1640 Olivia Ter

Leesburg, FL 34762

$300,000D-

2 bd · 2.0 ba · 1,300 sqft · Built 2023 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,401/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$540
• HOA: −$204
• Vac / Maint / Mgmt: −$504
• Net cashflow: $-420/mo
• Annual: $-5,040/yr
• Cap rate: 4.61%
• Cash-on-cash: -6.00%
• DSCR: 0.73
• 1% rule: 0.80%
• Cash to close: $84,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $300k. Condition is rated good.
• At list price, monthly cash flow is $-420 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (20.0% below list).
• It's been on market 85 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (24.7% below list) — sets the bar for cash-flow.
• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.9% local appreciation)).
• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities 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.
• Market conditions: 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 85 days. Have you received any prior offers? Is the seller open to a 25% 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?