9175 Aurelia Ave

Ruskin, FL 34219

$299,074D

3 bd · 2.5 ba · 1,691 sqft · Built 2025 · Land · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,796/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$159
• Vac / Maint / Mgmt: −$587
• Net cashflow: $-17/mo
• Annual: $-200/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• 1% rule: 0.94%
• Cash to close: $83,741

Investor read

• This is a 3-bed/2.5-bath land listed at $299k.
• At list price, monthly cash flow is $-17 ($-200/yr) — negative.
• To cash-flow at today's rent, offer at most $297k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (6.5% below list).
• It's been on market 35 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (6.5% 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 $9k 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: schools F, 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.
• 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 16d 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.
• Cap rate 6.2% 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.

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 6% 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.
• 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.
• 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.