6045 Kumquat Cir

Port LaBelle, FL 33935

$349,900D-

3 bd · 2.5 ba · 1,571 sqft · Built 2026 · Land · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,197/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$583
• HOA: −$0
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-682/mo
• Annual: $-8,186/yr
• Cap rate: 3.95%
• Cash-on-cash: -8.36%
• DSCR: 0.63
• 1% rule: 0.63%
• Cash to close: $97,972

Investor read

• This is a 3-bed/2.5-bath land listed at $350k.
• At list price, monthly cash flow is $-682 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (28.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (37.2% below list).
• It's been on market 66 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (37.2% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#750 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Country Oaks Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 893 students, 75% FRL); Labelle Middle School (math 37% / reading 38%, grade F, #395 of 571 statewide, top 70%, 817 students, 72% FRL); Labelle High School (math 42% / reading 41%, grade F, #284 of 667 statewide, top 43%, 1,451 students, 62% FRL).
• Market conditions: 950 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 3y 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.
• Current owner paid $198k; list at $350k implies a 77% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$60k 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; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.0% vs local median 5.1% in Port LaBelle — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $2,197/mo this rent would consume 46% of the median local household income ($57k/yr) (locally 498% 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?
• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 37% 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.
• Schools are F-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.
• 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.