6019 Blue Paloma Ct

Memphis, FL 34221

$311,940C-

4 bd · 2.0 ba · 1,817 sqft · Built 2026 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,765/mo
• Mortgage (P&I): −$1,636
• Tax + insurance: −$520
• HOA: −$0
• Vac / Maint / Mgmt: −$581
• Net cashflow: $28/mo
• Annual: $339/yr
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• 1% rule: 0.89%
• Cash to close: $87,343

Investor read

• This is a 4-bed/2.0-bath single-family listed at $312k. Condition is rated good.
• At list price, monthly cash flow is $28 ($339/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (11.4% below list).
• It's been on market 19 days — a 2% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $276k (11.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#745 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James Tillman Elementary Magnet School (math 65% / reading 34%, grade D, #1,088 of 2,144 statewide, top 53%, 520 students, 74% FRL); Buffalo Creek Middle School (math 59% / reading 51%, grade B-, #180 of 571 statewide, top 32%, 1,127 students, 44% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL).
• Market conditions: Rents soft (-3.0%/yr); 1170 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.4% vs local median 4.4% in Memphis — 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.
• This rent runs 43% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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.
• 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.