Are certain parts of Florida oversaturated for rentals?

[Catherine Underwood]

I am an out of state investor, looking to expand my portfolio into the Palmetto St area of Poinciana, FL. I've found the perfect property that's close to a school and hospital (although the school only has a 3/10 rating). It is a duplex that would attract family renters. After talking to several rental management agents, the expected rents is exactly what I am looking for.

However, after looking at existing rentals available in the same area on Zillow, I see that there are 6 properties available for rent close to the one I am thinking of buying (and a further 3 that are about 20 minutes away). The rents they are asking for match-up with what the rental management agents are saying. However, according to Zillow, they have been listed between 30 to 55 days ago.

Does this mean that the area is oversaturated with rentals and should be avoided? Or are there other reasons to explain what I am seeing on Zillow. Thanks!