529 Ridges Dr

Dundee, FL 33838

$280,000D

3 bd · 2.0 ba · 1,836 sqft · Built 2007 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,060/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$467
• HOA: −$0
• Vac / Maint / Mgmt: −$433
• Net cashflow: $-308/mo
• Annual: $-3,695/yr
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $78,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $280k.
• At list price, monthly cash flow is $-308 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (26.4% below list).
• It's been on market 40 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $206k (26.4% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#638 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sandhill Elementary School (math 21% / reading 37%, grade F, #1,932 of 2,144 statewide, top 91%, 991 students, 55% FRL); Lake Marion Creek Middle School (math 22% / reading 27%, grade F, #522 of 571 statewide, top 93%, 1,044 students, 58% FRL); Haines City Senior High School (math 12% / reading 32%, grade F, #544 of 667 statewide, top 82%, 2,700 students, 58% FRL) — zoned schools at 57% FRL track the district average.
• Zoned-school proficiency averages 25% at this address vs 41% district-wide (-16 pts) — the specific schools serving this property underperform the Polk average; the district grade overstates school quality for this exact location.
• Market conditions: 150 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 19y 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 $196k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$48k 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→24/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 40 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.