10632 Hidden Banks Gln · Ruskin, FL 34219

$399,000

5 bd · 3.0 ba · 2,447 sqft · Land · 131 Days on market

Built 2026 5,445 sqft lot $71/mo HOA · 2% of rent ↓ 1% since listing

---

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).

• Cash flow +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

MOVE IN READY! Receive up to $15,000 towards closing costs and special interest rates with the use of our preferred lender + $5,000 towards upgrades - Now through Sunday, May 31st. This all-concrete block constructed, two-story plan has a large open-concept downstairs which includes a well-appointed kitchen, living and dining area, and an outdoor patio. Upstairs, the oversized owner’s suite can easily fit a king-size bed and includes a large walk-in closet as well as an ensuite bathroom with double vanity. Three other bedrooms share a second upstairs bathroom while the loft provides an extra area for work or play. This home comes with refrigerator, built-in dishwasher, electric range,

Key facts

• Large walk-in closet
• Outdoor patio
• Ensuite bathroom

Tags

• OPEN-CONCEPT DOWNSTAIRS
• WELL-APPOINTED KITCHEN
• OUTDOOR PATIO
• OVERSIZED OWNERS SUITE
• LARGE WALK-IN CLOSET
• ENSUITE BATHROOM

Property features AI

Finance

• Other: Home warranty included
• Financial info: Lease restrictions apply
• HOA & community: HOA managed by First Service Residential; Monthly HOA approximately $71.67 (quarterly fee option noted); Association amenities include clubhouse, pool, and cable TV; Association approval required; Pets allowed; Community features: clubhouse, playground, pool, sidewalks

Exterior

• Parking: Attached 2-car garage (18 x 20) with garage door opener; Driveway parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected; Underground utilities
• Home design: Single family residence; Two stories; Facing southwest; New construction (completed); Projected completion April 24, 2026
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built by D.R. Horton (model: Robie)
• Exterior features: Patio; Sliding doors; Irrigation equipment; Trees and landscaping; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Kitchen/family room combo; Open floorplan; Thermostat; Walk-in closets; Window treatments (blinds)
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $399k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (13.6% below list).
• Recommended offer: $345k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.

Location & tenants

• 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: 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.
• Zoned schools: Barbara A Harvey Elementary School (math 74% / reading 59%, grade B+, #473 of 2,144 statewide, top 23%, 1,069 students, 33% FRL); Parrish Community High School (math 47% / reading 57%, grade D+, #160 of 667 statewide, top 25%, 2,017 students, 32% FRL) — zoned schools average 33% FRL vs 51% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.9%/yr); 2170 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 36% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 131 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $344,906 (13.6% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 0.86% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.1%
• Equity multiple: 0.38×
• Total profit: $-69,117
• Equity at exit: $59,492

10-year hold

• IRR: -17.2%
• Equity multiple: 0.18×
• Total profit: $-92,042
• Equity at exit: $34,498

Cash invested: $111,720 (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 34219

• Home prices YoY: -23.7%
• Rents YoY: -0.9%
• Active inventory: 2170
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,449 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$306 /mo · $3,673/yr
• Insurance: −$166
• HOA: −$71
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $89

Break-even live

Break-even rent $3,336

Max offer price $399,000

Occupancy floor 92%

Sensitivity live

Price	-10% $315	-5% $202	+0% $89	+5% $-24	+10% $-137
Rent	-10% $-183	-5% $-47	+0% $89	+5% $225	+10% $361
Rate	-1.0pp $290	-0.5pp $190	base $89	+0.5pp $-14	+1.0pp $-120

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10749 Hidden Banks Gln Parrish, FL	5.0	3.0	2447	$2,549	$1.04	24d	1	0.09mi
10935 Gentle Current Way Parrish, FL	5.0	3.0	2605	$3,900	$1.50	24d	1	0.17mi
10826 Sapphire Breeze Cv Palmetto, FL	4.0	2.0	1850	$2,500	$1.35	4d	1	0.47mi
11612 Armada Way Parrish, FL	4.0	2.0	2112	$3,400	$1.61	21d	1	1.49mi
8614 Mercator Ct Parrish, FL	4.0	2.5	2910	$3,300	$1.13	24d	1	1.49mi

HOA detail

• Monthly dues: $71 · $852/yr
• Likely covers: electric

Listing history 19 events

1. 2026-06-18
   days on market $399,000 Active 131 DOM
2. 2026-06-17
   days on market $399,000 Active 130 DOM
3. 2026-06-16
   days on market $399,000 Active 129 DOM
4. 2026-06-15
   pricestatus $399,000 Active 128 DOM
5. 2026-05-22
   status Pending
6. 2026-05-20
   price $394,000
7. 2026-05-13
   price $397,000
8. 2026-05-04
   price $399,000
9. 2026-05-04
   status Active
10. 2026-04-21
    status Pending
11. 2026-04-15
    price $379,000
12. 2026-04-09
    price $387,000
13. 2026-04-02
    price $389,000
14. 2026-03-25
    price $394,000
15. 2026-03-18
    price $397,000
16. 2026-03-12
    price $399,000
17. 2026-03-05
    price $400,990
18. 2026-01-02
    price $399,990
19. 2026-01-01
    listed $398,990 Active

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,673 · $306/mo
• Projected year-2 tax: $3,673 · $306/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $41,389
• − Mortgage interest: −$22,350
• − Property taxes: −$3,673
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,311
• − Management: −$3,311
• − HOA: −$852
• − Depreciation: −$11,607
• Taxable loss: −$5,711
• Est. tax savings @ 24.0%: +$1,371
• After-tax cash flow: $2,439/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: 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

Livability — Ruskin

• Score: 71/100
• State rank: #392
• US rank: #6879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• City population: 52,177
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 33,296
• Household income: $113,773
• Rent vs Own: 8.1% rent · 91.9% own
• Severe rent burden: 219.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 4% Hispanic 2% Russian 2%
• Foreign-born: 10% · Canada, Dominican Republic, Jamaica
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 2% Other Asian/Pacific 1%

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: ▼ -84.45%
• Current HPI: 271.7131
• Rent YoY: ▼ -0.95%
• 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

-1.3% since first listed

15 events — show timeline

• 2026-05-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-20 Price Changed $394,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-13 Price Changed $397,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $379,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $387,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $389,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $394,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $397,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $400,990 Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $399,990 Stellar MLS as Distributed by MLS Grid
• 2026-01-01 Listed $398,990 Stellar MLS as Distributed by MLS Grid