Richmond Plan · Palmetto, FL 34221

$429,990

6 bd · 3.0 ba · 3,092 sqft · SingleFamily · 152 Days on market

Good condition 2-car garage

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.2/30.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +1.8/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

One of the largest plans in this collection, this two-story home has an abundance of space with six bedrooms to offer restful retreats for the whole family. Off the foyer is a versatile flex space, followed by a modern free-flowing design to add a sense of unity amid the open kitchen, dining room and family room. The second floor is host to the sprawling owner's suite and a large loft for shared entertainment.

Key facts

• 2 garage spots
• Listed 152 days

🏗️ New construction. The $429,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $576,942.

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $430k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $380k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $341k (20.7% below list).
• Recommended offer: $341k (20.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#346 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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: James Tillman Elementary Magnet School (math 65% / reading 34%, grade D, #1,088 of 2,144 statewide, top 53%, 520 students, 74% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL) — zoned schools average 68% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 52% district-wide (-13 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-3.0%/yr); 1580 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• At $3,408/mo this rent would consume 53% of the median local household income ($78k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 152 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,798 (20.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.59% ✗
• Cap rate: 3.60%
• Cash-on-cash: -9.62%
• DSCR: 0.57
• GRM: 14.1

CMA / ARV

• ARV (median comp): $576,942
• List price: $429,990
• Delta: -23.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11593 69th Pl E	0.55mi	5/4.5 (-1)	3,100 (+0%)	5mo	$661,090	$213	58
7176 119th Ct E	0.68mi	5/4.0 (-1)	2,776 (-10%)	4mo	$414,740	$149	39
11133 Fieldstone Dr	0.74mi	5/4.0 (-1)	3,422 (+11%)	1mo	$675,000	$197	38
6830 E 115th St	0.68mi	5/4.0 (-1)	3,336 (+8%)	13mo	$527,240	$158	35
11515 E 69th Pl	0.69mi	5/4.0 (-1)	3,336 (+8%)	14mo	$534,590	$160	33
6849 E 115th St	0.73mi	5/4.0 (-1)	3,336 (+8%)	15mo	$559,900	$168	32
6916 E 115th St	0.74mi	5/4.0 (-1)	3,336 (+8%)	16mo	$544,000	$163	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -37.9%
• Equity multiple: -0.18×
• Total profit: $-190,085
• Equity at exit: $86,024

10-year hold

• IRR: -79.3%
• Equity multiple: -0.95×
• Total profit: $-315,385
• Equity at exit: $49,883

Cash invested: $161,544 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 47 active · 3 under contract
• Months of supply: 40.3 mo (2%/mo absorbed)
• Median asking: $421,490 ($149/sqft)
• Median days on market: 40 d
• This list price: 51% of active listings are priced below it
• ARV vs active asking: +25.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34221

• Rents YoY: -3.0%
• Active inventory: 1580
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,408 medium
• Mortgage (P&I): −$3,026
• Tax est. 1.5%: −$721 /mo · $8,654/yr
• Insurance: −$240
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $-1,361

Break-even live

Break-even rent $5,131

Max offer price $379,964

Occupancy floor —

Sensitivity live

Price	-10% $-963	-5% $-1,162	+0% $-1,361	+5% $-1,561	+10% $-1,760
Rent	-10% $-1,631	-5% $-1,496	+0% $-1,361	+5% $-1,227	+10% $-1,092
Rate	-1.0pp $-1,071	-0.5pp $-1,215	base $-1,361	+0.5pp $-1,511	+1.0pp $-1,663

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: $144,236
• Closing costs: $17,308
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11580 69th Pl E Palmetto, FL	5.0	4.0	3336	$3,600	$1.08	10d	1	0.57mi
6321 Milestone Loop Palmetto, FL	5.0	3.5	2470	$3,000	$1.21	6d	1	0.90mi
6321 Milestone Loop Palmetto, FL	5.0	3.5	2505	$3,000	$1.20	7d	1	0.90mi
6219 Springmont Loop Palmetto, FL	5.0	3.5	2574	$3,023	$1.17	80d	1	1.22mi

Property features AI

Finance

• Financial info: List price $425,540

Exterior

• Parking: 2-car garage / 2 total parking spaces
• Home design: Richmond plan (new construction)Address: Palmetto, FL 34221
• Construction: New construction (Plan)Built as Richmond plan (year not specified)
• Exterior features: Living area of 3,092 (home size provided)

Interior

• Kitchen: Includes standard kitchen features (details not provided)
• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Open floor plan (new construction Plan: Richmond)
• Laundry & utility: Laundry/utility space (details not provided)

