13587 N 77th Pl N

The Acreage, FL 33412

$475,000F

3 bd · 3.5 ba · 2,078 sqft · Built 1994 · SingleFamily · Pending · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,066/mo
• Mortgage (P&I): −$2,491
• Tax + insurance: −$1,228
• HOA: −$0
• Vac / Maint / Mgmt: −$854
• Net cashflow: $-507/mo
• Annual: $-6,079/yr
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• 1% rule: 0.86%
• Cash to close: $133,000

Investor read

• This is a 3-bed/3.5-bath single-family listed at $475k.
• At list price, monthly cash flow is $-507 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $386k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $407k (14.4% below list).
• It's been on market 63 days — a 6% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $386k (18.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#550 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Acreage Pines Elementary School (math 53% / reading 60%, grade C+, #816 of 2,144 statewide, top 39%, 547 students, 36% FRL); Western Pines Community Middle (math 66% / reading 64%, grade A-, #99 of 571 statewide, top 17%, 991 students, 42% FRL); Seminole Ridge Community High School (math 36% / reading 56%, grade D-, #220 of 667 statewide, top 33%, 2,262 students, 36% FRL).
• Watch-outs: property tax is 2.6% of price.
• Market conditions: Rents rising (+3.9%/yr); 392 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $100k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $280k; list at $475k implies a 70% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 37% of the median local income ($130k/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 63 days. Have you received any prior offers? Is the seller open to a 19% 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 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.