910 River Rapids Ave

Bloomingdale, FL 33511

$359,000D

5 bd · 3.0 ba · 3,776 sqft · Built 1978 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,672/mo
• Mortgage (P&I): −$1,883
• Tax + insurance: −$1,071
• HOA: −$15
• Vac / Maint / Mgmt: −$771
• Net cashflow: $-67/mo
• Annual: $-806/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• 1% rule: 1.02%
• Cash to close: $100,520

Investor read

• This is a 5-bed/3.0-bath single-family listed at $359k.
• At list price, monthly cash flow is $-67 ($-806/yr) — negative.
• To cash-flow at today's rent, offer at most $347k (3.3% below list).
• Meets the 1% rule at list price ($4k rent vs $359k).
• It's been on market 17 days — a 2% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $347k (3.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#383 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, health & safety F.
• 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.
• Zoned schools: Bloomingdale High School (math 41% / reading 54%, grade D, #204 of 667 statewide, top 31%, 2,304 students, 45% FRL).
• Watch-outs: property tax is 3.1% of price.
• Market conditions: Rents soft (-1.2%/yr); 316 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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.
• 11 sale attempts since 20y ago 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.
• 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.
• At $3,672/mo this rent would consume 54% of the median local household income ($81k/yr) (locally 3073% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.