3543 Salvia Ct

Tavares, FL 32778

$362,490F

4 bd · 2.5 ba · 1,876 sqft · Built 2026 · Land · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,464/mo
• Mortgage (P&I): −$1,901
• Tax + insurance: −$604
• HOA: −$80
• Vac / Maint / Mgmt: −$517
• Net cashflow: $-639/mo
• Annual: $-7,667/yr
• Cap rate: 4.18%
• Cash-on-cash: -7.55%
• DSCR: 0.66
• 1% rule: 0.68%
• Cash to close: $101,497

Investor read

• This is a 4-bed/2.5-bath land listed at $362k.
• At list price, monthly cash flow is $-639 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (32.0% below list).
• It's been on market 75 days — a 6% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (32.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#220 in FL, #3,464 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eustis Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 358 students, 65% FRL); Eustis High School (math 33% / reading 40%, grade F, #351 of 667 statewide, top 54%, 1,368 students, 45% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 507 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• At $2,464/mo this rent would consume 47% of the median local household income ($63k/yr) (locally 586% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.