2887 Cyrus Ave · North Port, FL 34288

$268,000

3 bd · 2.0 ba · 1,243 sqft · SingleFamily · 503 Days on market

Built 2025 10,000 sqft lot $216/sqft · 16% below area Est $319k · 16% under ↓ 4% since listing

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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).

• ARV discount +14.7/15.0
• Cash flow +7.1/30.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE IN READY!! BRAND NEW!! Introducing the captivating Palm floorplan from our Inspire collection of homes. This modest yet charming residence offers three bedrooms, two full baths, an indoor laundry room, and a one-car garage. The contemporary kitchen design seamlessly overlooks the combined dining and great room area, creating a spacious and inviting atmosphere. Enjoy casual dining at the countertop breakfast bar while taking in the breathtaking view of the expansive backyard and the beautiful Florida weather through the sliding glass door. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

Key facts

• Palm floorplan
• Sliding glass door
• Expansive backyard

Tags

• PALM FLOORPLAN
• CONTEMPORARY KITCHEN DESIGN
• COUNTERTOP BREAKFAST BAR
• EXPANSIVE BACKYARD
• SLIDING GLASS DOOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $-379 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (30.4% below list).
• Recommended offer: $187k (30.4% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.6% in North Port — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#252 in FL, #3,975 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• 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.
• Market conditions: Rents falling (-5.4%/yr); 1397 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• 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.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 503 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,522 (30.4% 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 503 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.70% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.05%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $318,918
• List price: $268,000
• Delta: -15.97%
• Verdict: UNDERPRICED
• Comps: 12 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -30.1%
• Equity multiple: 0.03×
• Total profit: $-72,977
• Equity at exit: $39,960

10-year hold

• IRR: -50.8%
• Equity multiple: -0.54×
• Total profit: $-115,604
• Equity at exit: $23,172

Cash invested: $75,040 (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 34288

• Home prices YoY: -12.2%
• Rents YoY: -5.4%
• Active inventory: 1397
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$1,405
• Tax est. 1.5%: −$335 /mo · $4,020/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-379

Break-even live

Break-even rent $2,344

Max offer price $213,221

Occupancy floor —

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $268,000 Active 503 DOM
2. 2026-06-17
   days on market $268,000 Active 502 DOM
3. 2026-06-15
   days on market $268,000 Active 500 DOM
4. 2026-06-13
   days on market $268,000 Active 498 DOM
5. 2026-06-13
   days on market $268,000 Active 497 DOM
6. 2026-06-10
   days on market $268,000 Active 495 DOM
7. 2026-06-09
   days on market $268,000 Active 494 DOM
8. 2026-06-08
   days on market $268,000 Active 492 DOM
9. 2026-06-05
   days on market $268,000 Active 489 DOM
10. 2026-06-03
    pricedays on market $268,000 Active 488 DOM
11. 2026-06-02
    days on market $269,000 Active 487 DOM
12. 2026-06-01
    days on market $269,000 Active 486 DOM
13. 2026-05-31
    days on market $269,000 Active 485 DOM
14. 2026-05-19
    price $269,000 673-char remark

    Show marketing remark (673 chars)

    MOVE IN READY!! BRAND NEW!! Introducing the captivating Palm floorplan from our Inspire collection of homes. This modest yet charming residence offers three bedrooms, two full baths, an indoor laundry room, and a one-car garage. The contemporary kitchen design seamlessly overlooks the combined dining and great room area, creating a spacious and inviting atmosphere. Enjoy casual dining at the countertop breakfast bar while taking in the breathtaking view of the expansive backyard and the beautiful Florida weather through the sliding glass door. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

15. 2025-07-26
    price $279,000 673-char remark

    Show marketing remark (673 chars)

    MOVE IN READY!! BRAND NEW!! Introducing the captivating Palm floorplan from our Inspire collection of homes. This modest yet charming residence offers three bedrooms, two full baths, an indoor laundry room, and a one-car garage. The contemporary kitchen design seamlessly overlooks the combined dining and great room area, creating a spacious and inviting atmosphere. Enjoy casual dining at the countertop breakfast bar while taking in the breathtaking view of the expansive backyard and the beautiful Florida weather through the sliding glass door. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

16. 2025-01-31
    listed $280,000 Active 673-char remark

    Show marketing remark (673 chars)

    MOVE IN READY!! BRAND NEW!! Introducing the captivating Palm floorplan from our Inspire collection of homes. This modest yet charming residence offers three bedrooms, two full baths, an indoor laundry room, and a one-car garage. The contemporary kitchen design seamlessly overlooks the combined dining and great room area, creating a spacious and inviting atmosphere. Enjoy casual dining at the countertop breakfast bar while taking in the breathtaking view of the expansive backyard and the beautiful Florida weather through the sliding glass door. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥108°F today · 22 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: $22,383
• − Mortgage interest: −$15,012
• − Property taxes: −$4,020
• − Insurance: −$1,340
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$7,796
• Taxable loss: −$9,367
• Est. tax savings @ 24.0%: +$2,248
• After-tax cash flow: $-2,295/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: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — North Port

• Score: 75/100
• State rank: #252
• US rank: #3975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Port, FL
• County: Sarasota County · 448,376 people
• City population: 75,324
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 18,231
• Household income: $84,211
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 177.0

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 3%
• Common ancestry: Romanian 7% Lithuanian 4% Hispanic 3%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 6% French/Haitian/Cajun 5% Russian/Polish/Slavic 1%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.39%
• Current HPI: 248.3322
• Rent YoY: ▼ -5.40%
• 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

-3.9% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $269,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-26 Price Changed $279,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-31 Listed $280,000 Stellar MLS as Distributed by MLS Grid