Sandalwood Plan

Winter Haven, FL 33884

$375,990D

4 bd · 3.0 ba · 2,551 sqft · Built — · SingleFamily · Active · 597 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,336/mo
• Mortgage (P&I): −$1,972
• Tax + insurance: −$627
• HOA: −$63
• Vac / Maint / Mgmt: −$701
• Net cashflow: $-26/mo
• Annual: $-310/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• 1% rule: 0.89%
• Cash to close: $105,277

Investor read

• This is a 4-bed/3.0-bath single-family listed at $376k.
• At list price, monthly cash flow is $-26 ($-310/yr) — negative.
• To cash-flow at today's rent, offer at most $372k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (11.3% below list).
• It's been on market 597 days — a 12% lower offer ($331k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $331k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#291 in FL, #4,898 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment C-, amenities 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.
• Market conditions: Rents rising (+1.9%/yr); 680 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• At $3,336/mo this rent would consume 57% of the median local household income ($70k/yr) (locally 949% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 597 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.