3584 Prancer Pt

Lakeside, FL 32068

$275,440F

3 bd · 2.5 ba · 1,427 sqft · Built 2026 · Land · Pending · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,015/mo
• Mortgage (P&I): −$1,444
• Tax + insurance: −$459
• HOA: −$125
• Vac / Maint / Mgmt: −$423
• Net cashflow: $-437/mo
• Annual: $-5,242/yr
• Cap rate: 4.39%
• Cash-on-cash: -6.80%
• DSCR: 0.70
• 1% rule: 0.73%
• Cash to close: $77,123

Investor read

• This is a 3-bed/2.5-bath land listed at $275k.
• At list price, monthly cash flow is $-437 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (26.9% below list).
• It's been on market 73 days — a 6% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (26.9% 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 $8k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#505 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Clay (suburban): math 58% / reading 59% proficiency, ranked #14 of 73 in FL (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Coppergate Elementary School (math 69% / reading 65%, grade B+, #450 of 2,144 statewide, top 22%, 609 students, 100% FRL); Wilkinson Junior High School (math 54% / reading 49%, grade C, #232 of 571 statewide, top 41%, 752 students, 100% FRL); Ridgeview High School (math 41% / reading 53%, grade D-, #207 of 667 statewide, top 32%, 1,828 students, 46% FRL) — zoned schools average 82% FRL vs 35% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 601 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 in 5+ unit buildings).
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

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 73 days. Have you received any prior offers? Is the seller open to a 27% 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 B-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?
• 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.