11940 Kingsley Trl

Ruskin, FL 34219

$480,990F

5 bd · 3.0 ba · 2,934 sqft · Built 2026 · Land · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,303/mo
• Mortgage (P&I): −$2,522
• Tax + insurance: −$533
• HOA: −$147
• Vac / Maint / Mgmt: −$694
• Net cashflow: $-593/mo
• Annual: $-7,117/yr
• Cap rate: 5.13%
• Cash-on-cash: -4.17%
• DSCR: 0.81
• 1% rule: 0.69%
• Cash to close: $134,677

Investor read

• This is a 5-bed/3.0-bath land listed at $481k.
• At list price, monthly cash flow is $-593 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (31.3% below list).
• It's been on market 35 days — a 3% lower offer ($467k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $330k (31.3% 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 $14k of value loss. Plan a longer hold.
• 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.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: Rents soft (-0.9%/yr); 2170 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 35% of the median local income ($114k/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 35 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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?
• 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.