1711 W Lakeview Ave

Goulding, FL 32501

$63,000B

2 bd · 1.0 ba · 1,110 sqft · Built 1943 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,618/mo
• Mortgage (P&I): −$330
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$340
• Net cashflow: $822/mo
• Annual: $9,859/yr
• Cap rate: 23.21%
• Cash-on-cash: 60.41%
• DSCR: 3.69
• 1% rule: 2.57%
• Cash to close: $17,640

Investor read

• This is a 2-bed/1.0-bath single-family listed at $63k.
• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#296 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Escambia (suburban): math 40% / reading 45% proficiency, ranked #56 of 73 in FL (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.4%/yr); 129 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• Escambia County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $10k; list at $63k implies a 536% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 44% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.