13517 Sawmill St

Parrish, FL 34219

$299,729D

3 bd · 2.0 ba · 1,455 sqft · Built 2026 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,592/mo
• Mortgage (P&I): −$1,572
• Tax + insurance: −$500
• HOA: −$0
• Vac / Maint / Mgmt: −$544
• Net cashflow: $-24/mo
• Annual: $-285/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $83,924

Investor read

• This is a 3-bed/2.0-bath single-family listed at $300k. Condition is rated good.
• At list price, monthly cash flow is $-24 ($-285/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (13.5% below list).
• It's been on market 26 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $259k (13.5% 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 $9k of value loss. Plan a longer hold.
• Location reads: area grade D — 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: Virgil Mills Elementary School (math 69% / reading 65%, grade B+, #450 of 2,144 statewide, top 22%, 818 students, 43% 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) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents soft (-0.9%/yr); 2194 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.