Rose Plan

Westlake, FL 33470

$370,990C-

3 bd · 2.5 ba · 1,536 sqft · Built — · Townhouse · Active · 862 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,932/mo
• Mortgage (P&I): −$1,946
• Tax + insurance: −$618
• HOA: −$0
• Vac / Maint / Mgmt: −$826
• Net cashflow: $543/mo
• Annual: $6,514/yr
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• 1% rule: 1.06%
• Cash to close: $103,877

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $371k.
• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $371k).
• It's been on market 862 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $326k (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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Loxahatchee Groves Elementary (math 65% / reading 58%, grade B, #634 of 2,144 statewide, top 30%, 653 students, 53% FRL); Osceola Creek Middle School (math 53% / reading 54%, grade C+, #205 of 571 statewide, top 36%, 835 students, 41% FRL); Seminole Ridge Community High School (math 36% / reading 56%, grade D-, #220 of 667 statewide, top 33%, 2,262 students, 36% FRL).
• Market conditions: Rents rising fast (+7.7%/yr); 599 active listings in the ZIP; high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $104k cash investment doubles in ~9 years — after that, you're playing with house money.
• This rent runs 39% of the median local income ($122k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 862 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.