7686 Raptor Ct

North Port, FL 34287

$372,500D

3 bd · 2.0 ba · 1,986 sqft · Built 2016 · SingleFamily · Active · 148 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,827/mo
• Mortgage (P&I): −$1,953
• Tax + insurance: −$749
• HOA: −$233
• Vac / Maint / Mgmt: −$594
• Net cashflow: $-703/mo
• Annual: $-8,432/yr
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• 1% rule: 0.76%
• Cash to close: $104,300

Investor read

• This is a 3-bed/2.0-bath single-family listed at $372k.
• At list price, monthly cash flow is $-703 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (33.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (24.1% below list).
• It's been on market 148 days — a 12% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (33.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• 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.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents flat; 852 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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.
• Cap rate 5.4% vs local median 3.6% in North Port — 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.
• At $2,827/mo this rent would consume 53% of the median local household income ($63k/yr) (locally 522% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 148 days. Have you received any prior offers? Is the seller open to a 33% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?