12527 Floridays Resort Dr Unit E104

Williamsburg, FL 32821

$170,000C-

3 bd · 2.0 ba · 1,200 sqft · Built 2006 · Condo · Pending · 365 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,635/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$283
• HOA: −$899
• Vac / Maint / Mgmt: −$553
• Net cashflow: $8/mo
• Annual: $90/yr
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• 1% rule: 1.55%
• Cash to close: $47,600

Investor read

• This is a 3-bed/2.0-bath condo listed at $170k.
• At list price, monthly cash flow is $8 ($90/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• It's been on market 365 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($1k loan paydown + $505 appreciation (0.3% local appreciation)).
• Location reads 85/100 on livability (#29 in FL, #608 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunshine Elementary (math 41% / reading 43%, grade F, #1,403 of 2,144 statewide, top 67%, 949 students, 41% FRL); Lake Buena Vista High School (1,714 students, 49% FRL).
• Watch-outs: HOA is 34% of rent.
• Market conditions: Rents falling (-3.2%/yr); 275 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.3% vs local median 3.9% in Williamsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• At $2,635/mo this rent would consume 46% of the median local household income ($69k/yr) (locally 1840% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• Schools are F-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.