Cobb Plan

Clermont, FL 33839

$321,990F

5 bd · 3.0 ba · 2,238 sqft · Built — · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,987/mo
• Mortgage (P&I): −$2,840
• Tax + insurance: −$903
• HOA: −$0
• Vac / Maint / Mgmt: −$627
• Net cashflow: $-1,383/mo
• Annual: $-16,594/yr
• Cap rate: 3.23%
• Cash-on-cash: -10.94%
• DSCR: 0.51
• 1% rule: 0.55%
• Cash to close: $151,647

Investor read

• This is a 5-bed/3.0-bath single-family listed at $322k. Condition is rated good.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (7.2% below list).
• It's been on market 66 days — a 6% lower offer ($303k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $299k (7.2% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($4k loan paydown + $9k appreciation (1.8% local appreciation)).
• Location reads 69/100 on livability (#499 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, schools A-, crime A-; Watch: amenities F, commute F, health & safety F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.5% of price.
• Market conditions: 167 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 66 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• Schools are A-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.