343 San Miguel St #343 · Winter Springs, FL 32708

$185,000

2 bd · 2.0 ba · 945 sqft · Condo · 31 Days on market

Built 1980 $138/mo HOA · 8% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.7/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great little investment property. Rents run around 800-900 monthly. Single story home with a NEW roof. Seller is considering which countertop to put in kitchen. Make an offer and pick it yourself.

Key facts

• Access to shopping
• Fenced patio area
• Storage shed

Tags

• PRIVATE OUTDOOR SPACE
• FENCED PATIO AREA
• STORAGE SHED
• CONVENIENT ACCESS TO PARKS
• ACCESS TO SHOPPING
• ACCESS TO DINING

Property features AI

Finance

• Other: No CDD; Property type: Residential condominium; Zoning: R-3; Lease restrictions not indicated
• Financial info: Total monthly fees $138; total annual fees $1,656
• HOA & community: Monthly condo/association fee: $138; Association name: Yvette; Association fees include trash; Association fee required; Community pool; Cats and dogs allowed (max 30 lbs)

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Single-story; Faces east; Entry on first floor
• Construction: Stucco construction; Shingle roof; Slab foundation; Built as part of building number 343
• Exterior features: Sidewalk; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Thermostat; Tile flooring
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-55 ($-660/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (6.8% below list).
• Recommended offer: $172k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.6% in Winter Springs — 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.

Location & tenants

• Location reads 75/100 on livability (#261 in FL, #4,187 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Layer Elementary School (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 608 students, 55% FRL); Indian Trails Middle School (math 60% / reading 60%, grade B, #135 of 571 statewide, top 24%, 1,197 students, 44% FRL); Winter Springs High School (math 43% / reading 55%, grade D, #193 of 667 statewide, top 29%, 2,038 students, 47% FRL).
• Market conditions: Rents rising (+3.6%/yr); 285 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $46k; list at $185k implies a 302% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,340 (6.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-32,359
• Equity at exit: $27,584

10-year hold

• IRR: -8.4%
• Equity multiple: 0.46×
• Total profit: $-28,039
• Equity at exit: $15,995

Cash invested: $51,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32708

• Rents YoY: 3.6%
• Active inventory: 285
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$138
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-55

Break-even live

Break-even rent $1,793

Max offer price $177,040

Occupancy floor 98%

Sensitivity live

Price	-10% $73	-5% $9	+0% $-55	+5% $-119	+10% $-183
Rent	-10% $-191	-5% $-123	+0% $-55	+5% $13	+10% $81
Rate	-1.0pp $38	-0.5pp $-8	base $-55	+0.5pp $-103	+1.0pp $-152

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 San Gabriel St Winter Springs, FL	2.0	1.0	759	$1,700	$2.24	25d	1	0.12mi
317 San Gabriel St Winter Springs, FL	3.0	2.0	1100	$1,900	$1.73	25d	1	0.16mi
114 Cory Ln Winter Springs, FL	2.0	2.0	1090	$1,395	$1.28	16d	1	0.18mi
216 Bennett St Winter Springs, FL	3.0	1.0	1120	$1,800	$1.61	25d	1	0.21mi
10 N Fairfax Ave Unit 10 Winter Springs, FL	2.0	1.5	907	$1,595	$1.76	12d	1	0.39mi
133 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,595	$1.77	3d	1	0.44mi
133 Garden Dr Unit 1 Winter Springs, FL	2.0	1.5	900	$1,515	$1.68	0d	1	0.44mi
137 Garden Dr Winter Springs, FL	2.0	1.5	900	$1,515	$1.68	0d	1	0.45mi
213 S Moss Rd Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	25d	1	0.62mi
213 S Moss Rd Unit 213 Winter Springs, FL	2.0	1.5	930	$1,495	$1.61	23d	1	0.62mi
226 Panorama Dr Winter Springs, FL	3.0	2.0	1100	$1,750	$1.59	6d	1	0.64mi
10 Sheoah Blvd #8 Winter Springs, FL	2.0	1.0	972	$1,650	$1.70	14d	1	0.74mi
70 Moree Loop #63 Winter Springs, FL	2.0	1.5	1080	$1,400	$1.30	25d	1	0.80mi
220 Moree Loop #8 Winter Springs, FL	1.0	1.0	710	$1,295	$1.82	12d	1	0.85mi
300 Sheoah Blvd Winter Springs, FL	1.0–3.0	1.0–2.0	1133	$1,658	$1.46	0d	12	0.87mi
542 Colonnades Cv Casselberry, FL	2.0	2.0	840	$1,775	$2.11	4d	1	1.06mi
421 S Hawthorn Cir Winter Springs, FL	3.0	2.0	1052	$2,070	$1.97	6d	1	1.07mi
1 Laurel Oaks Dr Winter Springs, FL	1.0–3.0	1.0–2.0	1030	$1,523	$1.48	0d	37	1.20mi
1450 Sunshadow Dr Casselberry, FL	1.0–2.0	1.0–2.0	865	$1,744	$2.02	0d	10	1.43mi
1250 N Brassie Dr Winter Springs, FL	2.0	1.0	644	$1,975	$3.07	0d	1	1.44mi

