2 bd · 1.5 ba ·
976 sqft ·
Built 1957
· SingleFamily
· Pending
· 28 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,063/mo
Mortgage (P&I)
−$996
Tax + insurance
−$293
HOA
−$0
Vac / Maint / Mgmt
−$433
Net cashflow
$341/mo
Annual
$4,089/yr
Cap rate
8.45%
Cash-on-cash
7.69%
DSCR
1.34
1% rule
1.09%
Cash to close
$53,172
Investor read
This is a 2-bed/1.5-bath single-family listed at $190k.
At list price, monthly cash flow is $341 ($4k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $190k).
It's been on market 28 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
Location reads 68/100 on livability (#537 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: schools D+, 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: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: Rents flat; 1247 active listings in the ZIP; solid renter incomes; 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.
4 sale attempts since 21y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $115k; list at $190k implies a 65% gain — meaningful room to come down on a strong offer.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Questions for listing agent
Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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.
CashFlowRE · CFR-WSPF64B2MR1F8P
· Data 3 weeks agocashflowre.app · 2026-05-29