702 Skyview St

Four Corners, FL 33897

$99,999B

3 bd · 2.0 ba · 1,980 sqft · Built 2005 · Other · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,301/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$483
• Net cashflow: $1,127/mo
• Annual: $13,523/yr
• Cap rate: 19.82%
• Cash-on-cash: 48.30%
• DSCR: 3.15
• 1% rule: 2.30%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath other listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $82 of equity ($691 loan paydown + $-609 appreciation (-0.6% local appreciation)).
• Location reads 69/100 on livability (#453 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: schools F, amenities F, health & safety 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 soft (-2.7%/yr); 646 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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.
• At projected returns (-0.6% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.8% vs local median 3.2% in Four Corners — 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.
• This rent runs 39% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.