HOA detail condo

• Monthly dues: $138 · $1,656/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $185,000 Active 31 DOM
2. 2026-06-18
   days on market $185,000 Active 28 DOM
3. 2026-06-17
   days on market $185,000 Active 27 DOM
4. 2026-06-16
   days on market $185,000 Active 26 DOM
5. 2026-06-15
   price $185,000 Active 25 DOM
6. 2026-06-15
   days on market $189,900 Active 25 DOM
7. 2026-06-13
   days on market $189,900 Active 23 DOM
8. 2026-06-09
   days on market $189,900 Active 19 DOM
9. 2026-06-08
   days on market $189,900 Active 18 DOM
10. 2026-06-07
    days on market $189,900 Active 17 DOM
11. 2026-06-04
    days on market $189,900 Active 14 DOM
12. 2026-06-03
    days on market $189,900 Active 13 DOM
13. 2026-06-02
    days on market $189,900 Active 12 DOM
14. 2026-06-01
    days on market $189,900 Active 11 DOM
15. 2026-05-31
    days on market $189,900 Active 10 DOM
16. 2026-05-21
    listed $189,900 Active
17. 2013-03-10
    historical
18. 2013-02-14
    listed $56,900
19. 2013-01-23
    soldstatus $46,000 196-char remark

    Show marketing remark (196 chars)

    Great little investment property. Rents run around 800-900 monthly. Single story home with a NEW roof. Seller is considering which countertop to put in kitchen. Make an offer and pick it yourself.

20. 2012-12-15
    listed $53,000 196-char remark

    Show marketing remark (196 chars)

    Great little investment property. Rents run around 800-900 monthly. Single story home with a NEW roof. Seller is considering which countertop to put in kitchen. Make an offer and pick it yourself.

21. 2011-03-29
    soldstatus $26,000
22. 2009-11-30
    listed $25,000
23. 2009-04-24
    listed $89,499

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,681
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − HOA: −$1,656
• − Depreciation: −$5,382
• Taxable loss: −$3,729
• Est. tax savings @ 24.0%: +$895
• After-tax cash flow: $235/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Winter Springs

• Score: 75/100
• State rank: #261
• US rank: #4187

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment A Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winter Springs, FL
• County: Seminole County · 436,154 people
• City population: 48,965
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,965
• Household income: $93,628
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 1023.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 23% Two or more races 11% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 15% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.76%
• Current HPI: 308.2797
• Rent YoY: ▲ 3.58%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+112.2% since first listed

8 events — show timeline

• 2026-05-21 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2013-03-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2013-02-14 Listed $56,900 Stellar MLS as Distributed by MLS Grid
• 2013-01-23 Sold (MLS) $46,000 Stellar MLS as Distributed by MLS Grid
• 2012-12-15 Listed $53,000 Stellar MLS as Distributed by MLS Grid
• 2011-03-29 Sold (MLS) $26,000 Stellar MLS as Distributed by MLS Grid
• 2009-11-30 Listed $25,000 Stellar MLS as Distributed by MLS Grid
• 2009-04-24 Listed $89,499 Stellar MLS as Distributed by MLS Grid