.2×

Monthly cashflow live

• Estimated rent: $3,317 high
• Mortgage (P&I): −$1,925
• Tax from tax record: −$312 /mo · $3,744/yr
• Insurance: −$153
• HOA: −$71
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $160

Break-even live

Break-even rent $3,115

Max offer price $367,000

Occupancy floor 90%

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: $91,750
• Closing costs: $11,010
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.09mi
10935 Gentle Current Way Parrish, FL	5.0	3.0	2605	$3,900	$1.50	23d	1	0.17mi
10826 Sapphire Breeze Cv Palmetto, FL	4.0	2.0	1850	$2,500	$1.35	3d	1	0.47mi
11628 Moonsail Dr Parrish, FL	3.0	2.0	2144	$3,500	$1.63	21d	1	1.33mi
11612 Armada Way Parrish, FL	4.0	2.0	2112	$3,400	$1.61	19d	1	1.49mi
8614 Mercator Ct Parrish, FL	4.0	2.5	2910	$3,300	$1.13	23d	1	1.49mi

HOA detail

• Monthly dues: $71 · $852/yr
• Likely covers: pool

Listing history 13 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   price $367,000
3. 2026-04-15
   price $369,000
4. 2026-04-09
   price $372,000
5. 2026-04-03
   price $374,000
6. 2026-03-25
   price $379,000
7. 2026-03-18
   price $382,000
8. 2026-03-12
   price $384,000
9. 2026-03-05
   price $387,000
10. 2026-02-25
    price $389,000
11. 2026-01-28
    price $392,000
12. 2026-01-02
    price $393,990
13. 2025-12-18
    listed $392,990 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: $3,744 · $312/mo
• Projected year-2 tax: $3,744 · $312/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: $39,801
• − Mortgage interest: −$20,558
• − Property taxes: −$3,744
• − Insurance: −$1,835
• − Repairs & maintenance: −$3,184
• − Management: −$3,184
• − HOA: −$852
• − Depreciation: −$10,676
• Taxable loss: −$4,232
• Est. tax savings @ 24.0%: +$1,016
• After-tax cash flow: $2,933/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

-6.6% since first listed

13 events — show timeline

• 2026-04-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $367,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $369,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $372,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $374,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $379,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $382,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $384,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $387,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $389,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Price Changed $392,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $393,990 Stellar MLS as Distributed by MLS Grid
• 2025-12-18 Listed $392,990 Stellar MLS as Distributed by MLS Grid