9428 Azure Breeze Ave

Parrish, FL 34221

$332,990C-

5 bd · 2.5 ba · 2,217 sqft · Built 2026 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,034/mo
• Mortgage (P&I): −$1,746
• Tax + insurance: −$555
• HOA: −$0
• Vac / Maint / Mgmt: −$637
• Net cashflow: $95/mo
• Annual: $1,145/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $93,237

Investor read

• This is a 5-bed/2.5-bath single-family listed at $333k. Condition is rated good.
• At list price, monthly cash flow is $95 ($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 $303k (8.9% below list).
• It's been on market 44 days — a 3% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $303k (8.9% 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 $10k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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); Buffalo Creek Middle School (math 59% / reading 51%, grade B-, #180 of 571 statewide, top 32%, 1,127 students, 44% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL).
• Market conditions: Rents soft (-3.0%/yr); 1452 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 36d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 6.6% vs local median 4.8% in Parrish — 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 $3,034/mo this rent would consume 47% of the median local household income ($78k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.