146 SW Tree Top Rd

Rainbow Lakes Estates, FL 34431

$222,900F

3 bd · 2.0 ba · 1,087 sqft · Built 2026 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,645/mo
• Mortgage (P&I): −$1,173
• Tax + insurance: −$373
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-246/mo
• Annual: $-2,950/yr
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $62,624

Investor read

• This is a 3-bed/2.0-bath single-family listed at $223k. Condition is rated excellent.
• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (26.2% below list).
• It's been on market 157 days — a 12% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (26.2% 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 $7k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Romeo Elementary School (math 51% / reading 41%, grade D-, #1,234 of 2,144 statewide, top 58%, 707 students, 76% FRL); Dunnellon Middle School (math 48% / reading 42%, grade D, #310 of 571 statewide, top 56%, 678 students, 68% FRL); Dunnellon High School (math 30% / reading 32%, grade F, #429 of 667 statewide, top 65%, 1,350 students, 63% FRL).
• Market conditions: 779 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 35% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 157 days. Have you received any prior offers? Is the seller open to a 26% 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.
• 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.
• 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.