10589 Orbit Ter

Palmer Ranch, FL 34241

$276,259C-

2 bd · 2.5 ba · 1,219 sqft · Built 2026 · Townhouse · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,892/mo
• Mortgage (P&I): −$1,449
• Tax + insurance: −$460
• HOA: −$172
• Vac / Maint / Mgmt: −$607
• Net cashflow: $203/mo
• Annual: $2,440/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.15%
• DSCR: 1.14
• 1% rule: 1.05%
• Cash to close: $77,353

Investor read

• This is a 2-bed/2.5-bath townhouse listed at $276k. Condition is rated excellent.
• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $276k).
• It's been on market 22 days — a 2% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $272k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Riverview High School (math 61% / reading 65%, grade B-, #89 of 667 statewide, top 14%, 2,597 students, 35% FRL).
• Market conditions: Rents soft (-0.1%/yr); 564 active listings in the ZIP; high-income renter base; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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.
• 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.