5704 Pecan Rd

Silver Springs Shores, FL 34472

$235,000D

3 bd · 2.0 ba · 1,564 sqft · Built 2004 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,813/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$497
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $-298/mo
• Annual: $-3,572/yr
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• 1% rule: 0.77%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $-298 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (22.9% below list).
• It's been on market 50 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $181k (22.9% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.9% local appreciation)).
• Location reads 68/100 on livability (#527 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment D, amenities F.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greenway Elementary School (math 33% / reading 35%, grade F, #1,744 of 2,144 statewide, top 82%, 736 students, 67% FRL); Fort King Middle School (math 37% / reading 35%, grade F, #410 of 571 statewide, top 72%, 1,092 students, 71% FRL); Forest High School (math 36% / reading 54%, grade D-, #228 of 667 statewide, top 35%, 2,325 students, 42% FRL) — zoned schools at 60% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents flat; 686 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 23y ago 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.
• Current owner paid $106k; list at $235k implies a 122% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 50 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.