911 N Orange Ave #445

Orlando, FL 32801

$140,000D

1 bd · 1.0 ba · 562 sqft · Built 2002 · Condo · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,594/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$275
• HOA: −$315
• Vac / Maint / Mgmt: −$335
• Net cashflow: $-65/mo
• Annual: $-782/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• 1% rule: 1.14%
• Cash to close: $39,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $140k.
• At list price, monthly cash flow is $-65 ($-782/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (8.2% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 37 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (8.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Elementary (math 76% / reading 75%, grade A, #211 of 2,144 statewide, top 10%, 479 students, 41% FRL); Howard Middle (math 71% / reading 77%, grade A, #42 of 571 statewide, top 7%, 1,047 students, 35% FRL); Edgewater High (math 14% / reading 46%, grade F, #441 of 667 statewide, top 67%, 2,059 students, 52% FRL).
• Market conditions: Rents soft (-0.4%/yr); 210 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.7% vs local median 3.0% in Orlando — 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 37 days. Have you received any prior offers? Is the seller open to a 8% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.