24495 NW 10th Rd

Newberry, FL 32669

$276,990D-

3 bd · 2.0 ba · 1,453 sqft · Built 2025 · SingleFamily · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,359/mo
• Mortgage (P&I): −$1,453
• Tax + insurance: −$462
• HOA: −$100
• Vac / Maint / Mgmt: −$495
• Net cashflow: $-150/mo
• Annual: $-1,804/yr
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• 1% rule: 0.85%
• Cash to close: $77,557

Investor read

• This is a 3-bed/2.0-bath single-family listed at $277k.
• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (14.8% below list).
• It's been on market 50 days — a 3% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $236k (14.8% 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 (#524 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F, commute F.
• Alachua (urban): math 49% / reading 54% proficiency, ranked #30 of 73 in FL (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Newberry Elementary School (math 43% / reading 48%, grade D-, #1,247 of 2,144 statewide, top 59%, 661 students, 44% FRL); Newberry High School (math 35% / reading 54%, grade F, #237 of 667 statewide, top 36%, 728 students, 50% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 418 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 5.6% vs local median 4.2% in Newberry — 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.

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 50 days. Have you received any prior offers? Is the seller open to a 15% 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?
• 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.
• 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.