Listing history 50 events

1. 2026-09-22
   pricedays on market $429,990 Active 152 DOM
2. 2026-09-21
   days on market $443,840 Active 151 DOM
3. 2026-09-20
   days on market $443,840 Active 150 DOM
4. 2026-09-19
   days on market $443,840 Active 149 DOM
5. 2026-09-18
   days on market $443,840 Active 148 DOM
6. 2026-09-17
   days on market $443,840 Active 147 DOM
7. 2026-09-16
   pricedays on market $443,840 Active 146 DOM
8. 2026-09-15
   days on market $437,340 Active 145 DOM
9. 2026-09-14
   days on market $437,340 Active 144 DOM
10. 2026-09-13
    days on market $437,340 Active 143 DOM
11. 2026-09-12
    days on market $437,340 Active 142 DOM
12. 2026-09-11
    pricedays on market $437,340 Active 141 DOM
13. 2026-09-05
    days on market $436,840 Active 135 DOM
14. 2026-09-04
    days on market $436,840 Active 134 DOM
15. 2026-09-03
    pricedays on market $436,840 Active 133 DOM
16. 2026-08-31
    pricedays on market $436,340 Active 130 DOM
17. 2026-08-30
    days on market $435,840 Active 129 DOM
18. 2026-08-29
    price $435,840 Active 128 DOM
19. 2026-08-29
    days on market $435,340 Active 128 DOM
20. 2026-08-28
    days on market $435,340 Active 127 DOM
21. 2026-08-27
    days on market $435,340 Active 126 DOM
22. 2026-08-26
    days on market $435,340 Active 125 DOM
23. 2026-08-25
    price $435,340 Active 124 DOM
24. 2026-08-25
    days on market $434,840 Active 124 DOM
25. 2026-08-24
    days on market $434,840 Active 123 DOM
26. 2026-08-23
    days on market $434,840 Active 122 DOM
27. 2026-08-22
    days on market $434,840 Active 121 DOM
28. 2026-08-21
    days on market $434,840 Active 120 DOM
29. 2026-08-20
    price $434,840 Active 119 DOM
30. 2026-08-20
    days on market $434,340 Active 119 DOM
31. 2026-08-19
    days on market $434,340 Active 118 DOM
32. 2026-08-18
    days on market $434,340 Active 117 DOM
33. 2026-08-17
    days on market $434,340 Active 116 DOM
34. 2026-08-16
    days on market $434,340 Active 115 DOM
35. 2026-08-15
    days on market $434,340 Active 114 DOM
36. 2026-08-14
    days on market $434,340 Active 113 DOM
37. 2026-08-13
    pricedays on market $434,340 Active 112 DOM
38. 2026-08-12
    days on market $435,340 Active 111 DOM
39. 2026-08-11
    days on market $435,340 Active 110 DOM
40. 2026-08-10
    days on market $435,340 Active 109 DOM
41. 2026-08-09
    days on market $435,340 Active 108 DOM
42. 2026-08-08
    days on market $435,340 Active 107 DOM
43. 2026-08-07
    pricedays on market $435,340 Active 106 DOM
44. 2026-08-06
    days on market $434,840 Active 105 DOM
45. 2026-08-05
    days on market $434,840 Active 104 DOM
46. 2026-08-04
    days on market $434,840 Active 103 DOM
47. 2026-07-31
    days on market $434,840 Active 99 DOM
48. 2026-07-30
    days on market $434,840 Active 97 DOM
49. 2026-07-28
    days on market $434,840 Active 96 DOM
50. 2026-07-24
    days on market $434,840 Active 92 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,896
• − Mortgage interest: −$32,318
• − Property taxes: −$8,654
• − Insurance: −$3,682
• − Repairs & maintenance: −$3,272
• − Management: −$3,272
• − Depreciation: −$16,784
• Taxable loss: −$27,085
• Est. tax savings @ 24.0%: +$6,500
• After-tax cash flow: $-9,835/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.

Condition & rehab AI · 1 photo

Good 80/100 None rehab

This two-story home in Ruskin, FL, is in good condition with no visible repairs needed. It offers ample space and a modern design, making it a great investment opportunity.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract tenants and reduce utility costs. ↑

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary James Tillman Elementary Magnet School D FL #1,088/2,144 Nat'l #12,785/41,679 Middle Buffalo Creek Middle School B- FL #180/571 Nat'l #2,482/14,009 High Palmetto High School F FL #456/667 Nat'l #11,621/17,239

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

B Composite livability gradescore 72/100

Livability — Palmetto

• Score: 72/100
• State rank: #346
• US rank: #5695

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 447,342 people
• City population: 33,319
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 56,208
• Household income: $77,712
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 22% Black 14% Two or more races 11%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, Dominican Republic, Jamaica
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1%

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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: ▼ -383.53%
• Current HPI: 302.1458
• Rent YoY: ▼ -2.98%
• Metro: North Port-Sarasota-Bradenton, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: List price $425,540

Exterior

• Parking: 2-car garage / 2 total parking spaces
• Home design: Richmond plan (new construction)Address: Palmetto, FL 34221
• Construction: New construction (Plan)Built as Richmond plan (year not specified)
• Exterior features: Living area of 3,092 (home size provided)

Interior

• Kitchen: Includes standard kitchen features (details not provided)
• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Open floor plan (new construction Plan: Richmond)
• Laundry & utility: Laundry/utility space (details not provided)