1108 Avenue N

Haines City, FL 33844

$269,900D

3 bd · 2.0 ba · 1,250 sqft · Built 1976 · SingleFamily · Pending · 158 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,120/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $75/mo
• Annual: $900/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• 1% rule: 0.79%
• Cash to close: $75,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $75 ($900/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 $212k (21.4% below list).
• It's been on market 158 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (21.4% 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 $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#285 in FL, #4,575 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment 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: Horizons Elementary School (math 37% / reading 39%, grade F, #1,587 of 2,144 statewide, top 74%, 1,468 students, 42% FRL); Shelley S. Boone Middle School (math 25% / reading 25%, grade F, #517 of 571 statewide, top 91%, 1,403 students, 52% FRL); Ridge Community High School (math 12% / reading 33%, grade F, #539 of 667 statewide, top 81%, 2,711 students, 48% FRL).
• Zoned-school proficiency averages 28% at this address vs 41% district-wide (-12 pts) — the specific schools serving this property underperform the Polk average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.2%/yr); 1344 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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.
• 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.
• This rent runs 40% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 158 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.