7510 Presley Pl Unit 98-B

East Lake-Orient Park, FL 33617

$105,000C

1 bd · 1.0 ba · 783 sqft · Built 1981 · Condo · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,411/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$251
• Vac / Maint / Mgmt: −$296
• Net cashflow: $138/mo
• Annual: $1,658/yr
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• 1% rule: 1.34%
• Cash to close: $29,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $105k. Condition is rated good.
• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 66 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 284 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% 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; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Light scratches and scuffs on the cabinet doors.
• Minor: Bathroom vanity — Light scratches and scuffs on the vanity surface.
• Minor: Exterior siding — Visible cracks and discoloration on the siding.
• Minor: Flooring — Light stains and marks on the tile flooring.
• Minor: Interior walls — Light scuffs and marks on the interior walls.
• Minor: Windows — Visible dirt and grime on the window frames and sills.